Vanessa Soma — NCR-Registered Debt Counsellor 

National Credit Regulator (NCR) I am registered with the National Credit Regulator, the statutory body that regulates the South African credit industry under the National Credit Act. NCR registration is a legal requirement for any debt counsellor practising in South Africa.  

Debt Counsellors Association of South Africa (DCASA) I am a member of DCASA, the professional body representing registered debt counsellors across South Africa. DCASA members commit to a code of conduct that goes beyond the statutory minimum. 

B.Com Honours, Financial Markets My postgraduate qualification in Financial Markets gives me a working understanding of credit instruments, interest rate structures, and the products that most often push South African households into over-indebtedness.

B.Com, Economics My undergraduate degree in Economics underpins how I assess client affordability and structure realistic repayment plans.

Debt review, in my experience, fails when it is treated as a transaction. It works when it is treated as a relationship.

Every client who walks into my office or joins me on a virtual consultation has a different financial picture. Some are professionals whose salaries have not kept pace with interest rate hikes. Some are small business owners whose income dried up after the pandemic. Some are single parents juggling a bond, a vehicle finance agreement, and three store cards. Treating them all the same is the fastest way to fail them.

My approach has three parts.

1. An honest affordability assessment. Before I even mention debt review, I want to understand the full picture: your income, your essential expenses, and every credit obligation you have. If debt review is not the right answer for you, I will tell you. I do not put clients into debt review who do not need to be there.

2. A realistic restructuring plan. When debt review is appropriate, I negotiate with your creditors to extend repayment terms and, where possible, reduce interest rates. The goal is a single monthly payment you can actually afford, not a number that looks good on paper for one month and collapses by month three.

3. Ongoing support, not a handover. You are not handed off to a junior consultant after sign-up. I stay involved in your file. When a creditor pushes back, when your circumstances change, when you need a Clearance Certificate at the end, I am the person you speak to.

"Most of my clients are not reckless spenders. They are people whose income simply could not keep pace with rising costs. Debt review gives them a structured, legal way out, and it works." — Vanessa Soma

Section 86 Debt Review Applications I prepare and submit Form 16 applications under Section 86 of the National Credit Act, formally placing clients under debt review and notifying all credit providers and credit bureaus.

Creditor Negotiation and Restructuring I negotiate directly with banks, retailers, and short-term lenders to restructure repayment terms, extend tenures, and reduce interest where the National Credit Act permits.

Magistrate's Court Applications I coordinate the court application process to obtain a consent order, the legal instrument that protects your assets while you repay restructured debt.

Payment Distribution Agent (PDA) Coordination I work with NCR-registered Payment Distribution Agents to manage the single monthly payment flow from client to creditors.

Asset Protection Strategy For clients with bonds, vehicle finance agreements, or other secured debt, I structure the review specifically to keep the asset where it makes financial sense to do so.

Clearance Certificate Issuance At the end of the debt review process, once all restructured debt (excluding bonds) is settled, I issue the NCR Clearance Certificate that restores full credit standing.

Section 86 Debt Review Applications I prepare and submit Form 16 applications under Section 86 of the National Credit Act, formally placing clients under debt review and notifying all credit providers and credit bureaus.

Creditor Negotiation and Restructuring I negotiate directly with banks, retailers, and short-term lenders to restructure repayment terms, extend tenures, and reduce interest where the National Credit Act permits.

Magistrate's Court Applications I coordinate the court application process to obtain a consent order, the legal instrument that protects your assets while you repay restructured debt.

Payment Distribution Agent (PDA) Coordination I work with NCR-registered Payment Distribution Agents to manage the single monthly payment flow from client to creditors.

Asset Protection Strategy For clients with bonds, vehicle finance agreements, or other secured debt, I structure the review specifically to keep the asset where it makes financial sense to do so.

Clearance Certificate Issuance At the end of the debt review process, once all restructured debt (excluding bonds) is settled, I issue the NCR Clearance Certificate that restores full credit standing.

VS Debt Counseling Specialists (Pty) Ltd is the practice I founded after leaving Alexander Forbes. We are based at Office 1A, Steenbras Square, 41 Beach Road, Nahoon, East London, and we serve clients across the Eastern Cape and nationally through virtual consultations.

The practice is built around three commitments:

• Transparent fees. All debt counsellor fees in South Africa are regulated by the NCR. We follow the prescribed fee structure with no surprises.

• Direct access to me. Every client works with me, not a call-centre handover.

• No obligation assessments. Our initial financial assessment is free. If debt review is not the right answer, we will tell you that.

Contact card (right column):

• Address: Office 1A, Steenbras Square, 41 Beach Road, Nahoon, East London 5201

• Phone: 061 535 0417

• Email: info@vsdebtcounseling.co.za

• Hours: Monday to Friday, 08:00 to 16:30

• Website: vsdebtcounseling.co.za