Costs of debt coun­selling

Pretoria News Weekend - - OPINION -

You can ex­pect to pay:

A non-re­fund­able ap­pli­ca­tion and ad­min­is­tra­tion fee (R350 plus VAT);

As­sess­ment and re­struc­tur­ing fees to a max­i­mum of R9500 plus VAT for an in­di­vid­ual ap­pli­ca­tion, de­pend­ing on the size of your monthly re­pay­ments;

Le­gal fees for ob­tain­ing the court order; and

On­go­ing monthly fees of up to 8% of your re­pay­ments, to a max­i­mum of R950 plus VAT.

Matthys Pot­gi­eter says it is a myth that you will be ex­pected to pay an up­front fee. He says alarm bells should ring if your debt coun­sel­lor asks for money up­front. “There are no up­front fees, be­cause the fees form part of your monthly re­pay­ment plan,” he says.

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