Credit Industry 2013

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• Credit Industry 2013

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The Credit Industry

• 19 Million Credit Active Consumers
• 50 have some kind of impairment
• 11 of Debt is Unsecured
• 50 to 80 of Disposable income goes to Debt
• 10 to 12 times Gross Salary in Unsecured Debt
• Households earning between R6000 to R40000

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Comparing the Options
Debt Review Section 86 of the National Credit Act of 2005 Administration Section 74 of the Magistrate's court act of 1944
Voluntary Surrender/ Sequestration Debt Consolidation
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Process
Send out 17.1 Creditor replies with a
COB Proposal Acceptance letters Magistrates Court
or National Consumer Tribunal
One payment
Creditor 1
Trust Account NPDA HYPHEN DC Partner
Creditor 2
Creditor 3
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DCRS/NMDA Automated Debt Review

• Unsecured debt into categories - Lowers interest
  and stretches out the period to maximum of 5
  years
• Car 1.5 x original period with maximum of 84
  months from inception
• House back to 240 months with a max of 360 from
  date of inception
• Strips out Monthly fees
• Cascading

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Choosing the right Debt Counsellor

• Registered with NCR - Eugene Cilliers NCRDC
  1636
• Makes use of Payment Distribution Agency
• Does not take fees from you directly
• Taylor made financial solution Shows you
  alternatives
• Shows you which creditors have agreed to
  proposals and gives you a copy of the proposal
• Provides you with a distribution statements each
  month

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Helpline

• Eugene Cilliers
• 0861 626 859
• www.payplansolutions.co.za
• eugene_at_payplansolutions.co.za