Why should I apply for Debt Review?WHAT IS IT REALLY ABOUT?

You should consider applying for debt review if:

End of month expenses are bringing you to

tears

You cannot meet ALL your monthly repayments

You pay debt with other DEBT

Creditors are complaining

Your assets are at risk

Section 129 summons.

Very Bad

WORST Case.Warning!

In Trouble!

Danger!

Suffering

Previous slide shows from bad to WORSE. Don’t wait until you have already received a section 129, it might be too late!No one knows your situation better than you do, and if you are feeling the financial pressure, stop waiting for it to get better next month, or the month after that! Debt is a cycle, and it is okay to ask for help from someone who will keep the debt from swallowing you!The worst cases of debt, are the ones who have waited too long. By the time you realize you cannot meet all your monthly obligations, you should already ask for an assessment from a professional to see if you Are over-indebted and can be helped.If you are paying debt, with other debt… This is a red Warning flag and things will only start getting worse if you do not take drastic measures soon.

YOU DO NOT HAVE TO SUFFER!And you do not have to go through this alone!

Millions of people are falling behind on their repayments, and if your food budget is cut because you are paying creditors, Look into the option of Debt Review:

Simple three steps to protect you:When you apply for Debt Review, all your payments are consolidated into one easy payment plan. When we have accepted you as our client we will take your salary amount and deduct all reasonable expenses you provide us with and then calculate how much money you have left for paying your credit providers (the restructured amount);

This is the amount you will pay from month one while we are negotiating with your creditors

By law, no credit provider can institute legal action against you within the first 60 days after being notified that you have been placed under Debt Review. Should you however make short payments towards your Debt Review the credit providers will have the right to cancel the Debt Review and commence legal action against you.In short: You will be fully protected by the National Credit Act from day one, if you do not deviate from your payment plan.

Although you won’t be able to obtain new credit while under debt review, you won’t have any problem when you have completed the process.Your name does not get “blacklisted”, we merely place a flag on your credit profile which will inform credit providers that you have applied for debt review, that your application was successful and that you are therefore over-indebted and should not enter into any new credit agreements.You will receive a clearance certificate once you complete the Debt Review Process and the flag will be removed which will enable you to obtain new credit.

1st Payment = Restructured Fee

2nd Payment = Legal Fee

3rd Payment = Creditors

Your Repayment PlanSaves you money from the first month!

The creditors are very much aware that they do not get paid before DC fees have been paid, that’s why from the minute you sign up, do not pay them, but pay us the reduced instalment instead! This does however NOT come straight from your pocket, but is worked into your DC plan. You do not pay us AND your creditors at the same time!

This means you save money from the very first month!

Let’s say you usually have to pay R5000 per month. After signing up, and your next paydate arrives, you pay *R2500 for your debt review and already you feel the pressure relieved. The creditors no longer get paid directly so immediately, there is room for you to breathe!

*preliminary restructured amount*

WHEN YOU APPLY:

Our Genies will look at your financial circumstances and make a recommendation to the creditors. We propose a repayment plan that they can accept or reject.

As registered debt counsellors, we are allowed to negotiate with your creditors on your behalf for a lower repayment amount. Our Genies use the guidelines provided in the National Credit Act to accomplish this. We use a payment distribution agency to distribute the money you pay every month to your creditors.

The Process starts with an application for Debt Review.

The time of the process

may vary and all depends

on how much debt you

have.

Process is complete when you receive a Clearance certificate

after all debts have been

settled.

HOW and WHY:

Once we have an idea of what you were paying your creditors before,

we will give you a Preliminary Restructured Amount that is subject to change AS we get

feedback from your creditors with your certificates of balance and while we negotiate the amounts

with them. This means that you are NOT allowed to skip any payments.

In this industry we have lots of deadlines, the most important one

being the:Creditor distribution deadline

From day one your application is loaded, we only have a certain time to make sure that all DC fees have been paid before the creditors are

allowed to receive money. Creditors DO have the right to terminate your debt review if you do not pay. This

is very important to remember. Always speak to us!

As we are not a government funded institution, but a private company sanctioned and regulated by the

National Credit Regulator, we have to charge a fee for our services

rendered. The creditors are very much aware that they do not get paid before DC

fees have been paid, that’s why from the minute you sign up, do not pay them, but pay us the reduced

instalment instead.

**This does however NOT come straight from your pocket, but is worked into your DC plan. You do not pay us AND your creditors at the same time.This means you save money from the very first month!**

Why not start the road to financial freedom today? What is holding you back?

Often, the first step is the scariest. Going into unknown situations can scare you, we know! So here are a few Debt Review Myths debunked:

Myth 1: Your Debt balances will increase

TRUTH: As long as you follow the repayment plan, your balances will DECREASE. Every payment you make after the fees are covered goes to lower your creditor balances.A lower monthly repayment might mean a slightly extended term, but we aim to repay all short term debt in 60 months or less.

Myth 2: Interest rates and fees are fixed

TRUTH: Your budget will determine the interest rates and fees reductions. These reductions assist to reduce the repayment period. Saving you money in some cases where interest rates might even be reduced to 0%

Myth 3: I will be trapped in debt review forever.

TRUTH: Once your Short term debts have been settled, we can issue you a clearance certificate and you will not be stuck under debt review forever.

A Restructured Fee is equal to YOUR individual financial assessment. This is why it is very important to complete an application form with us much detail as possible, and send us any documentation that could speed things along (eg creditor statements) There is a lot of paperwork involved, and we do call on our clients to be responsible and pro-active with their debt review and Help the Genie to Help you. Every single bit of paper we ask is of great importance to the success of your file. The success of your debt review is equal to the level of cooperation we receive from you.

Send Application to:genie@debt-genie.co.za