Operating out of their offices in Cape Town, Cyberfinance offers a range of debt counselling services to individuals struggling with their debt repayments. Originally started as a callcentre, the company has now moved online and is one of SA’s longest established debt counselling firms, helping clients with debt review processes such as Debt Review, Sequestration and Debt Consolidation loans.
How can CyberFinance Debt Review help me?
Being over-indebted causes substantial financial and emotional stress and missing out on loan payments is a slippery slope that can quickly lead to financial hardship, as debts mount up and interest payments compound. However, in many cases a structured review of all your outstanding debt can help you put together a detailed debt repayment plan that will in the short term help you with lower monthly repayments and help you reduce the debt where it is most costly.
This will help you reduce your monthly credit expenses and hopefully restore your credit rating to a good standing.
In a nutshell CyberFinance helps its customers by:
1. Cutting down monthly installments by as much as 60% – which means you get more money in your pocket!
2. Protecting your assets from reposseion should you default on your loan.
3. Reduce your overall rate of interest thereby helping you pay your debt off faster!
How does Cyberfinance help me get out of debt?
Cyberfinance has a team of 60 specialist debt counsellors that help you through the process of becoming debt free. The whole debt assessment and consolidation process is a formal legal process which will allow a Debt Counsellor to negotiate on behalf of a consumer to arrange a restructured repayment plan with creditors. In brief the process can be broken down into 6 distinct steps:
Step 1: Fill out your application with CyberFinance.
Step 2: CyberFinance will reach out to your creditors which will notify them that you are under debt review and will prevent them from taking legal action against you.
Step 3: Cyberfinance will assess if you are over-indebted.
Step 4: This involves Cyberfinance negotiating with creditors on your behalf to reduce your monthly instalments and restructuring your debt to minimise interest rates.
Step 5: a Payment Distribution Agency (PDA) will channel your revised monthly instalments to your respective creditors.
Step 6: The final step is to make an application to the Magistrates Court to have your revised debt repayment plan made a court order.
As you can see, the debt review process is not that straightforward which is where CYberfinance ensures you have the necessary expert advice to guide you through the whole process successfully!
Cyber Finance is registered and regulated by the National Credit Regulator(NCR).