DEBT MEDIATION PROCESS

Once you have decided to proceed with SA CONSUMER DEBT ASSESSORS, your financial Situation will be closely examined with the result being a new repayment plan being entered into with your credit providers which should ease your financial burden. With this process of mediating your debt, you will NOT be placed under administration, and this is NOT Debt Review or Debt counselling. The process is quick and easy and agreements with your creditors are normally secured in a matter of a few days. SACDA will negotiate with your credit providers with the goal to reduce your monthly instalments and improve your current personal financial situation. We will get your creditors to agree to this in writing. SACDA does not assist with bonds, motor vehicle finance, SARS, and traffic fines. All other accounts can be negotiated. SACDA will discuss/request a monthly instalment that is more affordable for you and therefor improve your net disposable monthly income’s will then, in terms of Section 129(1) (a) and Sec 130 of the NCA, propose a payment plan to the creditors.

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Once your application has been processed and approved, consent to mediate will be issued by SACDA which you will need to sign and return to SACDA. On signing the consent to mediate an account will be opened for you in your name at Gribbon Trading. Gribbon Trading will administer the payment of your funds to your credit providers according to the new monthly payments. You will receive via e-mail a monthly statement that will reflect the payments that are being made to your credit providers and you will therefor always be aware of what is happening on your accounts and what your outstanding balances are. We are here to assist and guide you. Please do not hesitate to contact us at any time to discuss or explain your matter. Also be advised that we do not accept any cash payments and first payments are non-refundable due to the process starting once the mandate has been accepted, this is for your safety and security.

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