If I’m self employed can I put my companies assets under debt review along with mine?
If the asset is in your personal name you can put that particular asset under debt review. If the asset is in the company name you can not put the assets under debt review.

Why Debt-Counselling?
Debt Counselling was introduced by the National Credit Regulator (NCR) to help consumers who are struggling to pay all their debt.  We negotiate on your behalf with your credit providers to balance your income with your living expenses and payments to credit providers

Should I be employed to qualify for debt review?
Yes, you have to be employed.

Do I have to attend an interview to go onto debt review?
No it’s not necessary everything can be done telephonically and via email.

If I have judgments against me, can I still apply for debt review?
Yes, but you have to insure we receive all documentation and you have to reveal the complete situation.

Will I be listed on the Credit Bureau?
Yes, the credit bureau will be notified that you are under debt review.

Will my employer or colleagues know that I’m under debt review?
No, we never contact your employer about your financial situation.  All the information you provide us is confidential between the three parties involved i.e. you, NDRA & credit provider.

Will I still have access to credit when I’m under debt review?
No, you will not have access to any additional credit. After you have paid your debt you will have access to more credit.

What are the benefits of debt review?
Monthly payment to your creditors will be reduced to an affordable payment per month.When you have paid all your debt you receive a clearance certificate from us.  This will give you a clean credit record with ITC, thus if you apply for credit again you will have a clean credit record.

Can credit provider reject the lower payment you offer them?
Yes, they can reject the offer. In our experience we find that most credit providers do accept the lower payment if it’s a reasonable payment plan and if we can demonstrate your commitment to paying your debt, this is already demonstrated by going under debt review.

If I’m married COP, does it have an impact on my spouse if I apply for debt review?
Yes it does, you and your spouse will have to go under debt review.

What is the difference between Debt Counselling & Debt Administration?
Debt Counselling:  Designed to help client reduce the overall debt with creditors in the most cost effective way.

Administration: Could take a large portion of your disposable income to settle debt

Debt Counselling:  There is no limitation to the amount of debt that can be consolidated through Debt Counselling

Administration:  Debt can not exceed R50 000.

Debt Counselling: More cost effective then Administration.

Debt Counselling: The process will take a maximum of 60 working days before your credit providers receive payment.

Administration: The process could take more then a year before your credit providers receive any form of payment.