MABCOR Financial Services
What is Mabcor?
Mabcor Financial Services is a long-established, multiple award-winning Debt Review and Debt Counselling Agency in South Africa.
Mission
Mabcor’s mission is to assist clients to keep up with monthly debt payments and to deal with their over-indebtedness thus guiding clients down the path to sustainable financial recovery.
What does Mabcor offer?
Mabcor offers over-indebted clients the services of a professionally qualified, accredited Debt Counsellor. The Counsellor assesses the financial situation of clients and negotiates with their credit providers on their behalf for reduced monthly payments and interest rates. A manageable repayment plan is then created and made legally binding by a court order.
Thus, instead of facing aggressive collection actions, judgments or the potential repossession of assets, Mabcor offers professional, legal guidance to stop legal action and give clients a breathing space while they work towards becoming debt-free.
Mabcor Services
- Creditors are stopped from starting or continuing with legal action against its clients. These actions include summonses, judgements, garnishee orders and repossessions for the debts under review.
- Restructured, Affordable Monthly Payments: The main goal is to reduce total monthly debt installment to an amount that clients can genuinely afford after essential living expenses. This is achieved by extending repayment terms and negotiating lower interest rates.
- Single Monthly Payment: Clients make one consolidated payment to a Payment Distribution Agency (PDA). The PDA handles distributing the money to everyone to whom clients owe money. This simplifies financial control and tracking.
- Potential Interest Rate Reduction: Mabcor is often able to negotiate lower interest rates on clients’ debts, especially unsecured ones. This can save a significant amount of money over the long term.
- Asset Protection: By stopping legal action, Mabcor can help clients protect valuable assets like their home or car from being repossessed. Losing assets usually happens when creditors pursue legal action successfully outside of a debt review.
- Structured Repayment Plan: Mabcor provides clients with a clear, manageable roadmap that has a definitive endpoint for becoming debt-free.
- Avoiding Sequestration: Mabcor makes every effort to assist clients to avoid being declared insolvent or bankrupt, which has serious long-term consequences.
- Credit Record Rehabilitation: While clients’ records show “Under Debt Review” during the process, once clients successfully complete the legal process and get a Form 19 Clearance Certificate, this status is removed and allows clients to rebuild their creditworthiness.
Why Choose Mabcor
Mabcor is registered with the NCR (National Credit Regulator). Its registration number is NCR No: NCRDC118 Mabcor offers its clients reduced stress and peace of mind by knowing that legal processes that offer protection and stopping harassment are underway. Further relief is offered to clients by knowing that there is a plan in place helping them to deal with overwhelming debt.
Mabcor and LearnYa Skills Academy
Mabcor has linked up with LearnYa Skills Academy to provide training interventions that will assist clients in overcoming financial indebtedness and to regain and retain personal financial stability.
Are you on board or not on board on the road to financial recovery?
