The National Credit Regulator (NCR) issues fee guidelines for Debt Counsellors, this includes an application and administration fee of R350 plus VAT, a restructure fee equal to the first months instalment up to a maximum of R8,000 plus VAT ( maximum of R 9000 for joint application married in community of property ) and a reckless lending fee of R 1500.00 plus VAT. In addition there is a monthly maintenance fee of 5% of the instalment up to a maximum of R450 plus VAT. These fees ensure you receive professional service from your Debt Counsellor at all times and are deducted from your monthly installments.
There is also a legal fee payable to the attorneys for obtaining a court order to ensure you are protected from your credit providers for the duration of your Debt Review. We will provide details of this with your application.
NOTE: VAT IS ONLY CHARGED IF THE DEBT COUNSELLOR IS VAT REGISTERED