My Financial Status & Options Available to Me

Answer the below questions honestly to view your financial position, as well as possible solutions that can help ease your financial stress. (View the assessment result at the bottom of this section. Take note that the below is all prior to being placed under debt review.)

Am I over indebted? YES NO
Is the total amount earned monthly enough to cover all your debt?
Is the total amount earned monthly enough to cover all your debt and living expenses?
I can barely cope with paying my debt and living expenses. Leaves no room for error or an emergency.
Have you decreased your living expenses?
I can foresee a financial problem arising due to a medical emergency, my own company not performing, commission earner, petrol and electricity increase, etc.
Can you decrease your living expenses further?
Using credit cards, over drafts to pay existing debts?
Obtain additional loans to service existing debt?
Credit card and overdrafts must be used to get through the monthly living expenses?
Skip monthly installments or when you cannot make full installments?
Creditors call you asking for payments?
Creditors threaten to take legal action?
Creditors send you letter of demands /legal letters / summons?
Assessment

You are over-indebted, seek urgent Debt Counselling help.

You are over-indebted, seek urgent Debt Counselling help.

You are close to being over-indebted, although it may take an emergency or unexpected problem to induce over indebtedness. Seek Debt Counselling help as you may be placed under debt review 6 months in advance if you can foresee a problem arising.

You need to see how you can decrease your living expenses.

You have an over-indebtedness problem arising, seek Debt Counselling help, Business Rescue, Liquidation and/or Sequestration

It is recommended that you see a Debt Counsellor for further advise as you may be close to being over indebted. If No, seek a Debt Counsellor's help urgently.

You are over-indebted and rolling money, seek Debt Counselling help. The longer you roll money, the worse your problem will become.

You are over-indebted and rolling money. Another loan will not solve your problem, it will only delay it. Did you know it will be cheaper to seek Debt Counselling help than to take out a new loan?

You are over-indebted and rolling money. Save yourself money by going to see a Debt Counsellor before it is too late.

You are over-indebted and rolling money, seek Debt Counselling help before you get a bad credit record - it will also save you money in late charges, extra interest and possible legal costs.

If you cannot make the payments, you are over-indebted, seek Debt Counselling help. There is nothing to be ashamed about, many people are in the same position as you.

If you cannot make the payments, you are over-indebted, seek Debt Counselling help. Successful people know how to help themselves. Take the steps to change your life.

You are over-indebted and do not have much time left to resolve matters. Do not ignore these legal notices, they are not going to disappear. Take charge of your life and go see a Debt Counsellor today.


Am I too late to apply for debt review? YES NO
I have received a letter of demand which came as registered mail. Is says Sec 129.
I have recieved a summons, notice of attachment, auction date.
I have no income.
I am a Close Corporation, Sole Proprietor or Proprietary Limited and cannot draw a salary.
Assessment

You may apply for debt review but this account will be excluded from debt review. Urgently seek a Debt Counsellor to determine if you can afford the monthly repayments of the excluded account, if the remaining debt is placed under debt review. If the bond is the excluded debt and you cannot afford the repayments, even if your remaining debt is placed under debt review, it would be best to sell the asset privately and not in the banks quick sell programme. Do not sign any acknowledgement of debt.

You may apply for debt review but this account will be excluded from debt review. If you cannot afford the excluded debt or come up with the necessary outstanding arrear monies, or sell the asset, you need to seriously look at going into sequestration.

You do not qualify for debt review. Seek sequestration help.

Seek sequestration, business rescue or liquidation help.