ADMINISTRATION CANCELLATION ITO S74Q

Do you want to cancel your Administration Order?

Let the industry leaders assist you today.

CLICK HERE or EMAIL: admincancel@globaldebtsolutions.co.za

Three reasons to go with Global Debt Solutions:

THREE REASONS TO GO WITH GLOBAL DEBT SOLUTIONS 

1. Global Debt Solutions are leaders in the field of credit & consumer law. We offer a free assessment to verify whether your administration order warrants a rescission. 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 Cancellation process for Administration Orders and have been assisting consumers all over South Africa; and

3. We offer easy payment options.

MORE INFORMATION ON CANCELLING AN ADMINISTRATION ORDER IN TERMS OF S74

As a consumer you would have been placed under Administration if you were struggling financially.  A Magistrate would have referred you to an Administrator to have your debt restructured so that you had enough left over for living expenses or you may have approached an Administrator directly for assistance.

The problem with Administration Orders is that the Administrators charge a monthly collection fee on 12.5%.  Many of the consumers who wish to cancel have been paying their Administrators for many years and their debts are still at the same balances or have even increased. Debt Review is a better option as you obtain better interest rates, lower fees and you may be placed under review if your representative successfully cancels your administration order first.

A consumer may only apply to be placed under Administration if their debts are less than R50000.

Your Administrator would have made application to court confirming that you were over-indebted and would have obtained a Court Order in your favour which would have granted you legal protection until payment of the final instalment. Once a consumer has settled all debt in full, he/she will be removed from Administration.  

If you  find that your financial circumstances have changed  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.