Administration Order

You can apply for an Administration order if the total of all your debt is R50 000,00 or less.

Administration Orders are granted by a Magistrate’s Court and you will have to make payment every month to your Court appointed Administrator who will then distribute your payments to all your creditors monthly, until all your debts (as well as legal and administration costs) have been settled in full. Bear in mind that this could take many years.

Although an administration order will allow you pay a much smaller amount than you would otherwise be paying towards your debt, you will be paying much more over the long term because the interest on your debts will continue to escalate.

One of the most important advantages of an Administration Order as a debt solutions is that your credit providers won’t be able to take (or continue) legal action against you, or attach your assets.

 

 

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