Fidelity Debt Counselling Services (Pty), Pietermaritzburg

If a consumer believes that he/she is over-indebted he/she has the right to apply to a

debt counsellor to have himself or herself declared over-indebted. This procedure is only in place in respect of credit agreements where the credit provider has not issued Summons.

The purpose of debt review is to head off legal action to seek a negotiated settlement and to obtain a court order against the credit providers forcing them to accept a lesser installment and/or to extend the repayment period of the agreements.
Upon receipt of your application and payment of the statutory fee of R50.00, we will give notice to all credit
bureaus and to all your creditors that you have applied for a debt review. Thereafter, for a period of 60 business days, and whilst the debt review process is still ongoing, your creditors under your credit agreements may not proceed against you for payment of your installments or repossess any of the assets under the credit agreements such as your house, car or furniture. You may however not incur further credit during this period.

You will be required to complete a statutory form at our offices setting out all your financial information.
We will verify this information with your creditors.

Should we find that you are over-indebted, we will attempt to reach settlement with your creditors on
reduced installments, interest and capital. Should this fail, we will ask the Court to make our proposal an Order of Court. Such Order will reduce installments and extend the period of your credit agreements.

As long as you honour your obligations under the debt review program, your creditors have no recourse against you or your assets.

Once your debt has been paid in full, we will issue you with a clearance certificate confirming that your
debt review program has been completed and that you are Debt free.