increase in my monthly contribution was hasty
<p>I joined debtsafe with expectations of having somewhat of financial freedom due to the fact that I was struggling paying off my debts, the journey has been quite bearable but at the end I was offered peace of mind from all my financial dilemmas. The best part was me knowing that I will not only have peace of mind but I have a dedicated team that will be assisting me throughout my financial journey in saying so I was assured that my payments with my creditors will be reduced to an amount where at the end of the day I’ll still have funds to keep me going. I received a call from Nicola Botha to state that my monthly contribution will be increased by more than R600 from the intial monthly contribution due to the fact that 2 of the creditors that I owe are disputing the minimum arranged payment's. I felt like I was being pushed into a corner and had no choice but to agree to the new introduced monthly contribution, I had to go back to my budget and calculate how much I will have left after all my monthly expenses and sadly it seems I’m going back to the same financial state I was in before I took up a contract agreement with debtsafe.Expenses I have excluded from the application form like medical aid that i currently took out,gym membership and 1 account amount to R3159 from the application looking at my nett pay surely you can see i wont manage.</p> <p> </p> <p>I can’t comply with the new proposed payment arrangement because this would mean I will have nothing to live off, I’m expecting in a few months and my main worry is how am I going to take care of my baby when almost all my salary goes towards paying off my creditors. This is really getting more complicated than I could have imagined. I will have to enquire with other debt counsellors to see if I can’t get a more affordable repayment plan to all my creditors.</p>
Please take note that your original instalments were R4 099.54 per month. We have managed to reduce your instalments to R2 450.01 per month. Your new instalment is 59% of the original instalment.
You app**** for debt review because you had difficulty in meeting your financial credit obligations. We are here for the people we can help, we do what we do because we have a real passion for people in need and find it extremely rewarding to guide those in financial dire straits towards a workable solution.
I want to bring you up to speed with the statutory requirements in our process. The process as initially envisaged by the Legislator and the NCR changed dramatically during the last five years due to various court decisions. The latest and most influential decision was handed down in the Collet case in July 2011. In this case it was emphasized that the most important requirement in the process is that the final solution need to be reasonable to all parties involved. The court also clearly stated that the creditor has the right to terminate the debt review if they feel that this requirement has not been met.
Your Relationship Manager has to keep you informed about every aspect of your debt review. As per the voice recording she notified you about the counter offers and also the consequences of termination should the requirement not be met. You were not forced to increase your monthly instalment and you agreed to accommodate the counter offers immediately without any hesitation.
Please understand that we do not assist with any luxury items as the courts will not allow this. It is also unfair towards creditors. Debt review was implemented to relieve the financial strain monthly by reducing the monthly instalments to your creditors thereby giving you more money for essential living expenses.
I trust you will find it in order and please do not hesitate to contact your Relationship Manager to work towards a better and workable solution.
Kind regards
Heidi Bekker
Quality Assurance & Compliance Officer
Please take note that your original instalments were R4 099.54 per month. We have managed to reduce your instalments to R2 450.01 per month. Your new instalment is 59% of the original instalment.
You app**** for debt review because you had difficulty in meeting your financial credit obligations. We are here for the people we can help, we do what we do because we have a real passion for people in need and find it extremely rewarding to guide those in financial dire straits towards a workable solution.
I want to bring you up to speed with the statutory requirements in our process. The process as initially envisaged by the Legislator and the NCR changed dramatically during the last five years due to various court decisions. The latest and most influential decision was handed down in the Collet case in July 2011. In this case it was emphasized that the most important requirement in the process is that the final solution need to be reasonable to all parties involved. The court also clearly stated that the creditor has the right to terminate the debt review if they feel that this requirement has not been met.
Your Relationship Manager has to keep you informed about every aspect of your debt review. As per the voice recording she notified you about the counter offers and also the consequences of termination should the requirement not be met. You were not forced to increase your monthly instalment and you agreed to accommodate the counter offers immediately without any hesitation.
Please understand that we do not assist with any luxury items as the courts will not allow this. It is also unfair towards creditors. Debt review was implemented to relieve the financial strain monthly by reducing the monthly instalments to your creditors thereby giving you more money for essential living expenses.
I trust you will find it in order and please do not hesitate to contact your Relationship Manager to work towards a better and workable solution.
Kind regards
Heidi Bekker
Quality Assurance & Compliance Officer
ML Gwebu
ID: *** (Our ref)
Residential address;
3149 Hlatswayo street
Orlando East
1804
Employer Physical address;
19 Oxford street
Durbanville
7550
Good day Ms. Gwebu
As per your telephonic conversation with Nicola, the matter was addressed and is now finalised..
Please understand that debt review is a negotiations process and the creditors have the right to participate by sending a counter offer should they not accept the offer made. The reason for receiving counter offers were because your original offer did not provide for the monthly interest We also negotiated a reduced interest rate.
Please take note that your application was already referred to our Attorneys and the counter offers were received afterwards. Therefore the application still refers back to the original payment plan.
I trust you will find it in order.
Kind regards
Heidi Bekker
Quality Assurance & Compliance Officer
ML Gwebu
ID: *** (Our ref)
Residential address;
3149 Hlatswayo street
Orlando East
1804
Employer Physical address;
19 Oxford street
Durbanville
7550
Good day Ms. Gwebu
As per your telephonic conversation with Nicola, the matter was addressed and is now finalised..
Please understand that debt review is a negotiations process and the creditors have the right to participate by sending a counter offer should they not accept the offer made. The reason for receiving counter offers were because your original offer did not provide for the monthly interest We also negotiated a reduced interest rate.
Please take note that your application was already referred to our Attorneys and the counter offers were received afterwards. Therefore the application still refers back to the original payment plan.
I trust you will find it in order.
Kind regards
Heidi Bekker
Quality Assurance & Compliance Officer