Finding Relief from Debt
Debt Review
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What is Debt Review?
Feeling overwhelmed by mounting debt? Engelsman Magabane Incorporated can help. Our debt review specialists understand the complexities of financial strain and can guide you through the debt review process, a legal solution designed to manage your debt and achieve financial freedom.
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South African Law and Debt Review
Debt review is a formal process outlined in the National Credit Act (NCA) to assist over-indebted consumers. It involves appointing a registered debt counsellor who negotiates with your creditors to lower interest rates, extend repayment terms, and consolidate your debts into a single, manageable monthly installment.
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The Process of Debt Review
- Initial Consultation: We will discuss your financial situation, analyze your debts, and assess your eligibility for debt review.
- Debt Counselling Appointment: If eligible, we will connect you with a qualified debt counsellor who will guide you through the entire process.
- Negotiation & Consolidation: The debt counsellor negotiates with creditors on your behalf to reduce interest rates and create a sustainable repayment plan.
- Payment Administration: Your monthly debt review payments are made to the debt counsellor, who then distributes them proportionally to your creditors.
- Debt Repayment & Clearance: Once all your debts are settled, you will receive a clearance certificate, signifying your successful completion of debt review.
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Consultation Process
We offer a comprehensive approach to debt review, including:
- Eligibility Assessment: We will determine if debt review is the most suitable solution for your circumstances.
- Debt Counsellor Selection: We can connect you with a qualified and experienced debt counsellor who prioritizes your best interests.
- Ongoing Support: We provide ongoing guidance and support throughout the debt review process.
- Creditor Communication: We ensure clear communication is maintained with all your creditors.
- Financial Education: We can offer guidance on budgeting and responsible debt management for a brighter financial future.
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Why Choose Engelsman Magabane Incorporated?
Choosing Engelsman Magabane Incorporated provides you with several benefits:
- Experienced Debt Review Specialists: Our team has in-depth knowledge of the debt review process and the National Credit Act.
- Client-Centered Approach: We understand the emotional stress of debt and prioritize finding solutions tailored to your unique situation.
- Negotiation Expertise: We leverage our experience to negotiate favorable terms with your creditors, maximizing your debt relief.
- Transparency & Communication: We maintain clear and open communication with you throughout the debt review process.
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Elzaan Botha
LLB North West University Potchefstroom
Shaneal Feltman
LLB University of the Free State
Let's Discuss Your Legal Needs
Have Questions?
Don’t let debt control your life. Contact Engelsman Magabane Incorporated today. Schedule a consultation to discuss your debt situation and explore if debt review can be your path towards financial freedom.