Your Payment Figure Might Change A Little
Your Debt Review Repayment
When you begin debt review, your Debt Counsellor will calculate a fair and reasonable proposal to be sent to your credit providers.
They will tell you this monthly repayment figure. You will probably begin paying this amount right away.
You will then probably begin paying this amount via one of the 4 NCR registered payment distribution agents (PDAs), namely CollectNet, DC Partner PDA, Hyphen PDA or iPDA.
Over the next little while you will work with the Debt Counsellor and an attorney to prepare court papers about your debt review matter. You will be sent forms to sign and even an affidavit to sign and have commissioned. These documents then are sent to court to be turned into a court order to protect your assets.
It is important to note that your final repayment figure could be slightly different based on what happens at court.
Most of the time the figures are very similar but based on what your credit providers say and what the court rules it could shift a little.
This is totally normal.
You can also review your payment from time to time and see if you can make adjustments. Many Debt Counsellors ask you to do this annually. By looking over your current adjusted income and spending you may find ways to finish up your debt review faster than originally thought.
