Debt Mediation vs Debt Review

Debt Mediation

Credit Clear
  • If you were previously under financial strain but you are now able to meet your obligations to your creditors, then debt mediation is the way forward for you
  • Debt Mediation is not listed at the Credit Bureau
  • You can cancel at any time of the process
  • There is less legal protection
  • Your creditors may still harass you even if an agreement has been reached for payments until the full arrears amount has been paid
  • You can apply for credit once your financial situation improves
  • Short term solution
  • Discounted settlement negotiations on outstanding amounts and interest
  • Disputes are investigated such as:
    - Prescription
    -In duplum
    - Fraud
    - Section 129 letters
    - Section 111 transactions
    -Emoluments Attachment Orders (Garnishee Orders)
    - Credit Bureau Inaccuracies

Debt Review

MDM Debt Counsellors
  • If you have suffered financial strain to such an extent that you are unable to meet your financial obligations to your creditors, then debt review is the way forward for you
  • You will be listed at the Credit Bureau under a "Debt Review" status
  • In order to remove the Debt Review status, you will need to get a Court Order declaring you no longer over-indebted or all your debt must be paid in full
  • You are legally protected against your creditors under the Debt Review Court Order
  • Your creditors will no longer harass you
  • You cannot apply for any new credit
  • Long term solution
  • Negotiated interest rates
  • Reckless lending investigated