Debt Review Forms
All the Debt Review Forms
There are several standard forms used during the debt review process in South Africa.
Let’s look at some of them so that you know what people are talking about when you are discussing debt review.
Form 16
When you apply for help with a Debt Counsellor, they will ask you to fill in all your information (income, expenses, debts) on this form.
It is an official way of applying for help and officially starts the debt review process if you sign it.
Form 17.1
This form lets your Credit Providers know that you have officially applied for debt review and the Debt Counsellor needs information to figure out if you really need help.
Form 17.2
This form lets credit providers know whether the application for debt review has been successful or not. It tells credit providers whether you need debt review or just needed to make changes to your budget.
Form 17.3
This unofficial industry form is used if a consumer in debt review realises that they are going to have a problem making their full normal debt review repayment in the future.
It is sent to credit providers to ask nicely if they want to help by accepting a reduced or postponed repayment. Let’s hope you never need this form.
Form 19
This form is also known as a clearance certificate.
It shows that all our debts have been paid off and you no longer need debt review or debt restructuring. This is the finish line of debt review.
This form is sent to credit providers and the credit bureaus so they know you are finished debt review.
