Alternative Dispute Resolution (ADR)
Typically denotes a wide range of dispute resolution processes and techniques that parties can use to settle disputes, with the help of a third party. They are used for disagreeing parties who cannot come to an agreement short of litigation.
In terms of the National Credit Act 34 of 2005, an alternative dispute resolution agent “means a person providing services to assist in the resolution of consumer credit disputes through conciliation, mediation or arbitration.”
Conciliation is a process that is voluntarily entered into by the disputing parties,usually assisted by a neutral third party, to reach “out of court settlement”
Arbitration is similar to court procedure and may be associated with a formal trial.
Mediation is a decision-making process, in which parties are assisted by a third person (the mediator) to reach a decision to which each of them can live with.
The purposes of mediation are to:-
Debt review is a mechanism to alleviate over-indebtedness
Mediation is a decision-making process in which a consumer and a credit provider are assisted by a third party to reach a resolution. The consumer might not be over-indebted, but have a dispute with a credit provider on other credit agreements.
Modes of dispute settlement
The consumer may refer the complaint to the National Credit Regulator in terms of S136 of the NCA
Modes of debt enforcement
Our company is in operation since 2013, We have many years of experience in this industry and ERASE DEBT SA ensures that OUR CLIENTS ARE WELL TAKEN CARE OF, We correspond with you every step of the way in the stipulated time frame given to you in the beginning of the process, ERASE DEBT SA also ensures that once you do sign up with our company, We will do everything in our power to get you to become credit worthy and able to start taking new credit again, Even buying your dream house or Dream Car as well.
We will draw up a 6-step plan to ensure that your negative listings are removed from your profile and help you with step-by-step approach in ensuring that the credit score picks up so you are free to go back into the credit market.
The process time duration is different for every client of ERASE DEBT SA, however we always do our best to ensure that the process is done in the quickest possible time frame possible
REHABILITATE FOUR YEARS OR TEN YEARS OR SOONER AFTER SEQUESTRATION. You can apply to Court for rehabilitation FOUR years after date of sequestration. You can also wait for ten years because then you are automatically rehabilitated, and you do not have to approach a Court.
There is no need for you to go to court. ERASE DEBT SA have attorneys on our panel to attend to the entire legal process on your behalf
The answer is YES and NO. This will differ from case to case, ERASE DEBT SA will only be able to give you an answer once we have done the necessary assessments, once we have checked the status of your Debt Review flag then WE WOULD BE ABLE TO give you the correct steps to be taken to remove Debt Review from your profile
ERASE DEBT SA will assist with dropping the monthly instalments between 30% to 60% of what you were initially paying, saving you thousands of Rands monthly, also including arrears onto the Debt Review process if no legal action has been taken on the accounts before joining ERASE DEBT SA, you will be able to breath because you will have additional moneys for your living expenses such as school fees and groceries, etc
A proudly South African Financial Services Provider
Helping those in need, when the stress of rising debts simply becomes too nuch.
At ERASE DEBT SA its all about you and making your life easier. We are a one Credit solution provider . All ERASE DEBT SA clients enjoy the benefit of using our powerful business and home tools.
All ERASE DEBT SA members enjoy fast and professional service , our contact centre is fully staffed and ready to assist at all times. Once you become a member with ERASE DEBT SA you will enjoy exceptional services with aim of customer excellence across all products.
