Debtfree Magazine November 2017
The November 2017 Issue of Debtfree Magazine. We discuss working with a PDA and getting ready for December.
The November 2017 Issue of Debtfree Magazine. We discuss working with a PDA and getting ready for December.
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ARE YOU WORKING WITH YOUR PDA?<br />
YOU DON’T HAVE<br />
TO USE A PDA<br />
Consumers can pay the restructured debt themselves (and make a<br />
separate payment for the Debt Counsellor’s fee) each month. The<br />
National Credit Act makes provision for this.<br />
Many financially able people choose to do so. Baring in mind that, they<br />
should stick exactly to the cascading payment plan and keep excellent<br />
record of each transaction through the years. It can be tricky ensuring that<br />
the payments are done timeously and keeping proof which they should<br />
forward to their Debt Counsellors each month. These records will be vital<br />
when trying to reconcile the balances with the bank each month (or couple<br />
of months) and in case of disputes. Consumers must also pay the exact<br />
right amount to the right accounts each month (as they shift and change<br />
over time according to the repayment plan).<br />
For most consumers who have been struggling to make their obligatory<br />
monthly debt payments over many years, this is realistically out of reach<br />
for them. What then?
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