Debt Management

Although it still involves a Debt Consolidation loan as described above, it takes things one step further.  It addresses the dangers of either spending the Debt Consolidation money, or paying the debts as planned and then falling into the trap of opening new accounts or using old ones again.  It involves a process whereby the consumer:

1.    can pay off his/her debt by means of a Debt Consolidation loan

2.    can pay all his / her judgments and defaults

3.    can have all the judgment removed from his / her credit record

4.    can develop a disciplined financial strategy to remain debt free

With the implementation of the National Credit Act it became more important than ever to maintain your Credit Record.  However, unfortunately there are a huge number of people who do not have a good Credit Record, although not always due to a fault of their own.  Many people are stuck with a judgment or a default on their Credit Record often for a very small amount.  Because of this, the formal lenders in the mortgage market are very reluctant to grant these people a loan, even if the purpose of the loan is to consolidate their debt and clear these “Black Spots” on their record.  Bondpro specializes in granting lenders such as these loans for debt consolidation/management and even facilitates the removal of these adverse items from their Credit Record.  If you find yourself in this kind of situation, complete our Online Application Form  immediately.

Because of our Debt Consolidation/Management loans, we do not simply look at your financial situation as it is at this time.  We also look at what your situation would be like after we have granted your loan and you have successfully consolidated all your debt.  If you find yourself in a situation where your current expenses are too high and none of the formal lenders will grant your loan, fill in our online application form and let us help you.  A very important point to remember is that this process takes less than a year and you never have to mention it on any credit applications ever again and there is never any negative reference to this on your credit record.

Once the bond is registered the following steps take place:

• Bondpro will:
• pay your judgments and defaults
• arrange for the rescission of your judgments
• arrange for the Credit Bureaus to update their records once the rescissions have been done
• contact all your creditors and arrange favorable settlement terms with them
• start to pay the creditors according to the arrangements made
• You must:
• provide Bondpro with all your monthly statements every month
• ensure that your cheque / savings account is maintained without any problems
• ensure that you do not enter into any debt or loan agreements
• ensure that your payment profile with Bondpro is well maintained