Can You Change From A Debt Counsellor?

After all your extensive research and the binding shackles of debt have become too much to bear, you finally take the leap. You have undergone debt consultation and have received your personalised budget, including your personalised repayment plan. While the process appears to be an uphill battle, your excitement and optimism gravitate towards a brighter future, with the prospect of you becoming debt-free. Despite all the lovely promises made, you have unfortunately wound up with a debt counsellor failing to be the support structure they made out to be. The real question is, in order to find a better equipped and trusted debt company/counsellor; can you change from a debt counsellor?

While there is a process involved, rest assured that it is possible to transfer from your current debt counsellor to a different one. The process is as follows;

You will need to reach out to your current debt counsellor, where the following documents are to be submitted:

– A motivational letter is essential in conveying your dissatisfaction with their service and why you no longer want to utilise their services.

– A Form 17.7 must be requested from your current debt counsellor in order to initiate the transfer process. This document is vital to continue the transfer process. So ensure that the request is submitted prior to proceeding with the process.

Once your current debt counsellor approves the transfer, you must submit the following documentation to your new debt counsellor:

– A copy of your Identity Document as well as your spouse’s ID if married in community of property

– A signed and dated Power of attorney (POA)

– The Form 17.7 that you requested from your previous debt counsellor

– The current Payment Distribution Agency (PDA) statement of your court order – depends on which debt review phase you are currently in

Once you have submitted all of the stipulated documents, namely Form 17.7, your chosen debt counsellor will arrange that all of your paperwork is in order. It takes around a calendar month for everything admin-related to be in check.

In order to secure your position with a new debt counsellor, please ensure that all of your payments have been made and done so in a timely and consistent manner. A handy tip to consider is settling any outstanding service fees with the current debt counsellor. If you do not meet most of these criteria, you risk denial of changing to a new debt counsellor.

Everything covered in this article will positively increase your chances of success. So, can you change from a debt counsellor? Yes! Is it a simple process? It certainly is if you follow these handy steps.

If you would like to learn more about Debtco Group and how their services can benefit you; contact us today.