NCR Certification in terms of Section 25 of the National Credit Act


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Consolidation Finance

The first option and solution for over-indebted consumers, who are not homeowners and or homeowners who do not qualify for further advances on bonds, will be to consolidate their total outstanding debt with consolidation finance that provides for total charge of credit (TCOC- interest, arrear interest, monthly fees and insurance) being less than the consumers average existing TCOC obligation and the consolidation finance installment being less than the existing unaffordable creditors instalments.

This could be done through financial institutions that provide consolidation finance and or banks that provide further advances on bonds, where consumers qualify for it.

After establishing certain qualifying criteria, Accord Debt Solutions CC refer consumers for assistance to ascertain whether they could possibly qualify for consolidation of their total outstanding debt to be repaid with one affordable instalment.

Where consumers are initially unable to qualify for the mentioned consolidation finance, due to unaffordability or any other reasons, Accord Debt Solutions CC could assist with advice on possible procedures to be followed so as to have consumers financial situations changed and or possibly improved to possibly qualify for such mentioned finance in future.

This could possibly be done with our 60% Debt Mediation Product, fix it.

Consolidation finance will cause for qualifying consumers total outstanding legally owed debt being consolidated by one loan, repayable in one affordable instalment.

Should consumers qualify for such consolidation finance, ADS could be appointed to assist with authenticating outstanding balances claimed by creditors whose debt will be consolidated. Illegal claims and debt whereupon no legal claims could be enforced, could be disputed and should not be consolidated.

After having received consumers financial information, as set out in our questionnaire, we will assist to do a total evaluation of consumers financial status and administer the provision of a report advising consumers accordingly.

To be assisted with advice regarding this service and an evaluation report of consumers financial status click on HELP ME and fill in the form.