Debt Review

We will conduct an in depth debt analysis to decipher your state of overindebtedness, we will then be well positioned to provide you with a draft proposal to show you how we are able to provide you with the much needed debt relief to your specific financial circumstances. You will pay one affordable monthly payment towards your existing debt obligations. We will attend to negotiate reduced repayments directly with your creditors on your behalf.

Budget Drafting

We at Debt-Rite understand how debt affects your ability to maintain your monthly living expenses, we will work closely with you to draft a detailed monthly budget to cover all essential living expenses such as; groceries, water and lights, rent, petrol, insurances etc.

Rescission of Admin Orders

Should you be under Administration we are able to assist you with rescinding your Admin Order, whether the reason be to apply for debt review or simply just to clear your credit profile of any adverse or default data.

Sequestration

Sequestration is the last resort, and is defined by the surrender of an individuals estate (financial affairs) to the Court under the governance of the Insolvency Act. There are two types of sequestration; compulsory whereby your creditors bring the application for sequestration and voluntary whereby you bring the application on your own accord.

What is debt review?

Debt Review is a process based on the NCA (National Credit Act) whereby NCR (National Credit Regulator) registered and accredited Debt Counsellors are appointed to assist overindebted consumers by restructuring their monthly debt obligations.

This is done by means of reducing the monthly repayments and extending the repayment terms of the respective debt obligations, in certain severe cases reduced interest rates are negotiated with the creditors to allow for reasonable repayment terms, this process is either conducted formally through the courts or informally via a consent order, the aforementioned is however not as frequent as one would expect.

The process is therefore almost always referred to court for formal restructuring to ensure full compliance by all parties involved.

We at Debt-Rite specialize in this field and will guide you through the entire process from beginning to end. Simply complete the contact form on your right and we will contact you within the same day to begin the debt relief process.

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How Debt Review Works

Step 1

Contact us on 0861 463328 or complete the free call back enquiry form and we will contact you.

Step 2

After receiving your enquiry we shall conduct the debt assessment to decipher your state of overindebtedness, the assessment is conducted free of charge and is without any obligation to you. Once the assessment has been completed we will provide you with a detailed draft proposal to show how we are able to provide you with the much needed debt relief to remedy your financial woes.

Step 3

We will contact your creditors to advise them of your debt review application along with a request for updated balances on all of your accounts. Thereafter we will begin the negotiation process by sending your creditors a detailed proposal based on your current affordability and financial means.

Step 4

After the negotiations are completed we will refer your matter to the respective court to obtain a formal debt re-arrangement order, once the matter has been heard by the court and debt re-arrangement order granted we will forward same to all of your creditors along with a request for confirmation that your accounts have now been restructured as per the court order.

Step 5

We will now provide you with an After Care service whereby we are available to assist you with any queries or amendments to your debt review repayment plan going forward, this service is available to you throughout the time that you are under debt review.