Fees
Debt Smart’s fees are set out in accordance with the guidelines provided by the Debt Counselling Association of South Africa.
- Fees for an individual with gross income of more than R2 500.00 per month or household income of more than R3 500.00 per month:
- An Application Fee of R50 (excluding Vat) upon receiving an application for debt review.
- A Rejection Fee of R300.00 (excluding Vat) in respect of consumers whose applications have been rejected if found that the consumer is not over-indebted.
- A Restructuring Fee of R3000.00 (excluding Vat) for an individual application or R4000.00 (excluding Vat) for a joint application; or the lesser of the first installment of the restructured monthly payment.
The restructuring fee is payable at the first installment of the restructured monthly payment.
Should the Debt Counsellor fail to submit proposals to Credit Providers or
refer the matter to a Tribunal or a Magistrate Court within 60 business
days from date of the debt review application the Debt Counsellor has to
refund 100% percent of the fee paid by the consumer.
- A Monthly After-Care Fee of 5 percent (excluding Vat) of the monthly installment of the debt re-arrangement plan up to a maximum of R300 (excluding Vat), for a period of 24 months, thereafter reducing to 3 percent (excluding Vat) of the monthly installment, to a maximum of R300 (excluding Vat), for the remaining period of the debt re-arrangement plan.
- Should the consumer withdraw from the process after completing the Restructuring phase, a fee equal to 75 percent of the restructuring fee is payable by the consumer.
- Legal fees, if and when they occur, are recovered from the consumer provided the amount of such fees are disclosed up-front to the consumer and agreed to in writing by the consumer.
