FAQ's

Debt review, established under the National Credit Act (NCA) in South Africa, offers legal relief to people facing overwhelming debt. It involves working with a certified debt counsellor who assesses your finances and negotiates with creditors to lower your monthly payments. This process helps make your financial obligations more manageable, giving you a clear plan to pay off what you owe. Without the added risk of repossession or legal action from your creditors. It’s a supportive approach aimed at helping you regain financial control and protect your assets while steadily working toward financial freedom.

Debt review legislation states that once an individual is under debt review, their creditors cannot take legal action against them without permission from the court. This legal protection is provided under the National Credit Act (NCA) and is intended to protect over-indebted consumers from harassment and unfair debt collection practices.

When an individual applies for debt review, the debt counsellor will notify all their creditors of their intention to enter the debt review process. The notification will include details of the individual’s financial situation and the proposed repayment plan. Once a creditor has been notified of the debt review application, they cannot take any legal action against the individual for up to 60 working days.

During this 60-day period, the debt counsellor will work with the creditor to try and reach an agreement on the proposed repayment plan. If an agreement cannot be reached, the debt counsellor may refer the matter to a Magistrate’s Court for a ruling.

If the court approves the proposed repayment plan, it becomes a court order, and the individual is legally required to make the agreed-upon payments. The court order also provides legal protection to the individual, as it prohibits their creditors from taking any legal action against them without permission from the court.

As everyone’s debt review plan is different, the amount of time the process takes to complete will vary from person to person. Depending on your circumstances, it can take between 3 to 5 years to get rid of all your debt.

Once you have completed the debt review process and all of your debts have been settled in full, your debt counsellor will issue a debt review clearance certificate. The debt review clearance certificate serves as proof that you have completed the debt review process and that you are no longer under debt review.

In some cases, the debt review clearance certificate may be issued within a few weeks after you have completed the debt review process. However, it can take several months to complete the process, especially if there are any disputes or negotiations with creditors.

It is important to keep in touch with your debt counsellor throughout the debt review process to ensure that everything is proceeding smoothly, and to follow up with them after the process is complete to ensure that you receive your debt review clearance certificate as soon as possible.

The debt review process offers legal protection to over-indebted individuals when they enter the debt review process. This protection is provided under the National Credit Act (NCA) and is intended to protect consumers from harassment and unfair debt collection practices.

Once an individual enters the debt review process, their creditors are legally required to stop all debt collection efforts, including phone calls, letters, and legal action. This protection remains in place for the duration of the debt review process, which typically lasts between three to five years, depending on the individual’s circumstances.

If you’re wondering if debt review is a good idea or not, the answer is YES!

Debt review will not only help you get out of debt, but you will also learn how to take control of your finances.

In 2007, the National Credit Act introduced debt review to financially strapped South Africans. A lot of South Africans wonder: Should I go under debt review to get out of debt?

If you’re struggling to make ends meet because of debt, you’re not alone. Many consumers across South Africa are struggling financially and they all seek financial relief.

No. We never contact clients at work unless asked to do so.

No. The whole process can be finalised telephonically and by email. Therefore, you can contact us no matter where you stay in South Africa.

No, while you are under Debt Review, your Credit Providers cannot “blacklist” you. However, if the “blacklisting” takes place before you apply for Debt Review, it will reflect on your credit record. This is another reason why you should rather apply earlier than later for Debt Review.

You will experience the relief that Debt Review offers immediately. We will work out an affordable provisional repayment plan for you within the first 5 days. In terms of the provisional repayment plan, you will make a single monthly payment to a Payment Distribution Agency (PDA). The PDA will distribute the money according to your plan. Your Credit Providers will not be allowed to take action against you during the first 60 working days. During this time, we will prepare your final repayment plan.