Contact a LDS consultant who will explain the process and costs of debt management and send you the application form with a list of the documents we require for the process.
We will notify all your credit providers,
the NCR and the credit bureaus of your
successful application for debt review.
Issue a Form 17.1 to inform creditors that
you are under debt review and request a
certificate of balance for your account.
Once all the relevant financial information
has been provided we will issue your
creditors a Form 17.2 to confirm the clients
over-indebtedness and inform creditors and
credit bureaus via the NCR Debt Help
LDS will set each client up with a Payment
Distribution Agency (PDA) who will
distribute the allocated payments to each
LDS will forward each credit provider with a
detailed proposal outlining your agreed
budget, the number of creditors included and
a repayment plan for each credit provider.
The Credit Providers may accept or decline
the proposals and if all do, LDS will obtain
a consent order which will then be forwarded
to all the credit providers. If one or more
of the Credit Providers does not accept the
proposed repayment plan, LDS will submit the
application to high court for the magistrate
to make a final decision.
You are required to make the agreed monthly
payment each month to the Payment
Distribution Agency (PDA) for the duration
of the debt review.
LDS will provide annual aftercare for each
of our clients , to establish whether or not
their circumstances have changed
Once all your debt is repaid, LDS will issue
you with a Clearance Certificate (Form19)
which we will send to all your credit
providers, the NCR and the credit bureaus.
Within 5 business days you credit record
will be clear.