Pieter asks: I went under debt review with the help of Gallant Consulting. I ran into further trouble and did not make repayments for three months.
When I wanted to make arrangements I discovered the company had vanished. I have got a job now and I want to get out of debt. The amount I owe FNB has been climbing and they say there is a court ruling but I have never seen the evidence. What can I do?
Maya replies: Unfortunately I have heard so many stories of fly-by-night debt counsellors. It’s a good idea to check with the Debt Counsellors Association of South Africa and get the name of a reputable firm.
You need to get hold of FNB urgently and get a better picture of your current position, especially in light of the court ruling. When you stop paying under debt review all your protection falls away and legal action can be implemented.
Explain to FNB that you were unaware of this development because your debt counsellor disappeared. Explainyou now have a new job and are in a position to settle your debts with the help of a new debt counsellor — if they agree to it.
You may find luck on your side as new rules have been introduced which will benefit you.
In addition, contact the National Debt Mediation Association NDMA on 0861 11 6362, which will be able to assist you if you are not able to deal with the right person at FNB.
You need to take control and responsibility of your finances today, right now. If you are able to benefit from debt review a second time as well as benefit from the new rules which give you better protection, then make every effort to pay off your debts and start a new life. If you default again it is unlikely you will ever be able to access credit again.
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