PART 1Money advisers
Other matters on which a debtor must obtain advice6
The following are prescribed for the purposes of section 4(1)(d) of the Act as matters on which the debtor must obtain advice from a money adviser—
a
the income and expenditure of the debtor in accordance with the common financial tool;
b
the evidence required to confirm the debts of the debtor in making the debtor application;
c
the debt advice and information package16;
d
the options of a voluntary repayment plan, debt payment programme under the Debt Arrangement Scheme or a trust deed;
e
the consequences of sequestration and that an award of sequestration, if granted, is recorded in a public register and may result in one or more of—
i
the debtor being refused credit, or being offered credit at a higher rate, whether before or after the date of the debtor being discharged;
ii
the debtor not being able to remain in his or her current place of residence;
iii
the debtor being required to relinquish property which the debtor owns;
iv
the debtor requiring to make contributions from income for the benefit of creditors;
v
damage to the debtor’s business interests and employment prospects;
vi
the debtor still being liable for some debts;
vii
the debtor’s past financial transactions being investigated; and
viii
other restrictions or requirements imposed on the debtor as a result of the debtor’s own circumstances and actions.