Residents who qualify for the City of Cape Town’s historic debt write-off incentive are implored to apply for financial assistance before the end of June.
According to Siseko Mbandezi, Mayoral Committee member for Finance, the municipality has written off debt worth R2 billion to date as part of the full council-approved special assistance initiative to help customers. “It also acts as an incentive to encourage residents to pay off their current debts. There is about R2 billion left and qualifying customers are encouraged to take it up,” he implored.
“This is in addition to the other relief available, such as some R3,4 billion in rates and services relief this financial year as well as no-interest payment arrangements for residents and businesses who have been severely impacted by the Covid-19 pandemic and lockdowns . . . Individual circumstances differ and the City does not have the means to provide blanket relief.”
Mbandezi added the City boasted an excellent payment ratio of about 98%, indicating most ratepayers pay for rates and services, without which the City cannot provide services. “However, we are sympathetic to residents who are struggling financially.”
More about the debt write-off incentive
. Customers are required to enter into a debt-payment arrangement. . Debt older than 1 July 2018 will be written off.. This incentive is only available until 30 June 2022.. Customers are encouraged to visit a contact centre to enter into a payment arrangement to benefit. . A condition of the payment arrangement is that the debt written off will be reinstated if customers default on their instalment plans.
V For more: https://bit.ly/debtwrittenoff.
