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Debt Counsellors | Get Debt Relief Today | 0878221249

Author: Siba Dakana
by Siba Dakana
Posted: Sep 16, 2020
debt counselling

Debt Counselors, The #1 National Debt Counseling company in SA. Reduce Monthly Payments, Get out of Debt, Avoid being Blacklisted, Protection from Creditor Harassment, Avoid Car Repossession, and Protect your Assets.

What is the Debt Counselling Process?

In practise, a consumer will usually consult a Debt Counsellor when he or she realises that he or she cannot meet his or her monthly obligations.

In other instances, the consumer who has defaulted on payment on a particular credit agreement may receive a letter in terms of Section 129 of the Act from the credit provider that informs him/her of the default and refers him/her to, amongst others, a debt counsellor.

  1. Consumer consults a debt counsellor by completing this Free Online Application for Assessment for known as the Form16 or by sending us an email to
  2. A new monthly budget is made which covers all basic needs.
  3. Credit providers will supply information on all debts.
  4. A new repayment plan is made and sent to the creditors.
  5. Credit providers agree or make counter-proposals.
  6. The consumer starts to pay the new reduced monthly amount via a registered payment distribution agency
  7. Court documents are created including the plan and responses.
  8. The consumer signs the confirmatory affidavit for the court.
  9. The court considers the plan and makes a court order.
  10. The consumer pays every month.
  11. The PDA provides statements.
  12. Smaller debts are paid off making more funds available fo bigger debts.
  13. The time comes for the consumer to exit debt review.
  14. A clearance certificate is issued and all registered credit bureaus are informed.
  15. The consumer can begin to use credit again if they want.
Debt Counselling.

Debt Counselling or Debt Review is a legal process that is designed to help over-indebted South Africans regain control of their finances by restructuring their debt according to a legally approved plan.

Consumers who are struggling to meet their monthly debt obligations qualify to apply for debt counselling. These consumers should have a distributable income, which will be used to offer reduced payments to their credit providers. Consumers married in community of property must jointly apply for debt counselling.

Debt Counselling Benefits.
  • All of your debt repayments will be consolidated into one reduced monthly repayment plan.
  • Your assets, including your home and car, will be protected from repossession.
  • You will no longer get calls from your creditors demanding payment.
  • There is no permanent record of having undergone debt counselling.
  • There is only one monthly repayment to be made.
  • Your budget will meet your basic needs first before provision is made for debts.
  • You will never pay more money than you can reasonably afford.
  • A debt counsellor will suggest ways of cutting costs and saving money.
  • Gives you Peace of Mind that your debt is being paid.
  • Help You Live Comfortably with all living expenses covered.
  • Help You Reach Your Goal of settling the debt.
  • It helps you Change your financial spending behavior.
  • You do not pay any money upfront.
  • Debt Counselling Process.
  • Complete a free assessment form
    • It’s free of charge and only takes a few minutes.
    • Complete our online debt assessment and provide us with the details of your financial situation.
    • Submit all required documents for the initial assessment. (i.e your ID, Payslip, Bank Statements, Letter of Demands, etc).
    • We’ll assess and determine.
      • A Registered Debt Counsellor will determine whether your monthly expenses and debt exceed your monthly income.
      • A new monthly budget is made which covers all basic needs.
      You’ll be placed under Debt Counselling or Debt Review.
      • We’ll inform all your Credit Providers and the Credit Bureaus that you are under Debt Review.
      You only pay a single, reduced payment, that you can afford!
      • We’ll restructure your payment plan and negotiate with your Credit Providers.
      • This new restructured payment is paid via a registered payment Distribution Agency.
      The Application will be prepared for court and finalised.
      • Our attorneys will apply at the court to make your restructured payment plan a court order.
      • You will be required to sign and submit a confirmatory affidavit.

      While undergoing Debt Counselling, you will be protected against legal action taken by your Credit Providers and only have to pay one monthly, affordable reduced payment, leaving you with enough money for your monthly expenses

About the Author

The National Debt Review Center understands the high degree to which our clients depend on us to do what's right for them Complete our Free Online Debt Assessment Form here

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Author: Siba Dakana

Siba Dakana

Member since: Sep 13, 2020
Published articles: 1

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