Debt Help

Do you need debt help? Debt can feel scary; like there’s no way out despite all your best efforts. You might toss and turn all night, knee-deep in sickening worry about the legal implications of being trapped, uncertain about the future and what could happen to you. It truly takes an emotional toll.

The good news? You don’t have to feel overwhelmed or hopeless anymore. True North Debt can protect you from legal action, having your assets repossessed, administration and garnishee orders, bankruptcy, and other calamitous consequences of debt.

Debt counselling, or debt review, is a debt help system wherein a debt counsellor negotiates with creditors for reduced debt repayments and interest rates– your rights under debt review. You’re instantly protected from legal action and asset repossession as soon as you apply and save money.

How Does It Work?

Reach out to us and we’ll guide you through filling out a Form 16. This is the application form where you list your debts, assets, gross and net income, living expenses, and the like. We’ll then assess if you’re over-indebted, which is what makes you eligible for debt review. If you are, we’ll issue you a Form 17.2 and register you on the Debt Help System. You would now be protected from all legal charges and asset repossession. If we find you not over-indebted, we’ll issue a Form 17.1.

After you’re confirmed as over-indebted, your creditors and the court will be notified that you’re registered for debt review. Soon after that, negotiations with your creditors will begin. We’ll do our level best to negotiate your repayments and interest as low as we can. We might also assess for reckless lending (when someone lends you money when they know you can’t afford it) and incidental debt.

You’ll make grossly reduced monthly payments to a PDA (payment distribution agency), which will distribute the payments to your respective creditors as per your payment plan. Once everyone has been paid back, your debt counsellor will issue you a clearance certificate that you can submit to the credit bureaux to remove the debt review flag from your credit profile.

After this, you’re officially debt-free and can begin building your credit and financial fitness once more.

Contact True North Debt if you would like to live debt-free!