Cancellation Immediate Request

CANCELLATION REQUEST.

The NDA once called me and told me about how they can reduce my monthly payments and lower my interest rate . So they kept calling and explaining everyday how it works. I will like to say i was not exactly drowning in debts but couldn't afford that much so i would ask the bank to decrease my monthly payments that worked for me till i made the wrong choice of taking out the contract with debt advisors.

So i took the debt counselling membership which it did came right until i got to see that my credit on my accounts are not going anywhere and their administration fee its a lot. So i sent my cancellation of my membership two months back and they only responded to me yesterday which I'm on suspension @ work and i wanted immediate cancellation. To my surprise see below what they sent me with email, which they never mentioned when I took out the membership please people beware of such things:

Good day Mr Mogojoe Kindly be advised that your cancellation request may not be processed at this point as you have already been declared over-indebted. This is in line with the Debt Review Withdrawal Guidelines issued by the National Credit Regulator.

Please be advised that National Debt Advisors will continue to debit your account on a monthly basis as agreed in order to pay your creditors as per the proposed payment plan. Should you miss any payment, you may be deemed not to be complying with the debt counsellor and the debt counsellor may therefore suspend provision of debt review services.

Once debt review services are suspended, your creditors may enforce your credit agreements through legal action, which may ultimately result in you being summoned to court, a judgement being listed on your credit report and a garnishee order being issued.

Kindly be advised that once you do miss 3 consecutive payments we are allowed to suspend our services. Direct payments and arrangements will have to be made to your creditors. Once we do issue an 17.w that you cannot apply for any credit or loans and we will remain the Debt Counsellor on record.

You can also appoint yourself an attorney to access your financial status and obtain a declaration court order from the magistrate to declare you no longer over-indebted. Paid up letters needs to be obtained by your creditors once you pay outside of Debt Review in order to receive a clearance certificate.

Your cooperation will be highly appreciated in order to enable us to assist you to become debt free as soon as possible.

NDA Payments Administrator – Melezwa Mfundisi

Please people never ever take such policies without knowing the after effects of such things. I still want immediate termination as it's been two months not paying anything. I will rather arrange with my creditors. Rather be harassed than paying to go backward. Kind Regards, Tshepiso Mogojoe