How affordable is Voluntary Surrender of Estate?

One of the best advantages of Voluntary Surrender of Estate is that you pay less on your debt and avoid piling interest rates.

With debt counselling many people have noticed that when they check on their debt a few years after starting with debt counselling, the amount they owe is terribly close to, the same or even more than what they had owed when they started with the debt counselling process.

The overhand Voluntary Surrender of Estate has here is that it enforces the law that holds you accountable for only 22c to the rand and protects you from piling interest on your outstanding debt.

With this service, we can reduce our clients’ monthly repayment to at least R2000 per month. As stated above, the general rule is that you would now owe 22c to the rand. So, if you have a lot of debt, this monthly instalment might be higher, in accordance with this rule.

For instance, if an individual has debt of around R300 000, the instalment will be approximately R2 500 per month for the period of 23 months.

All of this said, Senator will work out a proper payment plan according to your circumstances and only then will they be able to provide accurate figures.

What makes this entire structure efficient for over-indebted individuals is that the monthly instalment remains static for the duration of the process, and once the process had been completed, and all instalments honoured, they are free from all debt.

Whether you are currently under debt counselling or just about to apply for a debt-relief service, contact Senator Counsellors and see why so many of their clients have found the relief they had been waiting for.