What are the common reasons for my monthly installment to increase?

Monthly Debt Counselling installments can increase due to one of the reasons below:

1. My original installment is not enough to cover all my debt under debt counselling
2. I would like to complete the debt counselling process within a short period
3. I missed a payment and need to make up on the arrears
4. I would like to add an account that was excluded from debt counselling. 

It is important to ensure that all accounts under the debt counselling process are receiving the accepted amount by credit providers, thus preventing the following:

1. Accounts going into arrears
2. Accounts being terminated from the process

Scenario 1: My original installment is not enough to cover all my debt under debt counselling.

Action: A vantage friendly consultant will contact you to discuss your new monthly installment in line with the required amount to be increased. The increased amount will ensure that all your accounts are covered by one monthly installment. 

Scenario 2: I would like to complete debt counselling within a short period of time

Action: Should you be in a better financial position and would like to complete the debt review process sooner, Contact your Vantage friendly consultant to discuss the increased installment amount as well as the specified period you would like to finish. 

Scenario 3: I missed a payment and need to make up on the arrears

Action: Should you miss a payment, your next payment must cover the previous payment as well as the current payment to avoid the following: 

• Possible termination of accounts
• Arrears on accounts
• Suspension of Vantage services

Should you not be in a position to settle the full double payment, a possible partial contribution over a period of (3 - 6) months is required to settle the outstanding arrears

Scenario 4: I would like to add an account that was excluded from debt counselling

Action: If you would like to add additional accounts to the process that was previously excluded, for example, a vehicle account, you would be required to increase your monthly installment by the amount provided by your Vantage friendly consultant.