Debt Administration is a legal process that provides a structured, court-approved way for over-indebted individuals to manage their debts. It involves the appointment of an administrator who will negotiate reduced payments with your creditors. This process is designed to protect consumers from legal action by credit providers while they pay off their debts in a manageable way.
After acquiring HelpU Debt Counsellors in 2012, Mrs. Driskel and her team have been dedicated to offering comprehensive solutions to over-indebted individuals and businesses. They are experts in negotiating with creditors and can set up a debt administration plan that suits your financial situation, allowing you to regain control of your finances without the constant stress of dealing with creditors.
The process begins with an initial consultation and assessment of your financial situation. If Debt Administration is the right solution for you, HelpU Debt Counsellors will draft a repayment plan that is tailored to your income and expenses. This plan is then presented to the court, and once approved, your creditors are legally bound by this plan.
While both Debt Administration and Debt Counselling are aimed at helping over-indebted individuals, they are distinct processes. Debt Counselling is a more flexible process and doesn’t involve the courts unless necessary. Debt Administration, on the other hand, is a legal process that involves the courts from the start. HelpU Debt Counsellors can guide you to choose the best option based on your unique circumstances.
In addition to Debt Administration, HelpU Debt Counsellors offer Sequestration and Business Rescue services. These additional services provide a full spectrum of solutions for over-indebted individuals and businesses, ensuring that HelpU Debt Counsellors can offer the most appropriate solution for each client’s unique situation.
Since its acquisition in 2012, the business has grown from six employees to fifteen, with new structures being established to handle new challenges. Their advertising reach has increased substantially, enabling them to open new offices in Botshabelo, Pretoria, and East London.
Nestled in the heart of Westdene, a charming suburb of Bloemfontein, the main office of HelpU Debt Counsellors is easily accessible. Located at 41 Kellner St, this office is strategically placed to serve the residents of Bloemfontein and surrounding areas. Westdene is known for its tranquil environment, making it a perfect location for individuals seeking help with their financial situation to find solace and professional assistance.
