Court Order
This is a Court Order issued by the Magistrate to ensure that you retain enough of your monthly income to support yourself and your family i.e. the people who rely on you.
Pros of administration order
Once you're in the debt trap
This is a Court Order issued by the Magistrate to ensure that you retain enough of your monthly income to support yourself and your family i.e. the people who rely on you.
The Magistrate orders a debtor (you) to repay his debt in monthly installments that you can afford..
Which means the Magistrate decides how much a person can afford to pay back on the total debt each month. He does so by deducting the requisite monthly expenditures such as food, school fees, clothing budget, loan, bond and/or furniture shop repayments from a person's salary.
The instalment must be paid to the court-appointed Administrator.
The Administrator pays the money into a Trust Account and every 3 x month the Administrator pays the person’s creditors until all the Debt has been paid.
If all the debt has been settled, the court issues a Certificate that all debt has been fully paid.
Old Netbank Building
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044 011 0500
mon-thur , 08.am - 17.pminfo@triangledm.co.za
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