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Debt review, also known as debt counselling, is a debt relief measure in South Africa that helps over-indebted consumers get out of debt. The National Credit Act (NCA) introduced the process in 2007 to prevent over-indebted consumers from being blacklisted and having to deal with the consequences.

Debt review has become a lifeline for many South Africans who are struggling to make ends meet because of unmanageable debt.

The National Credit Regulator (NCR) has provided guidelines for debt counsellors to follow when assessing whether a consumer is over-indebted and eligible for debt review. These guidelines take into account the consumer’s income, expenses, and debt obligations to determine whether they have sufficient funds to cover their living expenses while also servicing their debt.

When you find yourself in a position where your expenses exceed your income. This is a simplistic answer, but the truth is, we can’t predict the future. If you are in a position where you are taking more and more credit with no clear end in sight, it may be time to contact a debt counsellor.

Or at the very least do this now so you are aware of your options should it come to that.

Debt Counselling is a government program created to assist the public when times are hard. This doesn’t mean you need to be placed in debt review the moment you find yourself struggling financially, but it is a good idea to be informed of your rights and what can be done if your situation worsens.

If you think that it is time to seek help, or you have received a notice of repossession do not wait. Click the Call Me Button on this page.

We’ll assign a professional debt counsellor to you immediately.

When you receive a court order to repossess.

The consequences of repossession are far reaching on your financial future so it is important to take action before this happens.

You will receive a Section 129 letter from your creditor. This letter is sent to a consumer when the consumer is in default of the credit agreement, and the consumer has failed to make an arrangement to settle the arrears.

You will have 10 days to respond, and this can be a scary thing. But here is the good news:

Your debt counsellor will respond to the letter with an intention to review. From this point on you are protected by law. Debt counselling, or debt review under the National Credit Act means that you are taking action under the assistance and advice of registered professionals in the field who’ll take care of the matter on your behalf.

Step 1. Contact a registered Debt Counsellor to guide you through the process.

Step 2. Complete a debt assessment and provide us with the details of your financial situation.
Step 3. Your Debt Counsellor determines whether your monthly expenses and debt exceed your monthly income.

Step 4. We’ll inform all your Credit Providers and the Credit Bureaus that you are under Debt Review.

Step 5. We’ll restructure your payment plan and negotiate with your Credit Providers.

Step 6. Our specialist attorneys will apply at the court to make your restructured payment plan a court order.

While undergoing Debt Counselling, you will be protected against legal action taken by your Credit Providers and only have to pay one monthly, affordable reduced payment, leaving you with enough money for your monthly expenses

There is a lot to discuss when it comes to Debt review. We could put it all here, but you would probably be overwhelmed.

That is why our Government has people like us who are registered and certified as professionals in our field to guide you every step of the way.

Give us a call, so we can talk you through your problem.