Q - How much is a debt collector allowed to charge a debtor?

A - Debt Collectors, like JDT Financial Services, charges fees in terms of the Debt Collector’s Act, 114 of 1998. The act prescribes that debt collectors cannot charge fees and costs to a debtor’s account exceeding the amount of R814.00 This amount is exclusive of VAT and collection commission.

Q - Who will help me to  get my Credit Bureau cleared and Judgments removed?

A - As soon as your debt is paid in full and all monies allocated to your account with your Credit Provider, your Profile at all Credit Bureaus will be updated by your Credit Provider within 7 working days. Paid in full judgments will be removed as well.

Q - How can I repay my debt that has been handed over to a debt collector?

A - The debt collector will assist you with an affordable monthly instalments or you can negotiate a discounted once off payment to Settle the debt.

Q - What does it mean if I am listed on ITC?

A - A person will be listed on all South African Credit Bureaus as a default payer if is he/she defaults on their credit payments. If a judgment was obtained, the judgment will be listed on your profile.

Q - Can debt collectors charge interest?

A - Yes, the applicable loan interest rate when the loan was concluded will be charged.

Q - How do I get a Judgment rescinded?

A - As a judgment is a Court Order; the rescission of this judgments must be applied for at Court as well. The Clerk at the Court will assist you with the process to follow or you can request assistance from your Legal Advisor.  

Q - How do the Credit Provider get my payments from JDT?

A - JDT pay all funds received in our Trust Account to the Credit Provider on a Weekly basis. We also effect Monthly pay overs to all the Creditors.