Debt Assist: Overview

Debt Assist
Debt Assist
Debt doesn’t have to be forever. We’re here to offer you support and knowledge to get you back on track with your finances

When it comes to debt, you’re not alone. According to a report issued by the World Bank, South Africans are one of the biggest borrowers in the world. The truth is, most people are currently in debt. The important thing is, we’ll help you get your financial freedom back.

How can Debt Assist help?

  • Our Debt Assist department is operated by professionals who include registered debt counsellors, attorneys and experienced negotiators
  • We guarantee confidentiality
  • If you do not wish to be placed under debt review, we can negotiate payment arrangements on your behalf and assist by asking for extensions to avoid repossession of your assets or assess if sequestration may be the best option to relieve your financial stress
  • We offer you access to unlimited advice, from budgeting to taking out loans
  • We offer protection from being harassed and pressured by credit providers and debt collectors.
  • We’ll help you restore and improve your credit record profile

You will pay what you can afford and maintain a dignified lifestyle

With Solace, you and your family have access to so much more benefits

Debt Advice

The importance of seeking debt advice: Seeking debt advice is important, such as the benefits of getting professional advice and how it can help you avoid making costly mistakes when trying to manage your debts.

Common causes of debt and how to avoid them: Such as the common causes of debt, overspending, job loss, illness, and unexpected expenses. We provide tips on how to avoid them or minimize their impact.

Tips for managing your debts: Top tips and strategies for managing your debts, such as prioritizing your debts, creating a budget, negotiating with creditors, and seeking professional help when needed.

How to deal with debt collectors: We help you withyour rights as a borrower when dealing with debt collectors, such as the fair debt collection practices, and provide tips on how to handle debt collectors professionally and assertively.

Debt consolidation options: We discuss the different debt consolidation options available, such as debt consolidation loans, balance transfers, and debt management plans, and provide pros and cons for each option.

Credit Report

Understanding your credit report and score: We explain what a credit report is and how it affects your credit score, as well as how to access your credit report and score.

How to check your credit report for errors: We discuss common errors found on credit reports, such as incorrect personal information or inaccurate account information, and provide tips on how to dispute these errors with credit bureaus.

Tips for improving your credit score: We help provide actionable tips and strategies for improving your credit score, such as paying bills on time, reducing credit card balances, and disputing errors on your credit report.

The impact of credit reports on borrowing and lending: We help you with how lenders use credit reports and scores to determine whether to approve your application for credit, and how a poor credit score can affect your ability to borrow money.

Alternative Dispute Resolution (ADR)

What is ADR? We explain what ADR is, including its benefits, and how it can be used to resolve disputes related to debt.

Types of ADR (mediation, arbitration, negotiation): Discuss the different types of ADR, including mediation, arbitration, and negotiation, and provide examples of when each type may be appropriate.

The advantages and disadvantages of ADR: Discuss the pros and cons of ADR compared to traditional legal proceedings, including its cost, speed, and flexibility.

How ADR can help resolve debt disputes: Including resolving disputes quickly and efficiently, avoiding costly legal fees, and reaching mutually beneficial solutions.

Garnishees

What is a garnishee order? We can help explain what a garnishee order is and how it works, including how it affects your income and your ability to pay your bills.

How to respond to a garnishee order: We help provide actionable steps on how to respond to a garnishee order, such as seeking legal advice, filing a notice of opposition, or negotiating a payment plan with the creditor.

The legal rights and responsibilities of the debtor and the creditor: Our lawyers help discuss the legal rights and responsibilities of both the debtor and the creditor during a garnishee process.

Tips for avoiding garnishee orders: WepProvide actionable tips and strategies for avoiding garnishee orders, such as managing your debts responsibly, seeking professional advice when needed, and communicating with creditors to work out payment plans.

Reposessions

Understanding repossession laws and regulations: Our lawyers help explain the legal process for repossession, including the borrower's rights and the creditor's responsibilities.

How to prevent repossession: We provide actionable tips and strategies for preventing repossession, such as communicating with creditors,

We care about our members and want to give you a guiding hand wherever the path of life leads you. For this reason, Debt Assist is included in your Solace Core offering.

Call 0860 765 223 or WhatsApp +27 (76) 412 9990 for further assistance.

Sometimes, members get into debt for good reasons – like giving their kids the education they deserve. We understand that not all debt is a result of irresponsible spending. Our debt advisors can help you find a way to manage your debt at a rate that is manageable for you.

Testimonial2
Legal& Tax helped my husband and I keep our dream home without getting into more debt

My husband lost his job. I thought it would be a good idea to get a credit card to pay for our monthly expenses. Instead my Debt Advisor showed us how to restructure our finances. We learnt how to cut down on our expenses so that we could keep our house and pay for our groceries, until my husband found a new job.

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Testimonial2
Lindi, 36 | Restaurant Owner | Port Elizabeth*
Lindi, 36
Restaurant Owner
Port Elizabeth*
With Solace you're not alone

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