debt review process
TRANSCRIPT
DEBT REVIEW PROCESS
WHAT IS DEBT REVIEW???
When your Expenses exceeds
/overweighs your Earnings
OVER INDEBTED CONSUMER
CONSUMER
DEBT COUNSELLOR
The NCR will protect the over indebted
A Debt Counselor will assist you in managing your debt
A Debt Counselor will assist you in managing your debt
No longer afraid to open letters.
BEFOREAFTER
CONSUMER DEBT COUNSELLOR
PRODUCES THE FOLLOWING TO
THE DC : ID, MARRIAGE CERT, RECENT
PAYSLIP, CREDITOR
STATEMENTS ETC.
CONSUMER REALISES THAT HE IS OVER INDEBTED AND SEEKS FINANCIAL ASSISTANCE FROM A DEBT COUNSELLOR
DEBT COUNSELLOR assists the consumer
FORM 16 (APPLICATION FOR
DEBT REVIEW)
& DEBIT ORDER
CANCELLATION
DEBT COUNSELLOR
CF ACTS ON BEHALF OF THE CREDIT PROVIDER
FORM 17.1
BLOCK ACC &
REG 24/COBSENT
WITHIN 5 BUSINESS
DAYS
1 2
CREDIT PROVIDER eg :WFS,TRU,TFG,RCS,CAPFIN & DA
DEBT COUNSELLOR
PROPOSAL
CONSENT / REJECTION
LETTER WITHIN
10 BUS. DAYS
3 4
CREDIT PROVIDER eg :WFS,TRU,TFG,RCS,CAPFIN & DA
P.D.A
consumer makes
payment to PAYMENT
DISTRIBUTION AGENCY
RECEIPTS PAYMENTS & PAYOVER TO
CREDIT PROVIDERS
5 6
CREDIT PROVIDER eg :WFS,TRU,TFG,RCS,CAPFIN & DA
ACCOUNT SETTLED
CLEARANCE
CERTIFICATE
ISSUED
PAID UP
LETTER/S
ISSUED
DEBT FREE
AND
FINANCIAL RELIEF
7 8