Tel : +27 21 820 4233 | Cell : +27 7472 22814 | Email : info@miran.co.za or dc@miran.co.za Suite 504 5th Floor, JDN House 26A Shortmarket Street Cape Town Debt Counselling offers a remedy to over indebtedness that has the aim at rehabilitation into the credit market. Debt Review will protect the consumer from losing crucial assets and keep the Credit Providers from taking legal action on accounts that was lawfully included in the debt review. All accounts will be consolidated into one monthly payment to obtain more control over your finances. Upon agreement from credited providers, the Debt Counsellor will file an application to the magistrate court to obtain to obtain a consent order. This order of court will formalise the arrangement. Upon the completion of the term of the arrangement, the Debt Counsellor will provide a clearance certificate to the relevant parties and bodies. The Debt Counselling Process Step 1 Provide all income and expense documents to the Debt Counsellor Step 2 The Debt Counsellor will assess the application to ascertain if you are over indebted. Once this is obtained, then a consultation will be arranged with you. Step 3 During the consultation the Debt Counsellor will verify your budget and your existing debt commitments. A new budget will be agreed and the amount available for debt repayment will be determined. The Debt Counsellor will also provide you with details of all the costs as well as an interim repayment plan. This is when you officially apply for Debt Counselling. Step 4 The Debt Counsellor will contact all your Credit Providers as well as the Credit Bureaus to verify your debt. You will also be listed on the Credit Bereaus that you are under debt counselling. This listing will stay there until you have paid everything off, then it will be completely removed Step 5 The Credit Providers may accept the proposals and if all of them do then a Consent Order will be obtained from a Magistrate Court. If one or more of the Credit Providers do not accept the proposed repayment plan the Debt Counsellor will submit a proposal to the Magistrate for a decision. Step 6 The Debt Counsellor will provide you with a final repayment plan and this repayment plan is also submitted to a Payment Distribution Agency (PDA). The aim of this is to collect a single payment from you and ensure that the correct amount is paid to all Credit Providers on a monthly basis. This will continue until the debt has been repaid. This process is facilitated by a registered debt counsellor.