Accord Debt Solutions CC JHB branch is registered to assist debtors (Consumers) with, debt re-structuring, conciliation, personal financial management and secretarial services, where consumers were over committed with debt repayments, to the extent that they were unable to pay towards their day to day and or their dependants living expenses. The National Credit Act provide for Consolidation financ
e and emergency loans as the only finance available to over indebted consumers. Seeing as consolidation finance could allow for arrear instalments being brought up to date, ADS concentrated on debt consolidation at rates less than consumers existing average contractual rates and secondly administering processes that could possibly allow for future consolidation finance and or deriving at a plan to bring arrear instalments up to date. It was found that consolidation finance would only be effective where future consolidated loans installments are affordable, consolidation interest is less than loans consolidated interest and correct settlement balances are obtained prior to consolidating outstanding balances. ADS electronic and management systems provide for the re structuring of debt and the correct calculation of outstanding balances in terms of credit agreements and or judgments and also provide for the management of emoluments attachment order salary deductions, which system ADS managing member claims to hold a copy right over. To sum up the services provided
With effect from June 2007 ADS provide for alternative dispute resolution Since inception of the National Credit Act, ADS provide services to establish the correct outstanding balances claimed by creditors and or their representatives, with the intention of either having consumers total debt consolidated, develop and agree on a plan to bring arrear payments up to date or to obtain housing finance where such finance is affordable and available. This done where it is found that consumers financial situation would improve after having debts consolidated and or it is found that consumers could afford housing finance. Consumers were further assisted to ascertain the correctness of balances claimed and or the authenticity of agreements where upon claims were based pertaining to creditors claims and or claims based in terms of court orders. Over time ADS developed electronic administrative systems that provide for efficient service delivery in accordance with agreements entered into. Prior to June 2007 it was found that many creditors and or creditors representatives claimed balances in excess of what was provided for in terms of agreements entered into and or emoluments attachment order claims.
