Debtfree Magazine October 2017

QUESTIONS FROM OUR READERS
Q
A
Credit Provider called and said that my accounts are not being
paid. Should I be worried? Should I cancel my debt review?
A
If you recently began debt review it is important to remember that
in month one and two of the process there are fees which will affect
payments of your debts. If you have a smaller monthly payment (less than R6000)
it is possible that your payments are being allocated to the Debt Counsellor
and attorneys (as per your repayment plan- which your credit providers have
received).
If you get a call from someone saying they are from the credit provider and
saying things like this, be sure to check that they actually know what they are
talking about. Ask them which PDA is doing your Distributions and how much
the court order (or proposal) says they should get this month? Check that with
papers you have from your Debt Counsellor. If there is a difference then get
them to contact your Debt Counsellor. Remember your debt review is a legal
matter and they need to talk to the applicant or your attorneys.
Never cancel your debt review without first having a very serious and very
detailed conversation with your Debt Counsellor (not just one of their staff
members). Leaving debt review in a rush can leave you in a worse financial
situation than before the process even started. This can be true even after
several years. Talk to your Debt Counsellor.