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How it Works

Affordable Repayment

Debt review puts a new, legally binding payment agreement in place with your credit providers.

Regulated Process

It’s a tightly regulated process, protected by legislation.

You're Protected

There’s little leeway to deviate from the standard process. Here’s why this is a good thing.
Credit providers and debt counsellors (like us) must comply with these legal guidelines. It ensures that we do our job, that your new payment agreement is honoured and that you’re treated fairly at all times.

The Foster Difference

If debt review is pretty standard, then what do we mean when we say: we do it differently?  We’ve found ways to make it even better for you.
THE FOSTER WAY
THE STANDARD PROCESS

Sign
Up
‍

Complete & submit your application

We make effort to understand your financial journy and provide you with a solution that bst suits you

We make effort to understand your financial journy and provide you with a solution that bst suits you

We connect you with a debt review mentor that knows the journey and can give you valluable insights and support.

Notify Your
Credit
Providers

Your credit providers and the credit bureaus are informed of your application

We identify and challenge any irregulatities on your loan agreements.

We help you understand your relationship with money and help you set financial goals.

Negotiate
Repayment
Plan

Complete & submit your application

We identify and challenge any irregulatities on your loan agreements.

Consent
Order
Granted

A debt repayment
plan is negotiated with your credit providers

We provide you with personal financial coaching throughout your debt review journey,

Issue
Clearance
Certificate

Once you’ve settled
all your debt you’ll receive a clearance certificate which means that you have successfully completed the debt review process and are debt free.

We will refund 100% of your restructuring fee if you successfully complete debt review. We also offer post-debt review support to make sure you continue to reach your financial goals.

Sign
Up
‍

Complete & submit your application

Notify
Your Credit
Providers

Your credit providers and the credit bureaus are informed of your application

Negotiate
Repayment
Plan

Complete & submit your application

Consent
Order
Granted

A debt repayment
plan is negotiated with your credit providers

Issue
Clearance
Certificate

Once you’ve settled
all your debt you’ll receive a clearance certificate which means that you have successfully completed the debt review process and are debt free.

THE STANDARD PROCESS

Sign
Up
‍

Complete & submit your application

    Notify Your
    Credit
    Providers

    Your credit providers and the credit bureaus are informed of your application

      Negotiate
      Repayment
      Plan

      We negotiate your debt repayment plan with your credit providers. 

        Consent
        Order
        Granted

        We confirm your debt repayment plan with a binding order.

          Issue
          Clearance
          Certificate

          Once you’ve settled
          all your debt you’ll receive a clearance certificate which means that you have successfully completed the debt review process and are debt free.

            THE FOSTER WAY
            • We make effort to understand your financial journey and provide you with a solution that best suits you.
            • We connect you with a debt review mentor that knows the journey and can give you valuable insights and support.
            • We help you understand your relationship with money and help you set financial goals.
            • We identify and challenge any irregularities on your loan agreements.
            • We help you build a savings habit by including a monthly payment that goes towards building a one-month-salary emergency fund, accessible when you've successfully completed debt review.
            • We provide you with personal financial coaching throughout your debt review journey.
            • We offer post-debt review support to make sure you continue to reach your financial goals.
            THE STANDARD PROCESS

            Sign
            Up

            Complete & submit your application

              THE FOSTER WAY
              • We make effort to understand your financial journey and provide you with a solution that best suits you.
              • We connect you with a debt review mentor that knows the journey and can give you valuable insights and support.

              Notify Your
              Credit Providers

              Your credit providers and the credit bureaus are informed of your application

                THE FOSTER WAY
                • We help you understand your relationship with money and help you set financial goals.
                • We identify and challenge any irregularities on your loan agreements.

                Negotiate Repayment Plan

                We negotiate your debt repayment plan with your credit providers. 

                  THE FOSTER WAY
                  • We help you build a savings habit by including a monthly payment that goes towards building a one-month-salary emergency fund, accessible when you've successfully completed debt review.

                  Consent Order Granted

                  We confirm your debt repayment plan with a binding order.

                    THE FOSTER WAY
                    • We provide you with personal financial coaching throughout your debt review journey.

                    Issue Clearance
                    Certificate

                    Once you’ve settled all your debt you’ll receive a clearance certificate which means that you have successfully completed the debt review process and are debt free.

                      THE FOSTER WAY
                      • We also offer post-debt review support to make sure you continue to reach your financial goals.
                      At Foster, we are pushing the frontiers of what debt review can do for your overall financial wellbeing, beyond clearing your debt.

                      Why?

                      Most individuals who start debt review, do not successfully complete the process, and most who have completed it, fall back into over-indebtedness.

                      Clearly, something isn’t working. We are committed to changing this narrative.

                      Our goal is to enable every individual who starts their debt review journey with us to successfully complete it and to be set up for lasting financial success long after debt review.

                      How?

                      We’ve added extra support steps in the normal debt review journey so that it’s as easy as possible for you to:
                      • Transition into the process.
                      • Stay committed towards successfully becoming debt free.
                      • Foster good financial habits and decision-making to use after debt review.
                      While we work on clearing your debt, we also work on getting back your financial confidence, so that you feel equipped to face your finances after debt review.
                      Sounds Good to Me
                      Ready to
                      apply?
                      ‍
                      Download Application Form

                      So, what can you expect?

                      Making this decision will bring about some changes to your daily life. Debt review is a commitment, but ultimately a commitment to a better, financially empowered way of life.  

                      Initially it can
                      feel like a lifestyle
                      adjustment.

                      You should be able to pay your monthly expenses and allocate the maximum amount you can afford towards repaying your debt. This might mean tightening your budget, spending less and living more modestly.

                      You won't have access to more credit.

                      Chances are, until now, you’ve often relied on credit to get through the month or to cover unplanned expenses. You’ll learn how to manage your money so that you won’t need debt during the month and break the habit. Once your clearance certificate is issued, the debt review status on your credit record will be removed.

                      You can’t miss your debt review payment.

                      If you do, credit providers can end the debt review agreement and take legal action against you for any unpaid debt. As long as you uphold the agreement, you are protected.  If you struggle to make payment at any point, reach out to us first.
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                      Registered debt counsellor NCRDC3593