Enelo Debt Services is a licenced Debt Counselling service provider that is registered with the National Credit Regulator. Our main objective is to ensure that we provide debt counselling that results in financial freedom to South Africans who have had enough with debt. Our approach is to provide solutions that are governed and are aligned to the National Credit Act.
Learn moreBeing over indebted can be overwhelming and at Enelo Debt Services we have the right solutions that can give you peace of mind and be able to get your life back on track in no time. Our programme will ensure you have sufficient cash-flow to take care of your family and your needs while paying your debt.
Debt
review is a legal debt solution under National Credit Act targeted at South
African consumers who are over indebted and struggling to manage their
finances.
The process prevents credit providers from taking legal action
against you to reclaim the outstanding balance.
At Enelo Debt Services will craft a tailor-made
repayment plan and arrange with your creditors for the payment of the outstanding
debt.
This is available financial solution designed to simplify multiple debt
repayments and under some circumstances, save the debtor money and improve
their cash flow. We use a program called Debt Review to consolidate debt
effectively and safely.
The National Credit Act endorse this process as a sure
way to fully restore the finances of South Africans who are in a serious
struggle to keep up with their debt obligations.
We will re-arrange your debt obligations to enable you to pay off your debt,
where ultimately you, enjoy a completely restored credit profile. Debt
management tool reworks your multiple debt accounts into one affordable
repayment plan.
A consumer that is overwhelmed by debt will contact us for assistance.
A basic assessment will be performed to get a basic idea of the current debt that a consumer is having and an estimate of how much the consumer will be paying. A credit report will be done upon consumer’s consent.
If the consumers debts are below R20000, the debt counsellor will advise the consumer to approach the creditors to arrange a payment plan. Debt above R20000, the Debt Counselor will proceed with the application.
The Debt Counsellor will explain the process and assist the consumer to complete an application form (Form 16). Married consumer can only do a joint application.
The Debt Counsellor will request all balances from credit providers to perform an over-indebtedness assessment and affordability.
The Debt Counsellor will perform an over-indebtedness assessment by using the current debt commitment for creditors and the consumers living expenses to determine how much the consumer can afford to pay creditors.
The Debt Counsellor will determine if the consumer is over-indebted as per the assessment. If the consumer is not over-indebted, the Debt Counsellor will reject the application and accept if over-indebted.
In an event where the consumer is over-indebted, the Debt Counsellor will inform the National Credit Regulator (NCR) and the consumers creditors.
The Debt Counsellor will send the initial payment proposal to creditors as per what the consumer can afford.
The Debt Counsellor and consumer creditors will engage on negotiating the interest rate, payment amounts and schedule until an agreement is reached.
A court application will be done with to obtain a court order on the agreed repayment amounts, interest rate and term.
Easiest way to manage your projects and tasks.
The Debt Counsellor will monitor the payment allocation and ensure that the consumer gets statements and updates as required.
Upon completion of all payment the Debt Counsellor will issue a clearance certificate and update the NCR. A clearance certificate is still issued if the consumer is still owing home loan (Bond) only.
The consumer enjoys their financial freedom and ensure that they apply for credit responsibly.
Design Quarter (Right by Spaces), Leslie Road, Fourways, Magaliessig, 2191
011 549 5765 (Reception)
087 152 0900 (All Services)
087 152 0900 (WhatsApp)
086 416 4099
info@enelodebtservices.co.za