Debt Review
Become debt-free in 60 months by using debt review; we reduce repayments for over-indebted consumers by the restructuring of debt, financial advice, and negotiating with credit providers.
View Debt review OffersBecome debt-free in 60 months by using debt review; we reduce repayments for over-indebted consumers by the restructuring of debt, financial advice, and negotiating with credit providers.
View Debt review OffersAccess debt review and debt counselling from experts that know exactly how to negotiate with your creditors to reduce your monthly repayments and increase your monthly cash flow.
Get the help you need today and experience instant debt relief!
Debt review is a formal process that aims to help consumers who are struggling with debt to restructure their payments and become debt-free. This legal process is regulated by the National Credit Act, which ensures that you’re treated fairly and that your rights are protected.
When you apply for debt review, a counsellor assesses your financial situation. They’ll negotiate with your creditors on your behalf to lower your monthly payments. This can result in a more affordable and manageable payment plan, and you can finally get on the road to financial recovery.
Debt review is a formal legal process designed to assist South African consumers who are struggling with debt. A debt counsellor assesses your financial situation and negotiates your debt. Once the process of restructuring your debts is complete, you’ll have a new, more manageable payment plan.
Debt review is a powerful tool if you’re struggling to keep up with your debt payments. It’ll allow you to make your debt more affordable and manageable. This can provide much-needed relief if you’re struggling to make ends meet.
To apply for debt counselling in South Africa, you must meet certain eligibility criteria and provide the required documentation. In this section, we'll explore these criteria in detail before discussing the step-by-step process that you’ll follow while under debt counselling.
Debts that can be included in debt review encompass a wide range of financial obligations, such as credit card debt, personal loans, store accounts, vehicle finance, home loans, overdrafts, student loans, medical bills, tax debts, and even garnishee orders.
Choosing a debt counselling agency is an important step in the process. It’s essential to choose a reputable and registered company. This is so you can ensure that the process will be handled correctly and professionally. You must do your research and compare different options. Look for reviews and testimonials from previous clients, and ensure that the agency is registered with the National Credit Regulator (NCR).
On average, the process can take between three to five years to complete. Debt review is a serious financial commitment and should not be entered into lightly. It's important to take the time to carefully consider your financial situation and explore all available options before applying.
It's also worth noting that while it can help alleviate financial stress, it may also have an impact on your credit score and ability to access credit in the future. Before committing yourself speak to a qualified debt counsellor who can provide you with tailored advice and guidance on the process.
Your credit report will reflect that you're under debt review. This means that your credit score will be negatively affected, as you'll be seen as a higher-risk borrower. While you're under debt counselling, you won't be able to apply for any new credit or take on any new debt.
However, once you've completed the process and all your debts have been paid off, your credit score will gradually improve over time. It's important to stay committed to your plan and make all your monthly payments on time to improve your creditworthiness.
While these three companies are some of the largest agencies that offer debt review in South Africa, it's important to note that size does not always reflect the quality of service. It’s best to review multiple agencies and debt counsellors to find the one that you feel confident will serve your best interests.