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WE ASSIST WITH:

  • Credit Bureau Clearances

  • Reckless Credit Allegations

  • Consumer Protection

  • Sequestration

  • Liquidation

  • Administration

  • Garnishee Order Removal

  • Rescission of Judgements

  • Debt Review Cancellation

  • Administration Removal

 

REASONS TO GO WITH GLOBAL

  • We are Certified and Registered with the National Credit Regulator
  • We utilize Industry Leading Software
  • We are Specialists in the Field
  • We employ in-house Attorneys
  • We treat all Clients with Respect
  • We maintain Confidentiality
  • Legal Assistance by Specialist Attorneys
  • We guarantee our service

 

TIPS FOR CONSUMERS

NEVER IGNORE A LEGAL LETTER.  THERE ARE MANY WAYS OF RESOLVING DEBT ISSUES.  THE TRICK IS BEING PROACTIVE AND SEEKING HELP IMMEDIATELY

 

 

 

TO APPLY FOR DEBT COUNSELLING VISIT OUR DEBT REVIEW SITE CLICK HERE

 

 

 

Global Debt Solutions was established to assist consumer's who have impaired credit reports and have been blacklisted either by way of judgements, adverse listings, debt review or administration.

As a consumer, you have automatic legal rights that accrue to you in terms of the National Credit Act 34 of 2005 and Consumer Protection Act.

Creditors, Debt Collectors and Attorneys must follow strict procedure when litigating and proceeding to recover debt.  It is advisable to obtain your credit report at least twice a year so ensure that you have not been listed with the various credit bureaus.

If you have, there are options available to you. You may settle the outstanding debt  or you can dispute the listing with a bureau should you be in disagreement. A consumer may further settle arrears and request the bureau to update their records.

A consumer may dispute debt where 3 years have expired and where no legal steps have been taken to recover the said debt. Prescription may be raised in such instances with credit providers, debt collectors & attorneys.

 

 

Three important reasons to go with Global Debt Solutions:

 

1. Global Debt Solutions are leaders in the field of credit & consumer law and is the only company in South Africa to offer a free assessment. Once we have conducted an assessment,we will be in a better position to advise you on whether we will be able to assist you;

2.The company is owned and managed by attorneys who are registered with the Law Society.  Your funds are always protected and safe. They are fully versed with the National Credit Act, The Consumer Protection Act and the Rule of Law pertaining to credit transactions in South Africa; and

3. We offer easy payment options.

 

 

 

DEBT REVIEW CANCELLATION

(WITHDRAWAL OR RESCISSION)

 

It often happens that a consumer is over-indebted and applies for debt review. They later find that their financial circumstances have changed due to a dramatic increase in their salary and they are now able to service their original monthly debt obligations.  They would have a prima facie case for cancelling their debt review. 

 

A formal consult with the consumer will establish whether there are merits to their case. You should only consider coming out of debt review if you are able to manage payments comfortably again or if you have settled all your debt.  Another reason could be where the is only one long term agreement remaining such as a home loan.  Once all other debts are settled, the consumer should be able to exit from Debt Counselling and pay the bond directly with the credit provider. Before the withdrawal guidelines were implemented, a consumer could simply be removed from debt review by requesting his debt counsellor to issue a 17.4 Form. 

 

This is no longer the case and formal processes must be followed in certain instances in order to be removed from Debt Review. If the Debt Counsellor did issue a 17.2 Form you will be able to be removed from Debt Review without the need to approach an attorney for assistance.

 

 

SEQUESTRATION | LIQUIDATION

 

Our current economic situation in South Africa is in a state of decline to an extent that many consumers are left retrenched or unemployed.  

What happens in such a situation is that a consumer is left without a plan and starts neglecting and faltering on their debt repayments.

Business owners may find that their businesses are not profitable and are unable to repay loans and creditors in time or at all.  

An individual may apply voluntarily to have their estate sequestrated and a legal entity such as a company or close corp may apply to be liquidated.

In both, creditors will receive a percentage of the total debt owed to them.

 

 

ADMINISTRATION ORDERS CANCELLED

 

If you  find that your financial circumstances have changed due to a dramatic increase in your  salary and you are now able to service your original monthly debt obligations you may be able to cancel your Order.  A formal consult with the consumer will establish whether there are merits to their case. You should only consider coming out of Administration if you are able to manage payments comfortably again or if you have settled all your debt. 

Application will have to be made to court in terms of s74Q to cancel your Administration Order.

Contact our offices today for a free assessment.

   
   

 

 

CREDIT BUREAU CLEARANCE

 

If you are in the market and you are trying to access credit , it is important to know exactly what is listed on your credit report.

This can have either a positive or negative effect on your ability to access credit.   As a consumer, it is important to monitor your credit report at least twice a year.

 

At Global, we are able to fully advise and represent consumers in rehabilitating their credit reports.

 

We have in house specialists ready to advise you on your current profile and scoring.

 

 



"Our team of highly skilled professionals are ready to work for you. "

— Global Debt Solutions

 

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