CharlesM
10-04-2008, 11:55 PM
Are there any Debt Counsellors that use this forum?
View Full Version : Debt Counselling
acidrain
11-04-2008, 02:10 AM
Ye, id be interested aswell since on sat im going to the bank :( hoping they'll give me some sort of suspended payment on my accounts
McGuywer
11-04-2008, 08:01 AM
Are there any Debt Counsellors that use this forum?
Perhaps......
;)
Perhaps......
;)
Xenophon
11-04-2008, 08:10 AM
i'm under debt councelling, does that count? :p i'll post the link where you can get a list of debt counsellors once i'm at the office
Mephisto_Helix
11-04-2008, 08:15 AM
Aren't they a bit too much like liquidators? I heard that once you go to them you have to do as they 'advise'. Fsuk that thanks.
Waaib
11-04-2008, 08:21 AM
I can recommend a guy from Cape Town. He presentations at a place I was working a while ago. PM if required.
Dolby
11-04-2008, 09:40 AM
What sort of help do they provide though?
xrapidx
11-04-2008, 09:46 AM
EDIT ^^^ WHAT HE SAID
What does it involve, debt counselling, I don't need it, my credit card is only at -60,000, I was just curious :P
What does it involve, debt counselling, I don't need it, my credit card is only at -60,000, I was just curious :P
CharlesM
13-04-2008, 12:01 AM
Ye, id be interested aswell since on sat im going to the bank :( hoping they'll give me some sort of suspended payment on my accounts
So how'd the bank escapade go? Were they leniant?
So how'd the bank escapade go? Were they leniant?
CharlesM
13-04-2008, 12:02 AM
Perhaps......
;)
Are you a debt counsellor?
;)
Are you a debt counsellor?
CharlesM
13-04-2008, 12:03 AM
i'm under debt councelling, does that count? :p i'll post the link where you can get a list of debt counsellors once i'm at the office
Please PM me the contact details?
Please PM me the contact details?
CharlesM
13-04-2008, 12:06 AM
Aren't they a bit too much like liquidators? I heard that once you go to them you have to do as they 'advise'. Fsuk that thanks.
They're not like liquidators at all. They are counsellors, and it might be good if one does as they say if in a position that brought you to one of them. They assess your financial situation and draw up a plan that you should follow to get rid of your debt.
There is one rule, however, you must stop making use of credit facilities if you are under debt review.
For those that rely on their credit card to get through the month, don't worry... You submit a detailed budget of ALL your expenses,including daily things like lunch, petrol, etc.
They enable you to live within your means and keep the sheriff from fetching your furniture...
They're not like liquidators at all. They are counsellors, and it might be good if one does as they say if in a position that brought you to one of them. They assess your financial situation and draw up a plan that you should follow to get rid of your debt.
There is one rule, however, you must stop making use of credit facilities if you are under debt review.
For those that rely on their credit card to get through the month, don't worry... You submit a detailed budget of ALL your expenses,including daily things like lunch, petrol, etc.
They enable you to live within your means and keep the sheriff from fetching your furniture...
pmh
21-04-2008, 08:52 AM
hi i'm new here :)
i also think i am in need of a debt counsellor, i have made a lot of bad desicions regarding money or should i say money i didnt have. i am in a very deep hole and not sure where to turn right now. its gotten so bad that i am pretty depressed :(
My question is, is a debt counsellor going to be able to help me? what do they usually charge? as i dont really have a lot of money to play with at the moment.
i also think i am in need of a debt counsellor, i have made a lot of bad desicions regarding money or should i say money i didnt have. i am in a very deep hole and not sure where to turn right now. its gotten so bad that i am pretty depressed :(
My question is, is a debt counsellor going to be able to help me? what do they usually charge? as i dont really have a lot of money to play with at the moment.
Alan M
27-04-2008, 11:12 PM
Hi guys
I'm a registered debt counsellor and would be happy to answer specific questions you may have.
just from reading the thread so far, i would like to point out a couple of things though:
firstly, the debt counsellor acts as your agent so its a case of them giving u direction and advice - it remains for u to decide whether u want to follow it. I'd say it's important to build up a working relationship and find someone u trust is looking out for your best interests.
secondly, in terms of costs, you are required to pay R50 upfront with your application - after that the fees are built into your monthly debt repayment. this has been specifically designed to make debt counselling affordable to people in financial difficulty.
and my last point is the sooner u seek financial help, whether it be from a debt counsellor, a financial coach or your bank, the easier it is to manage the problem. most people tend to ignore the problem until they start getting threatening letters which means that they are already in arrears.
e-mail me on info@moneyclinic.co.za if you would like an excel format budget or if u'd perhaps just like to get an opinion - it's free :)
I'm a registered debt counsellor and would be happy to answer specific questions you may have.
just from reading the thread so far, i would like to point out a couple of things though:
firstly, the debt counsellor acts as your agent so its a case of them giving u direction and advice - it remains for u to decide whether u want to follow it. I'd say it's important to build up a working relationship and find someone u trust is looking out for your best interests.
secondly, in terms of costs, you are required to pay R50 upfront with your application - after that the fees are built into your monthly debt repayment. this has been specifically designed to make debt counselling affordable to people in financial difficulty.
and my last point is the sooner u seek financial help, whether it be from a debt counsellor, a financial coach or your bank, the easier it is to manage the problem. most people tend to ignore the problem until they start getting threatening letters which means that they are already in arrears.
e-mail me on info@moneyclinic.co.za if you would like an excel format budget or if u'd perhaps just like to get an opinion - it's free :)
CharlesM
28-04-2008, 07:12 AM
I am busy building a directory of Debt Counselors on the mydebt.co.za website, I've found it VERY hard to get hold of debt counselors, and the one referred to me by NCR was a nightmare!
DarkDenim
28-04-2008, 07:28 AM
It seems like a lot of people are in major debt :(
I'm going to try and consolidate my debt before I end up in crap.
I'm going to try and consolidate my debt before I end up in crap.
rocky34
11-07-2008, 04:00 PM
I have a huge directory of Debt Counselors. If anybody interested in it then send me a reply.:)
___________________________________
rocky34
Credit Card Debt (http://www.stop-credit-card-debt.com)
___________________________________
rocky34
Credit Card Debt (http://www.stop-credit-card-debt.com)
Lord Anubis
11-07-2008, 10:06 PM
http://mybroadband.co.za/vb//showpost.php?p=1895141&postcount=77
some thoughts.....well google is free, no offense but there are a multitide of easy plans out there free of charge that will help you get out of debt. The thing is, even if you had R10K a month more you would still be broke and credit cards maxed out. Debt is a behaviour. You will continue to repeat the cycle until you figure out that you should never have a credit card, clothes and food must be bought cash, furniture and appliances..and entertainment in whatever form must always be bought cash. 2nd hand cheapy cars are just as good and there's no shame in renting untill you really can afford to buy. Give it up. Free yourself. Sell all your cr@p if you must. Debt Free is a state of mind first. You can always start over. You do not have to go down with the ship. Sell your house. Sell your car. Sell your furniture! Pay it off and walk away free!!!
some thoughts.....well google is free, no offense but there are a multitide of easy plans out there free of charge that will help you get out of debt. The thing is, even if you had R10K a month more you would still be broke and credit cards maxed out. Debt is a behaviour. You will continue to repeat the cycle until you figure out that you should never have a credit card, clothes and food must be bought cash, furniture and appliances..and entertainment in whatever form must always be bought cash. 2nd hand cheapy cars are just as good and there's no shame in renting untill you really can afford to buy. Give it up. Free yourself. Sell all your cr@p if you must. Debt Free is a state of mind first. You can always start over. You do not have to go down with the ship. Sell your house. Sell your car. Sell your furniture! Pay it off and walk away free!!!
CharlesM
11-07-2008, 10:08 PM
http://mybroadband.co.za/vb//showpost.php?p=1895141&postcount=77
some thoughts.....well google is free, no offense but there are a multitide of easy plans out there free of charge that will help you get out of debt. The thing is, even if you had R10K a month more you would still be broke and credit cards maxed out. Debt is a behaviour. You will continue to repeat the cycle until you figure out that you should never have a credit card, clothes and food must be bought cash, furniture and appliances..and entertainment in whatever form must always be bought cash. 2nd hand cheapy cars are just as good and there's no shame in renting untill you really can afford to buy. Give it up. Free yourself. Sell all your cr@p if you must. Debt Free is a state of mind first. You can always start over. You do not have to go down with the ship. Sell your house. Sell your car. Sell your furniture! Pay it off and walk away free!!!
That's the best advice anyone can ever!
some thoughts.....well google is free, no offense but there are a multitide of easy plans out there free of charge that will help you get out of debt. The thing is, even if you had R10K a month more you would still be broke and credit cards maxed out. Debt is a behaviour. You will continue to repeat the cycle until you figure out that you should never have a credit card, clothes and food must be bought cash, furniture and appliances..and entertainment in whatever form must always be bought cash. 2nd hand cheapy cars are just as good and there's no shame in renting untill you really can afford to buy. Give it up. Free yourself. Sell all your cr@p if you must. Debt Free is a state of mind first. You can always start over. You do not have to go down with the ship. Sell your house. Sell your car. Sell your furniture! Pay it off and walk away free!!!
That's the best advice anyone can ever!
Lord Anubis
11-07-2008, 10:09 PM
ps..no matter what you earn, after food, shelter and transport, and some stocks say at least R500-00p . Irrespective if you Rent or buy your home. Always have 50% of your salary left! That way you will alwyas have enough cash on hand to give yourself a livable daily allowance for you. That is why you work!!
onebrickshort
11-07-2008, 11:25 PM
There's someone called Skinner He's a debt counsellor of sorts
risingtide
12-07-2008, 09:04 AM
secondly, in terms of costs, you are required to pay R50 upfront with your application - after that the fees are built into your monthly debt repayment.
IIRC, there was a mention of R300 per month as a debt counsellor's fee. Is that what one could expect?
How does including such a figure in the monthly debt repayment square up with the requirements that where contracts are entered into, e.g. insurance agents, the fees and commissions have to be disclosed?
IIRC, there was a mention of R300 per month as a debt counsellor's fee. Is that what one could expect?
How does including such a figure in the monthly debt repayment square up with the requirements that where contracts are entered into, e.g. insurance agents, the fees and commissions have to be disclosed?
avdp
03-11-2008, 10:53 AM
I have a huge directory of Debt Counselors. If anybody interested in it then send me a reply.:)
___________________________________
rocky34
Credit Card Debt (http://www.stop-credit-card-debt.com)
I have to re-start this thread, seeing as the over-indebtednees of the country is very bad at this moment.
Regarding your HUGE directory, you can just get it on the NCR website, where they list all debt counselllors, by area. Why would we need your list? Also, one post only? Hmmmmm......
___________________________________
rocky34
Credit Card Debt (http://www.stop-credit-card-debt.com)
I have to re-start this thread, seeing as the over-indebtednees of the country is very bad at this moment.
Regarding your HUGE directory, you can just get it on the NCR website, where they list all debt counselllors, by area. Why would we need your list? Also, one post only? Hmmmmm......
jsheed_sa
03-11-2008, 12:19 PM
I used to work for Barclays and the free debt advisors are just as good as the non free - CAB (Citizens advice Bureau) and the CCCS (Consumer Credit Counselling Services). - UK. Surely there is something locally like this?
The paid debt advisors often didn't help as people had less cash to cover their debts as they were spending money they didnt have on advice that they could have gotten for free.
2c.
J
Hi guys
I'm a registered debt counsellor and would be happy to answer specific questions you may have.
just from reading the thread so far, i would like to point out a couple of things though:
firstly, the debt counsellor acts as your agent so its a case of them giving u direction and advice - it remains for u to decide whether u want to follow it. I'd say it's important to build up a working relationship and find someone u trust is looking out for your best interests.
secondly, in terms of costs, you are required to pay R50 upfront with your application - after that the fees are built into your monthly debt repayment. this has been specifically designed to make debt counselling affordable to people in financial difficulty.
and my last point is the sooner u seek financial help, whether it be from a debt counsellor, a financial coach or your bank, the easier it is to manage the problem. most people tend to ignore the problem until they start getting threatening letters which means that they are already in arrears.
e-mail me on info@moneyclinic.co.za if you would like an excel format budget or if u'd perhaps just like to get an opinion - it's free :)
The paid debt advisors often didn't help as people had less cash to cover their debts as they were spending money they didnt have on advice that they could have gotten for free.
2c.
J
Hi guys
I'm a registered debt counsellor and would be happy to answer specific questions you may have.
just from reading the thread so far, i would like to point out a couple of things though:
firstly, the debt counsellor acts as your agent so its a case of them giving u direction and advice - it remains for u to decide whether u want to follow it. I'd say it's important to build up a working relationship and find someone u trust is looking out for your best interests.
secondly, in terms of costs, you are required to pay R50 upfront with your application - after that the fees are built into your monthly debt repayment. this has been specifically designed to make debt counselling affordable to people in financial difficulty.
and my last point is the sooner u seek financial help, whether it be from a debt counsellor, a financial coach or your bank, the easier it is to manage the problem. most people tend to ignore the problem until they start getting threatening letters which means that they are already in arrears.
e-mail me on info@moneyclinic.co.za if you would like an excel format budget or if u'd perhaps just like to get an opinion - it's free :)
avdp
03-11-2008, 01:41 PM
I used to work for Barclays and the free debt advisors are just as good as the non free - CAB (Citizens advice Bureau) and the CCCS (Consumer Credit Counselling Services). - UK. Surely there is something locally like this?
The paid debt advisors often didn't help as people had less cash to cover their debts as they were spending money they didnt have on advice that they could have gotten for free.
2c.
J
Unfortunately there are no free debt counselling services in SA, however, there are limits on what you can charge a client, and it cannot be more than what they have available to repay their creditors per month, ie if he only has R500 to repay, you cannot charge more than that as your fee, and it is taken from that first months repayment. This is all legislated, and the creditors are aware of this.
The important thing a lot of people dont understand, is that seeing a debt counsellor can prevent legal action from being taken against you whilst you apply for debt review.
The paid debt advisors often didn't help as people had less cash to cover their debts as they were spending money they didnt have on advice that they could have gotten for free.
2c.
J
Unfortunately there are no free debt counselling services in SA, however, there are limits on what you can charge a client, and it cannot be more than what they have available to repay their creditors per month, ie if he only has R500 to repay, you cannot charge more than that as your fee, and it is taken from that first months repayment. This is all legislated, and the creditors are aware of this.
The important thing a lot of people dont understand, is that seeing a debt counsellor can prevent legal action from being taken against you whilst you apply for debt review.
jsheed_sa
03-11-2008, 02:52 PM
Unfortunately there are no free debt counselling services in SA, however, there are limits on what you can charge a client, and it cannot be more than what they have available to repay their creditors per month, ie if he only has R500 to repay, you cannot charge more than that as your fee, and it is taken from that first months repayment. This is all legislated, and the creditors are aware of this.
The important thing a lot of people dont understand, is that seeing a debt counsellor can prevent legal action from being taken against you whilst you apply for debt review.
Yep if we knew people were under debt review depending on the ptp (promise to pay) or lptp (low promise to pay) we would offer them a deal of anywhere between 3-6 months depending on the amount where we would halt all legal proceedings. Don't be too proud - going in and making that first step sure does help and it keeps the hounds at bay.
J
The important thing a lot of people dont understand, is that seeing a debt counsellor can prevent legal action from being taken against you whilst you apply for debt review.
Yep if we knew people were under debt review depending on the ptp (promise to pay) or lptp (low promise to pay) we would offer them a deal of anywhere between 3-6 months depending on the amount where we would halt all legal proceedings. Don't be too proud - going in and making that first step sure does help and it keeps the hounds at bay.
J
CharlesM
05-11-2008, 05:47 AM
IIRC, there was a mention of R300 per month as a debt counsellor's fee. Is that what one could expect?
How does including such a figure in the monthly debt repayment square up with the requirements that where contracts are entered into, e.g. insurance agents, the fees and commissions have to be disclosed?
Debt Counsellors charge as follows:
Once Off R50.
First payment you make is the counsellor's.
5% of the amount the negotiate for you, they get each month.
...talk about fantastic residual income, lol!
How does including such a figure in the monthly debt repayment square up with the requirements that where contracts are entered into, e.g. insurance agents, the fees and commissions have to be disclosed?
Debt Counsellors charge as follows:
Once Off R50.
First payment you make is the counsellor's.
5% of the amount the negotiate for you, they get each month.
...talk about fantastic residual income, lol!
avdp
08-11-2008, 11:53 AM
Debt Counsellors charge as follows:
Once Off R50.
First payment you make is the counsellor's.
5% of the amount the negotiate for you, they get each month.
...talk about fantastic residual income, lol!
Yeah, but the 5% is your aftercare fee. If there are any changes that need to be made, ie increasing your payments if you have more funds available etc, then there is no other fee to redo the restructuring etc. Also, if for example you get retrenched, they have to inform the creditors so they dont immediately take legal action, which is what can happen...... And it's capped at R300
Once Off R50.
First payment you make is the counsellor's.
5% of the amount the negotiate for you, they get each month.
...talk about fantastic residual income, lol!
Yeah, but the 5% is your aftercare fee. If there are any changes that need to be made, ie increasing your payments if you have more funds available etc, then there is no other fee to redo the restructuring etc. Also, if for example you get retrenched, they have to inform the creditors so they dont immediately take legal action, which is what can happen...... And it's capped at R300