Frequently Asked Questions

Voluntary Redistribution:

  • - Everybody qualifies for Voluntary Redistribution;
    - Anyone who has a cash flow problems and /or who cannot afford the required full installments from their creditors;
    - Blacklisted clients are welcome to join the programme.

  • - It operate as an alternative arrangement affordable to the consumer and acceptable to the creditor;
    - The agent negotiate on behalf of the consumer with the designated creditors to lower the initial installment due by such consumer which would be affordable to the client;
    - You as the consumer have the choice of which accounts the agent should handle;
    - It is not Debt Review or Administration and no court applications or court appearances.

  • - You have more cash in your pocket;
    - You have one reduced installment/repayment for all your accounts;
    - You may save up to between 40% and 60% on your monthly repayments;
    - You will no longer receive harassing phone calls;
    - No legal action – no repossessions of your assets;
    - You have an option to opt out any time.

  • - If you are not blacklisted with the Credit Bureau, you will be protected from being blacklisted;
    - You stay creditworthy, depending on your overall credit record, you might be able to access more credit

  • - If the consumer default on his/her payment, it is not necessarily bad for the consumer as long as the consumer inform the agent of his/her position and make alternative arrangements in order for the agent to correct such default;
    - The consumer should be prepared to pay in arrear payment in order to remedy such default as soon as possible before the creditor(s) take legal steps especially if it is an overdue account which has already been handed over;
    - Should the consumer not inform his/her agent, the agent may cancel the client’s application after the agent has made numerous attempts to make contact with such consumer which will leave the consumer vulnerable to the creditors who may take legal steps against such consumer at any time after such default.

  • - The client’s assets will be safe if the consumer do not default on his/her new adjusted reduced installment;
    - It depends thus on the consumer to protect his/her own interest in order for them to secure their assets by NOT DEFAULTING on payments.

  • - There is no upfront fees payable by the consumer;
    - Fees payable is calculated into the consumers new reduced installment, which will be payable in installments

  • An aftercare fee is necessary in order for the agent to maintain the consumers account and to oversee that all creditors are satisfied monthly and to handle all related queries specific to that consumer.

  • No, the agent will act on your behalf and negotiate a reduced installment on all the consumers’ account of his/her choice.

  • No, all the consumer has to do is to honor his/her payments to all creditors until the account has been settled.

  • The consumer is not listed on the Credit Bureau whilst under this specific programme, thus depending on your credit status at the time the consumer has joined the programme, he/she will still be able to access credit (that is if the consumer is not already listed on the Credit Bureau).

  • - Once a consumers’ account or one specific account is paid up, it is automatically removed from the programme;
    - The client then have the option of applying for a Rescission of Judgment if it was an account that was listed on the Credit Bureau and have his/her name removed.

For your ease of reference DEBT EEZY compiled a Q & A so that the ordinary person can understand the Basics of Debt Counselling and also to ensure Financial Freedom to over-indebted people.