One fixed monthly payment
When you go under debt review, you no longer have to stress about your monthly debt payments. We simplify the process for you. You only have one fixed lower repayment per month to pay towards your debt.
Reduced monthly payments towards debt
The main aim of debt counselling is to help you pay off your debt for good, while still allowing you to have enough money to cover your other expenses.
We will reduce your monthly repayments towards debt by extending your repayment period. Therefore, by paying a decreased amount every month, you can afford to pay off your debt and cover all of your other living expenses.
Legal protection
Once you’re under debt review you will not have to worry about any legal letters or phone calls from creditors. You and your assets are legally protected by the NCA from creditors. This means that creditors may not hassle you provided that you maintain your new monthly debt repayments.
No blacklisting
While under debt review, the credit bureaus cannot blacklist you as you are protected by the NCA. Once you have completed the debt review process, the credit bureaus have no permanent record that you have ever been under debt review.
Take a break from credit
Once you’re under debt review, your credit profile is flagged at the credit bureaus. This means you cannot take out any debt until the debt review process is complete. This is a great way to stay clear of incurring more debt and start focusing on a debt-free future.
Once you have settled all your debts, you will receive a clearance certificate and the credit bureau will be notified to remove the flagged listing.
How long you are under debt review depends on a number of factors, including:
How much debt you have currently;
How high your debt interest rates are; and
How committed you are to becoming debt-free.
You will become debt-free if you complete the debt review process
We guarantee that you will settle your debt through our successful debt review process. If you are committed to working towards a debt-free future and you keep up with your monthly payments towards debt, you will gain financial freedom.
You may not qualify for debt review
Any South African credit user can apply for debt review, but you may also not qualify for it. To qualify for the process, you will need to meet the requirements set up by the NCA.
Requirements include:
You must be a South African citizen
You must be over-indebted
You must be unable to meet all your financial obligations on time
You or your spouse must have a steady income
If a debt counsellor determines that you are not over-indebted, you will not qualify for debt review. If this is the case, you will be issued with a letter of rejection explaining why you have been rejected.