What this involves
Once you are formally under debt review and keeping to the plan, credit providers cannot repossess goods or take further legal action against you on the included debts.
The process starts with a debt counsellor issuing a Form 17.1 (application) to your credit providers and credit bureaus, which immediately flags your accounts. We then prepare a Form 17.2 restructuring proposal based on your actual affordability, negotiate it with each credit provider, and, once agreed, apply to the Magistrate's Court (or via consent order) to make it a binding court order.
You typically stay under review for the remaining term of your restructured debts. Paying off a debt early does not remove it from the plan until we issue a clearance certificate confirming all included debts are settled and your credit record is updated accordingly.
Debt review is not the same as sequestration or administration orders — it does not affect your ability to keep working, does not require surrendering your estate, and (unlike administration orders) has no fixed debt ceiling under the National Credit Act.
How long does it take?
Getting the restructuring proposal negotiated and made a binding court order usually takes 6 to 12 weeks. The review itself then continues for the remaining term of your restructured debts, commonly 3 to 5 years.
What will it cost?
Debt counselling fees are regulated under the National Credit Act. We confirm the exact amounts at intake, before you commit to anything.
Covers: Application, affordability assessment and creditor proposal.
This is an estimate, not a quote. The final fee depends on the facts and how complex your matter turns out to be, and your Attorney confirms it in writing before work starts. Court fees, sheriff’s fees, counsel and other disbursements are charged separately.
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