Section 74 of the Magistrate’s Court Act allows people with no tangible assets and debts of up to R50 000 to apply to the courts for an administration order. The, order temporarily protects debtors (consumers) from their creditors and enforces a repayment plan that enables borrowers to repay their debts and still have some money for living expenses. Unfortunately, some unscrupulous administrators regard over-indebtedness as a moneymaking opportunity, and lure over-indebted consumers with promises of quick solutions to “get rid of their debt”. The big dangers are the fees or charges of these administrators and the non- payment of your money to the creditors and this leads to mounting debt that is never settled.
Our mission is to assist organizations and individual to end their financial crisis.