Do not be scared of threatening legal letters when you are under debt review. Leave the legal matters to us.

According to the National Credit Act (NCA), every consumer under debt review has the right to be legally protected.

PLEASE FEEL FREE to contact us on 021 003 8733, on our National Debt Advisors Facebook page or fill out a contact form on our website at www.nationaldebtadvisors.co.za

Hi,

In this video I discuss debt review in South Africa. Debt review is a legal process that assists over indebted consumers with resolving their debt problems.
Process of debt review is:
To start the process, you would contact a qualified debt counselor, preferably a registered one with the National Credit Regulator. They would assess your financial situation, your income and your debts to determine if you truly are over-indebted. Over indebtedness means that you are not able to afford your obligations every month.
If positive, they would work with you to come up with an effective debt payment plan tailored to you. This includes giving your creditors a payment proposal, and if they accept, you’ll make one monthly payment to the debt counselor. The counselor will then pay your creditors on your behalf. This means that you don’t have to interact with creditors directly anymore.
Advantages of debt review:
1.If you have applied for debt review before any legal action was taken against you, then your assets (the things you own) are safe from repossession.
2. From the moment you are placed under debt review, you no longer need to deal with intimidating debt collectors who continuously harass you. When they call or contact you in any way — just tell them to contact your debt counsellor.
3. Your interest rates on your unsecured debt can be lowered down to as little as 1% — and your repayment terms can be lengthened.
With lower monthly interest rates and longer terms, your monthly repayments on your debt will be less.
4. All your payments will be consolidated into one monthly installment.
5. Your debt is consolidated without an expensive loan.
6. Since you pay less on your monthly debt, you have more money available for your essential living expenses like food, electricity and transport.
7. A good debt counsellor will go through all of your accounts and be able to assess whether you are the victim of reckless lending by your creditors. If this is the case, that debt could be entirely written off.
Disadvantages of debt review:
1. After your initial assessment with a debt counselling company, you may be informed that your current situation does not qualify you to go under debt review.
2. Some of your accounts, especially those which have been subjected to legal action, may be excluded.
3. Your debt may take longer to repay.
4. You may have to give up on a few luxuries in your life, but once you 5. become become debt free, it will undoubtedly be worth it.
5. You will be “flagged” at the credit bureaus — but you will not be “blacklisted”.
6. You will not be able to use any of your retail store cards or credit cards.
You will not be able to apply for new credit.
8. Its important to note that you have to continue to pay as per your agreement.
Process of debt review:
When you contact a reputable debt counsellor you will be given a free debt assessment to determine your level of debt and whether debt counselling is a potential solution for you.

If the assessment determines you are over-indebted and could benefit from debt counselling, you then decide whether to formally apply.

the debt counsellor will do most of the heavy lifting by informing all your creditors and the credit bureaus that you have applied for and are undergoing debt counselling

As part of the process the debt counsellor negotiates reduced monthly payments on all credit agreements that fall under the National Credit Act

Once more affordable repayment terms are negotiated, your rearranged debt is approved at a court or the National Consumer Tribunal to ensure the renegotiated rates are fixed for the duration of the debt counselling.
The magistrate’s court needs to make a finding that you are over-indebted and accept the payment proposal before it can be made a court order. 
This means creditors cannot change the terms or demand higher payments.

You will make one affordable payment each month, which is distributed to creditors included in the debt counselling for the duration of the plan.

Debt counselling usually lasts for between three and five years, depending on the amount of debt, the arrangements the debt counsellor is able to negotiate with creditors and what you can afford to repay each month.

Conclusion: Please do research and make an informed decision. This video is for information only

Makeup – Jazz_glamour on Instagram and Facebook
Tel: 064 587 5476

Thanks!

The National Consumer Commission says it has received a number of complaints from consumers who have been placed under debt review without their consent.

The National Consumer Regulator has called on consumers to do their homework before agreeing to undertake a debt review to ensure they know what they are getting themselves into.

Debt counsellors who do not abide by the law run the risk of incurring legal costs to remove consumers from the debt review process.

For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.

When in the debt review process, you should know your rights within the process.
We discuss what options you have in the “manner of which you pay your debts” as well as what the Act does not allow.

#debtreview #debtcounselling #DCASA
www.dcasa.co.za

In the past two years, the number of South Africans undergoing debt review has increased by 8 percent. This means increasingly we are getting into money difficulties. Quinton Ramohlabi, a quality insurer at National Debt Advisors spoke to Sally Burdett. #DStv403

How to deal with the emotional stress of being under debt review | Debt counseling in South Africa

We are bookkeepers in Pretoria and we service clients across South Africa. Our focus is on preparing documents for business funding, tax preparation, and clean up of your business books, as well as monthly bookkeeping services.

To find out more about our bookkeeping services go to: https://profitandbooks.com/

I am Olivia Sambo, co-owner of Profits and Bookkeeping Services and Online Marketing Services. I am a qualified Bookkeeper who has studied with the Institute of Certified Bookkeepers, the ICB. My goal with every client is to understand their vision for their company so we can implement systems that will improve their cash flow, money management, and profitability.

Most clients come to me when they want their documents to be prepared for tax or when they want to apply for funding from a bank or a financial institution. In most cases, they’ve never had a bookkeeper, and all those years of neglecting their books take time and knowledge to untangle.

What skills do you need to be a bookkeeper?

You need to be someone who’s meticulous and pays attention to details because one digit in the wrong place can lead to the books not balancing. You need to be patient and focused to capture the information accurately because sometimes these numbers can be very overwhelming. You must be honest and have integrity because you deal with very confidential information about clients. You must honour the trust that your clients put in by safeguarding the trust and protecting their privacy.
As a bookkeeper, you must understand the accounting system and make sense of the debit and credit entries. You must also have a basic understanding of Mathematics.

What does a bookkeeper do?

Bookkeepers capture information from the source documents that a client provides. Different types of accounts then get created to reflect the assets, liabilities, income, expenses, and equity accounts. These accounts will be a reflection of the income and expenses of the business and will be used to prepare management reports for the management of the business or a financial institution.

What are source documents?

Source documents are any proof of the transactions that take place within a business. It could be invoices, receipts, debit notes, credit notes, till slips, etc. It shows the source of the transactions that are reflected on the bank statement. Source documents are also called supporting documents

Why are the source documents so important?

When you look at your bank statements you will mostly see POS purchases when you swipe your debit or credit card to buy goods. When a client pays you it will only show as a deposit.
The source documents will show exactly whether you’ve spent money on fuel, stationery, or printing. It will enable the bookkeeper to put the entry under the right category.

Why do you need a bookkeeper when you apply for funding?

The bank wants to see how well you manage your money, what is your income, what is are your expenses, what part of your business makes the most money, etc. Your bookkeeper will be able to prepare this information when you provide her with your bank statements and source documents. The banks and financial institutions want documents that will give them an overview of your business all in one place. A bookkeeper will know how to use your monthly bank statements to create the right accounts that are needed to prepare the financial reports for the bank. If you don’t have these reports prepared the bank will advise you to find a bookkeeper who can do that for you. If you are a business owner or self-employed the bank will not consider your application for funding without these reports because that is the proof of income they need to see if you qualify for the business loan.

For more information about we what we offer go to:
https://za.pinterest.com/profitsandbooks
https://www.linkedin.com/in/profitsandbooksbookkeepingservices
https://www.facebook.com/profitsandbooksbookkeeping/
https://twitter.com/profitsandbooks
https://anchor.fm/olivia-sambo
https://podcasts.apple.com/us/podcast/rose-tinted-glasses-with-olivia-sambo/id1522074736?uo=4
https://open.spotify.com/show/7JABIEU33PfULlam27sOyY
https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy8xOTUxMTA1OC9wb2RjYXN0L3Jzcw==
https://profitsandbooks.blogspot.com/
https://news.google.com/publications/CAAqBwgKMObWnAsw8uC0Aw?hl=en-ZA&gl=ZA&ceid=ZA%3Aen
https://g.page/r/CQEpG0p7PPdiEAE

To find out more about funding go to:
https//:www.Nedbank.co.za
https//:www.FNB.co.za
https//:www.Capitec.co.za
https//:www.Absa.co.za
https//:www.Standardbank.co.za
https//:www.Tymebank.co.za
https//:www.Bankzero.co.za
https//:www.Dti.co.za
https//:www.Nyda.co.za
https//:www.Investec.co.za
https//:www.Bidvest.co.za
https//:www.Sab.co.za
https//:www.Discoverybank.co.za

If you want to become a bookkeeper in South Africa go to:
www.icb.org.za

Your responsibility when you are under debt review in South Africa | Bad debt counselors |

Many consumers who are under debt review get in more trouble when they go to a dishonest debt counselor who doesn’t pay the money to the creditors.

Please note that I am not a debt counselor or a lawyer. You must still go to a registered debt counselor in South Africa for the right advice.

We are bookkeepers in Pretoria and we service clients across South Africa. Our focus is on preparing documents for business funding, tax preparation, and clean up of your business books, as well as monthly bookkeeping services.

To find out more about our bookkeeping services go to: https://profitandbooks.com/

I am Olivia Sambo, co-owner of Profits and Bookkeeping Services and Online Marketing Services. I am a qualified Bookkeeper who has studied with the Institute of Certified Bookkeepers, the ICB. My goal with every client is to understand their vision for their company so we can implement systems that will improve their cash flow, money management, and profitability.

Most clients come to me when they want their documents to be prepared for tax or when they want to apply for funding from a bank or a financial institution. In most cases, they’ve never had a bookkeeper, and all those years of neglecting their books take time and knowledge to untangle.

What skills do you need to be a bookkeeper?

You need to be someone who’s meticulous and pays attention to details because one digit in the wrong place can lead to the books not balancing. You need to be patient and focused to capture the information accurately because sometimes these numbers can be very overwhelming. You must be honest and have integrity because you deal with very confidential information about clients. You must honour the trust that your clients put in by safeguarding the trust and protecting their privacy.

What does a bookkeeper do?

Bookkeepers capture information from the source documents that a client provides. Different types of accounts then get created to reflect the assets, liabilities, income, expenses, and equity accounts. These accounts will be a reflection of the income and expenses of the business and will be used to prepare management reports for the management of the business or a financial institution.

What are source documents?

Source documents are any proof of the transactions that take place within a business. It could be invoices, receipts, debit notes, credit notes, till slips, etc. It shows the source of the transactions that are reflected on the bank statement. Source documents are also called supporting documents

Why are the source documents so important?

When you look at your bank statements you will mostly see POS purchases when you swipe your debit or credit card to buy goods. When a client pays you it will only show as a deposit.
The source documents will show exactly whether you’ve spent money on fuel, stationery, or printing. It will enable the bookkeeper to put the entry under the right category.

Why do you need a bookkeeper when you apply for funding?

The bank wants to see how well you manage your money, what is your income, and your expenses. What part of your business makes the most money, etc. Your bookkeeper will be able to prepare this information when you provide her with your bank statements and source documents. A bookkeeper will know how to use your monthly bank statements to create the right accounts that are needed to prepare the financial reports for the bank. If you don’t have these reports prepared the bank will advise you to find a bookkeeper who can do that for you. If you are a business owner or self-employed the bank will not consider your application for funding without these reports because that is the proof of income they need to see if you qualify for the business loan.

For more information about we what we offer go to:
https://za.pinterest.com/profitsandbooks
https://www.linkedin.com/in/profitsandbooksbookkeepingservices
https://www.facebook.com/profitsandbooksbookkeeping/
https://twitter.com/profitsandbooks
https://anchor.fm/olivia-sambo
https://podcasts.apple.com/us/podcast/rose-tinted-glasses-with-olivia-sambo/id1522074736?uo=4
https://open.spotify.com/show/7JABIEU33PfULlam27sOyY
https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy8xOTUxMTA1OC9wb2RjYXN0L3Jzcw==
https://profitsandbooks.blogspot.com/
https://news.google.com/publications/CAAqBwgKMObWnAsw8uC0Aw?hl=en-ZA&gl=ZA&ceid=ZA%3Aen
https://g.page/r/CQEpG0p7PPdiEAE

To find out more about funding go to:
https//:www.Nedbank.co.za
https//:www.FNB.co.za
https//:www.Capitec.co.za
https//:www.Absa.co.za
https//:www.Standardbank.co.za
https//:www.Tymebank.co.za
https//:www.Bankzero.co.za
https//:www.Dti.co.za
https//:www.Nyda.co.za
https//:www.Investec.co.za
https//:www.Bidvest.co.za
https//:www.Sab.co.za
https//:www.Discoverybank.co.za

“Can I still get a loan while under debt review” is a question many consumers ask.
The simple answer is NO – you can’t get a loan while you are under debt review. The NCA governed program of debt review is designed to get you OUT of debt.

@National Debt Advisors – Debt Counselling and Management

Many consumers have been trapped under debt review after being made to participate in the process without their knowledge. These consumers were made to believe that they were taking part in a debt consolidation process by some unscrupulous debt counsellors. Ensuring that the debt counsellor is registered and follows the process governed by the National Credit Regulator will help protect consumers against unscrupulous debt counsellors.

For more news, visit sabcnews.com and also #SABCNews on all Social Media platforms.