Debt Mediation

Debt mediation is a process that is intended to help consumers who are experiencing a cash flow problem that might only last a few months. An alternative arrangement affordable to the consumer and acceptable to the creditor is made on the consumer’s behalf.

WHAT ARE THE BENEFITS OF DEBT MEDIATION?

If not already listed, you will be protected from being blacklisted;
Legal action, including repossession of your assets will be prevented where possible;
Alternative arrangements will be made with your credit providers, on your behalf, to lower your installments;
If you are over indebted, we can, instead of taking your case to court, apply the industry restructuring rules. If the rules are applied correctly, credit providers that are members of the NDMA are obliged to automatically accept the proposal;
You will be provided with an agreed, affordable and realistic monthly budget in order to resolve the situation in the shortest possible time;
Improved overall financial position.

Can i do debt mediation on my own?

No, it is not advisable. The model used to prepare a repayment plan, is based on a set of pre-agreed “rules”. The application of the rules is complex and a computer program would be required to prepare and table such proposals. If an unaccredited system is used, credit providers may question the proposal / plan and possibly reject it.

What can we do for you?

Give you budget advice;

Give you legal advice;

Restructure your debts;

Explain your situation to your credit providers, on your behalf, and make arrangements to lower your instalments;

Make realistic arrangements so that you can stick to the payments agreed upon;

Provide you with basic information necessary to resolve your day-to-day credit problems, to avoid being caught in the same debt trap;

Provide you with support and additional services such as budgeting skills;

An independent Financial Advisor is also available to provide advice and guidance on insurance, be it health or life.

Talk to us today to become debt free.