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Debt Solutions
(Debt Mediation Program)
It is very
important to understand that the procedure that is followed has nothing to do with Debt Review. The client
will under no circumstances be placed under Debt Counseling/Administration, but
on a distribution program which will be arranged by lawyers Von Ludwig
Attorneys. This is an informal distribution program and if the Creditors accept
the negotiated monthly repayments no court order will be applied for.
This is what Eagle
Mediation will do for you……….
negotiate
with the your credit providers lower monthly debt repayments
save
you money
solve
your debt problems
provide
an financial education and training program on “How to make it to the end of
the month"
assist
you after all your creditors have been paid with improving your ITC record
The client will ……….
not be listed on
ITC
only pay one
payment each month
improve his/her monthly
Cash Flow
know exactly how
much is available to spend each month
not be harassed by
Creditors each months because of these negotiations done by Von Ludwig
Attorneys
focus and
concentrate on other things in life
have complete peace
of mind
The procedure is as
follow:
1. An
application form needs to be completed and handed in with supporting documents.
2. Thereafter
a “Consent to Mediate” (final contract) is to be signed.
3. After
we receive the signed Consent, we will issue the client a letter from the
attorney stating that you are under mediation.
4. This
Letter is used to stop all your debit orders towards your creditors listed on
the Consent to Mediate. (If there are problems cancelling any debit orders it
is advisable to open a new bank account.)
5. Only
one payment is made monthly via debit
order and this is towards the Trust account of Von Ludwig Attorneys who will
distribute monthly payments to your creditors listed on the Consent to Mediate Contract.
6. It
is the client’s responsibility to ensure that no further debit orders
(payments) goes directly to the creditors as this will cause a duplication of
payments. We have no control over the client’s
bank account and this is why it is the client’s responsibility.
7. Negotiations
with creditors start 7 working days after receipt of client’s first payment.
8. Negotiations
take up to 60 days to be finalized.
9. Training
material is dispatched 7 working days after receipt of 2nd payment.
(This includes a 6 hour DVD to be watched on your own. The title is “How do I make it to the end of
the month”.
10. If
any of your creditors harass you after signing up with the Debt Mediation
Program, the client is to refer them directly to Eagle Mediation. After the first 3 months you will have no
creditors contacting you.
Please contact us for further information.
Consultant: Susan Fontini
Email: susan@badcredithomeloans.co.za
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