What happens if creditors don't accept my repayment plan?

If one or more creditors reject your proposed repayment plan, we can still proceed:

• We apply to the Magistrate's Court for a debt restructuring order

• The court reviews whether the proposal is reasonable and fair

• Courts generally support reasonable proposals made in good faith

• Once the court issues an order, it is binding on all creditors

In our experience, most creditors prefer to accept a reasonable proposal rather than face costly legal proceedings. Court applications are typically successful when the consumer can show genuine over-indebtedness and a sincere intent to repay.