Our Frequently Asked Questions

Debt Counselling is a voluntary process created to assist over-indebted consumers. The Debt Counsellor assesses the consumers’ debts, rearranging the debt putting in place a repayment plan that is affordable to the consumer. Although Debt Review is a relatively new profession in South Africa, the concept has been proven in countries such as the U.S.A and the UK. Debt Counselling has the consumers’ wellbeing at heart, providing a tool whereby the consumers’ dignity remains intact and they are rehabilitated into the credit market. Debt Counselling also provides safety for your assets including your Home and Car.

Seeing that you are reading this, you will more than likely benefit from Debt Counselling. The answer is simple, you need a debt counsellor when you become over-indebted. A consumer is considered over-indebted if the money left after paying essential expenses such as groceries, school fees, petrol/transport, policies, medical, cell phone/landline, insurance etc. is not enough to pay their debts. Some indications that you are over-indebted:

  • You use your credit card and overdraft facilities to pay debts and buy food and other necessities;
  • You borrow money to pay other debts;
  • You skip payments on some accounts in order to pay others because you cannot keep up;
  • You cannot pay your bills at the end of the month;
  • You receive letters and summonses from creditors and/or lawyers;
  • You are considering being placed under administration;
  • You have judgments granted against you.
In Terms of the National Credit Act your creditors may not harass you while you are under debt review. Sometimes it can take a bit of time for creditors to update all their departments with the fact that you are under review – should they contact you, let them know that you are under debt review and that we are acting on your behalf. You should forward any letters from creditors for us to deal with.

NO, Debt Counselling / Debt Review is not Administration. The difference between the two are as follows:

  • Debt Counselling has no limit to the amount of debt and can also include your houses and vehicles. Administration has a cap of R50 000.
  • With Administration you are blacklisted while with Debt Counselling you will only be flagged at the credit bureaux and you will be cleared after a clearance certificate is issued by the Debt Counsellor or you withdraw.
  • Administration fees are much more than Debt Counselling Fees.
  • Debt Counselling is focused on consumers with assets and larger debts, where Administration is the answer for the consumer with smaller debts.
Immediately. You will benefit from a realistic budget which will allow your creditors to be paid at a rate which is affordable to you.
Debt Review cannot make you lose your home or your vehicle. It can however save your home and vehicle, but this will obviously depend on your unique circumstances. Factors that will determine this will include the following:

  • Have you received a Section 129 letter from your Credit Provider, and if so, how long ago? If you receive a Section 129 letter from your Credit Provider, you will have 10 working days in which you can obtain the services of a Debt Counsellor, who will endeavour to save the asset.
  • Have you been served with a summons in respect of your mortgage bond or vehicle finance?
  • How many vehicles do you have and what are they used for? Quad bikes and Jet ski’s will for example be regarded as luxury vehicles and might have to be returned to the bank.
  • Are you giving your full cooperation in the program?
  • Your Content Goes Here

The bottom-line remains that you will always be in a better position to keep your home and your vehicle when you are under Debt Review, rather than trying to fight off the banks yourself.

Our fees are regulated by the National Credit Regulator and are very reasonable, as the idea is to get you out of debt. The fees will be explained to you in detail once you contact us. The important thing to remember here is that our fees and disbursements are included in your affordable debt repayment plan.
You should contact us immediately the sooner you do the better the chances are for assisting you.
You can still contact us. There might be other means of assisting you. We are still able to make sure your total debt repayments are less, even if it is only on the debt you do not have judgment on.
Your Credit Bureaux status will show that you voluntarily chose to go under Debt Review. This is not a Blacklisting. However, you will not be able to obtain any further credit while under Debt Review. But once you have paid your debts you are issued with a clearance certificate and you will have a clean and clear record with all the credit bureaux’s and the NCR.
Not at all. Provision is made in your debt repayment plan for all your insurance policies. In fact, if you have vehicle finance, you will be compelled to have insurance on the vehicle.
No we do not give you a loan, but we will consolidate your debt without you having to take out another loan. What we do is negotiate reduced monthly payments with your creditors in order for you to cope with your monthly debt commitments. You will only have to make ONE single payment each month directly to a Payment Distribution Agency, whom in term will distribute your funds to your creditors.