Do I pay the lowered installment myself to my creditors?


  • NO, you just pay a lump sum (affordability) A stop order/debit order to our Payment Distribution Agency (PDA)


So how much do I get charged?


  • When you have applied for Debt Counseling, all your creditors are sent a Form 17.1 which serves as a notification of your intention to pay them via Debt review. The restructuring process takes 60 working days, a total of 3 months. In this period the first payment of affordability covers your Debt Counseling Fees, the second payment goes towards your legal fees, and third month goes towards your creditors and a 5% aftercare fee is applicable, from that affordability.


  • For example if your affordability is R1,200.00
  • First Payment: R1,200.00 Debt Counseling Fees
  • Second Payment:R1,200.00 Legal Fees
  • Third Payment: R1,200.00 creditors are being paid from this month onwards, every month.


  • From the 3rd payment onwards only 5% of your installment goes to the Debt Counsellor as after care fees and it changes to 3% after 2 years.


Is this an Administration Order?


  • The process of Debt Counseling obtains you a DEBT REVIEW ORDER (DC is not an order) and not an ADMINISTRATION ORDER, the two process' are vastly different. Debt Counseling is regulated by the National Credit Regulator and Administration process is regulated by the Administrators themselves. Your payment distributions are done by a PDA in Debt Counseling and they are done on a monthly basis. With Administration distributions are done by the administrators themselves and are only done quarterly per annum.


Does debt counselling cover all your debts?


  • We deal with all your debts (bond, car finance, credit card, store cards, personal loans, etc.), whilst making provisions for you to maintain your household bills etc.


Is this a Loan?


  • No we do not lend you money. This is a payment plan allowing you to repay your debts back at a rate you can afford.


Can I apply for credit or still use my credit cards etc., whilst on a debt plan?


  • No. While you under formal debt counselling you will not be able to make further credit


What happens once I have settled all my debts under Debt Counselling?


  •  You receive a Clearance Certificate which means your name gets cleared with your creditors as well as credit bureau.



@Copyright 2016, Imalisave - By Parrot Media