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NCR DEBT REVIEW WITHDRAWAL GUIDELINES

THE NEW NCR DEBT REVIEW WITHDRAWAL GUIDELINES - 27 MAY 2021

 

The NCR has published a new set of rules and conditions for withdrawal from the Debt Review Process

THE SAD TRUTH ABOUT THE NEW WITHDRAWAL GUIDELINES IS:

ONCE YOU ARE IN DEBT REVIEW 

YOU CAN NEVER WITHDRAW OR BE RELEASED - UNTIL YOU HAVE SETTLED ALL YOUR DEBTS!

CLICK THIS IMAGE TO DOWNLOAD THE NEW NCR DEBT REVIEW WITHDRAWAL GUIDELINES 

 

This document can prove to be too technical and too long, we have extracted essential highlights for easy reading.

Click here to read the summary and highlights - Debt Review Withdrawal Guidelines Summary

 

In the meantime - the one thing remaining to get out of debt review (other than settling your debts) is to investigate and dispute compliance with processes that went into placing you under debt review. 80% of the time there is an element of non-compliance. 

COMPLIANCE INVESTIGATION

Debt Counselling is a voluntary and consensual process which results in the Tribunal or a Magistrate Court re-arranging the consumer's debt obligations.

80 percent of the time there is an element of non-compliance in the process!

  • You can only be placed under debt review when you have personally applied through an NCR accredited Debt Counsellor. 
  • The consumer must apply for debt review by signing and submitting a Form 16 document to authorise the Debt Counsellor to determine over-indebtedness. 
  • The consumer must sign a PDA debit order for distribution of the agreed debt repayment fees. 
  • The debt review matter should be concluded and made an order of the court by either the Tribunal or Magistrate court. 
  • The consumer must be issued a copy of the court order. 
  • The Debt Counsellor must be Known, Contactable, Available and must Responding to your calls/email.  

 If any of the above processes was not executed, then the debt review is unlawful!

 

INTRODUCING DRICA

LET DRICA INVESTIGATE YOUR DEBT REVIEW AND CLEAR THE FLAG WITHIN 7 DAYS

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Who is Drica? 

Drica is an autonomous independent agency that is established to ensure that your debt review process was lawfully conducted and complied with the prescribed NCA debt counselling regulations: VISIT DRICA WEBSITE

How can Drica assist?

CLEARANCE CERTIFICATE - (5 DAYS) INVESTIGATION - (7 DAYS) COURT APPLICATION

Clearance Certificate can be acquired under the following conditions: 

  • All accounts paid - Debt counsellor is missing or deregistered
  •  All accounts are settled in full (except home-loan where applicable)
  •  You are in possession of a court order declaring you no longer over-indebted

 

 

 

 

 

 

 

 

Compliance Investigation of the following: 

  • Did you sign Form 16?  
  • Did you agree on the new instalment (distribution amount)?
  • Did the debt counsellor explain the debt counselling fees?
  • Did you sign PDA (Payment Distribution Agency) debit order authorisation?
  • Did you sign and submit a supporting affidavit for court application?
  • Did you receive a copy of the Court Order? 

If your answer is No to any of the above, the Debt Review Agreement is deemed Unlawful.

 

 

 

 

 

Application to be declared no longer over-indebted

 

Drica can assist with compiling information on your debt review situation through an Assessment Questionnaire; Standard Financial Circumstance Form and Account Status Form. The questionnaire and forms will be used to establish if correct procedures were followed to place you under debt review and to determine whether: 

  • The debt review is lawful or
  • You are eligible for a Clearance Certificate or
  • A Court Application to declare you no longer over-indebted is required.