If you are unable to make your monthly debt review instalment due to circumstances beyond your control, such as a serious accident or hospitalisation, your situation will be assessed based on reasonableness.
If you can provide valid proof, such as medical records or other relevant documentation, your debt counsellor can notify your credit providers of your temporary inability to pay. In many cases, credit providers may grant an exception, allowing your debt review to continue without immediate legal consequences.
However, it is crucial to understand that debt review does not include payment holidays. Missing instalments can have serious implications, including the risk of termination from the process.
Debt review is a legal debt rehabilitation programme and should not be misused to avoid financial obligations.
If you find yourself in a position where you may miss a payment, contact your debt counsellor immediately to discuss possible solutions.
