How It Works

How a Debt Review works

Make the decision

If you struggle to make monthly payments on your accounts, you need to make a decision to deal with your debt. To apply for Debt Review you need to gather the required documents.

Gather the necessary documents

  • Copy of your ID
  • Water & Electricity Account
  • Salary Slip
  • Marriage Certificate
  • Latest Account Statements
  • Proof of expenses e.g. Insurance

Apply for Debt Review

To apply, download our application form and complete all the information needed. Email or fax the form and all required documents to us.

We notify all your creditors

As soon as we receive your application, we will phone you and confirm that you want to proceed. We will then notify your credit providers. This will prevent credit providers to start legal action against you.

We restructure all your accounts

Your payments doesn't stop. When you apply, we will provide you with a one reduced amount to pay on your accounts while we restructure your debt and negotiate on your behalf.

We obtain a court order

The Debt Review process takes 60 working days to complete from the date of your application until we have a court date. We then obtain the court order on the date the attorney appears in court.

Fees and Monthly Payments.

The costs involved and monthly payments on accounts

What Will I Have to Pay?

When you apply, we will provide you with a new amount to pay. In the 1st and 2nd month your creditors will not receive any money to allow our fees to be paid first. From the 3rd month payments your accounts will start.

Debt Counsellor's Fee

Our DC Fee for a single or joint application is the amount of your first payment up to a maximum or R 6000.00. If your first payment is more than R 6000.00, the remainder is paid towards the legal fee.

Legal Fee for Attorney

The legal fee is paid to our attorneys to obtain a court order. You will pay R 3500.00 for a single application and R 4500.00 for a joint application. This is paid in the 2nd month and any balance will be paid in installments with no interest.

DC After Care Fee

A DC After Care fee is deducted monthly from your payment. For the first 24 months it's calculated at 5% to a maximum of R 400.00. Thereafter it's calculated at 3% to maximum of R400.00.

Payment Distribution Agent

Your monthly payment is deducted via debit order by the PDA. They then pay all your accounts every month. Hyphen PDA is paid 5% of your monthly payment to a maximum of R500.00

Monthly Payments

You must not skip a monthly payment. If you skip a payment, your credit providers can terminate the debt review and continue with legal action against you.