cat Debt Review Knowledge Centre

DebtSafe’s registered Debt Counsellors have the training and experience to administrate the Debt Review process effectively, making sure you reach your end goal – fixing your debt and receiving the opportunity to build an improved financial future.

Even though DebtSafe guides you through each step it is highly beneficial to understand the intricacies of the process. It will empower you to make an informed decision about joining the process, or if you are already advancing through the steps, make the most of this debt solution.

Explore the Debt Review Knowledge Centre topics below to learn about, and comprehend, the inner workings of the Debt Review process and how it will benefit you.


Now is NOT the Time to Be a Non-Paying Consumer
Debt Review Knowledge Centre

Now is NOT the Time to Be a Non-Paying Consumer

The world has sure been hit hard by Covid-19, mostly known as the Coronavirus. And, panic, frustration, and uncertainty are also evident in the heartbeat of Africa. President Ramaphosa has instructed South Africans to go into a 21-day lockdown period from 26 March, starting at midnight. And, in between all the havoc, consumers are still

A: It is the employer’s choice on what the exact requirements are for their employees, so we will not be able to say definitively.

However, historically we have seen that in general being under Debt Review is not an issue when looking for employment. The only industry that might have some question is if you are looking to be employed in the financial sector.

Theoretically, there shouldn’t be discrimination towards someone in Debt Review when it comes to employment opportunities.

A: If you completed your previous Debt Review successfully then it should be possible. 

But it is very unlikely that your second Debt Review will be granted if you failed to pay your first Debt Review instalments. The main reason for this is that you will still need to pay your first Debt Counsellor’s outstanding fees. Plus, your creditor will most likely not agree to any new repayment plan since the last repayment plan was not followed. 

A: Alternatively known as the Cancellation Form.

Whether a Debt Review is cancelled voluntarily or involuntarily the National Credit Act (NCA) requires that a Debt Review Cancellation Form is completed.

There are serious considerations to make before cancelling your Debt Review. These include the following:

  • A cancellation fee of 75% of the debt restructuring fee is payable if you have not yet paid your first instalment and your repayment plan has been calculated.
  • The original credit agreement is re-established, and your credit providers are free to proceed to enforce their rights. This could lead to immediate legal action against you.
  • You will not receive your Clearance Certificate that clears your credit record.
  • It will be much harder to apply for Debt Review in the future.

A: Creditors have the right to terminate your Debt Review when:

  • Payments are not received according to the payment plan.
  • The amount being negotiated is not accepted.
  • When a counteroffer is not accommodated.

In the case of a termination, DebtSafe will apply for reinstatement.

The biggest reason we have seen for a creditor to terminate a client’s Debt Review is that the client stops making their monthly Debt Review payments. Missing a Debt Review payment gives the creditor the legal standing to terminate the client’s Debt Review and in the worst case, begin with legal action against the client.

A: Firstly, Debt Counsellors, as stipulated in the National Credit Act (NCA), are not allowed to manage their clients’ money. Rather, the NCA requires that a Payment Distribution Company (PDA) handles the collection and distribution of funds of Debt Review clients.

The three main reasons why the statements differ are:

  • Payments are processed at different periods. The PDA will distribute the funds to the creditors, and a couple of days after that the creditor applies the payment to the account.
  • The PDA statements include the Debt Review fees (link to that FAQ), whereas the creditor statements do not.
  • Creditor statements include the service fee whereas the PDA statements do not include creditor service fees.

Therefore, PDA statements should be seen as estimates. But, if a client is concerned about the difference in balance they should contact their Debt Counsellor to check if there are any discrepancies or issues that need to be addressed.

A: When in Debt Review all your current credit agreements are restructured into your monthly Debt Review repayments.  Furthermore, you are not allowed to acquire any new or additional credit during your Debt Review program.

With that said you will not be allowed to trade in your current vehicle below Debt Review for a new vehicle if it is linked to a new credit agreement.

You can, however, voluntary surrender  your vehicle while in Debt Review.

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A:

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It can be stressful when you find yourself overwhelmed with debt. Your options become very limited, and you must navigate your choices carefully. Here, we will explore the disadvantages of Debt Review (also referred to as Debt Counselling and No-Loan Debt Consolidation) so that you can make an informed decision that is right for your circumstances and long-term financial goals.

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Let’s Recap on What Is Debt Review
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Debt Review is a legal process that helps individuals struggling with severe over-indebtedness manage their debt and become debt-free. It’s important to understand that it’s not a quick fix. Paying off severe debt requires commitment and a structured approach to achieve long-term financial stability.

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Here’s a breakdown of the pros and cons of Debt Review to help you decide if this solution is your answer to turning your finances around:
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Disadvantages (and their impact):

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No access to new credit. 

During Debt Review, you cannot access new loans or credit cards. While this helps break the borrowing cycle, it can restrict your financial flexibility

This is a big ask for most people. And understandably so, stepping away from the dependency on credit is a big hurdle. Even though this is the hardest part of the Debt Review process, it is essential for the fairness and effectiveness of the process, and here are the key reasons why:

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Prevention of Further Debt Accumulation: Granting you access to additional credit would defeat the purpose of Debt Review. Acquiring more credit would lead to more debt, making it impossible to meet your repayment obligations. One of the essential reasons for Debt Review is to ensure that you can afford your repayments while having sufficient funds for your daily expenses.

Court Order or Legal Agreement. When you enter into Debt Review, you receive a Court Order. This legally binding agreement outlines the terms of the debt repayment plan, which is the reduced repayment plan, making your debt affordable. It also provides you with legal protection against repossession. Part of this court order includes restrictions on obtaining new credit, which brings us to the following reason:

Protection of Creditors’ Rights. Creditors agree to participate in the process, expecting you to follow the repayment plan agreed upon in the Court Order. If you take on new debt while under Debt Review, it essentially breaks that legal agreement and jeopardises the creditor’s ability to recover the amount you legally owe them.  

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Regulatory Compliance and Fraud Prevention. The Debt Review process is regulated by laws (the National Credit Act) and strictly governed by the NCR (National Credit Regulator). This is to protect South African consumers like you, ensuring fair treatment by creditors. Also, restricting access to new credit helps prevent individuals from engaging in fraudulent behaviour, such as taking on additional debt without the intention of repaying it, which could harm creditors and the integrity of the debt review process.

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Extended Repayment Plan

Your debt payment period will be extended to lower your monthly instalments drastically. This means it will take longer to pay off your debts, and you’ll continue to accrue interest on the outstanding balance, leading to higher overall interest payments.

This might feel like a raw deal, but remember, this process is for individuals facing extreme financial hardship and unable to afford their monthly financial obligations. The legal framework surrounding debt review takes this into account. And the only way to get the creditors to ease their repayment requirements is by extending the repayment period. 

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The duration of your Debt Review will depend on your unique situation. Request a free, no-obligation quote to get a better idea of the repayment period.

You can view it as the middle ground, where creditors still get their dues, and your financial strain is lifted, permitting you that much-needed breathing space to afford your debt repayments and your family’s essential living costs. 

When your financial circumstances improve – like a new, higher-paying job – you can always pay off your debt faster, speeding up the process.

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Impact on Credit Score

While Debt Review is not a blacklisting, it is flagged on your credit report for the duration of the process. 

Credit reporting agencies and creditors are typically subject to regulatory oversight, which includes requirements for accurate and transparent credit reporting practices. Including Debt Review status on credit reports helps ensure compliance with these regulations. This pertains to the first disadvantage mentioned earlier. Creditors must make responsible lending decisions, and granting credit to individuals who cannot afford their current obligations will be considered reckless lending.

It’s important to note that being over-indebted for an extended period negatively impacts your credit score. Individuals seeking a solution like Debt Review are most likely behind on some of their payments, meaning their credit record is already flagged from those overdue payments. 

After the Debt Review process is completed, a Clearance Certificate will be sent to the credit bureaus and your creditors. This legal document requires them to remove the Debt Review flag, allowing you to start rebuilding a healthy credit score.

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The Advantages of Debt Review

  • Reduced monthly payments: Debt counsellors negotiate with creditors to lower interest rates, resulting in a single, more manageable monthly payment.
  • Legal protection: Debt Review shields you from creditor harassment, legal action, and repossessions while you make repayments.
  • Focus on debt elimination: The program encourages you to stop borrowing and prioritise paying off existing debt. 
  • Structured plan for a debt-free future: Debt Review provides a framework and support to achieve your goal of becoming debt-free and financially stable in the long run.
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Choosing Debt Review

  • This program is best suited for individuals with severe over-indebtedness who need help to meet minimum monthly payments.
  • Carefully weigh all aspects before deciding, including the pros, cons, and potential financial sacrifices.
  • Seek guidance from a reputable debt counsellor who can assess your specific situation and advise if Debt Review is the right option for you, considering both your current financial needs and long-term financial plans.

DebtSafe is here to support your journey. Our team of experienced Debt Counsellors understands your challenges and can guide you through the Debt Review process. We prioritise transparency, ensuring you make informed financial decisions that align with your long-term goals.

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Remember: Taking control of your finances involves commitment. DebtSafe is dedicated to supporting you on your journey towards financial stability and a brighter future. Still, it’s essential to know all the potential consequences of any debt management decision.

A: If your cell phone contract is included in your Debt Review budget you should be able to upgrade.

Make sure the monthly amount is not more than what is provided for in your budget. If the upgrade negatively affects your cash flow, it could have repercussions for your Debt Review. Always make sure that you are able to honour your Debt Review payments.

A: When entering Debt Review, and any credit agreement, it is important to make sure you have sufficient debt cover. This is called Credit Linked or Credit Life Insurance.

Depending on what Credit Linked/Life Insurance you have there should be some form of protection for your debt in the event of retrenchment.

With DebtSafe’s CreditGuard Plan your monthly debt repayments will be covered for a period of 12 months when you get retrenched. Over and above the retrenchment cover the CreditGuard plan also offers Temporary and Permanent Disability cover; cover in the case of death, ID theft and cover when on maternity leave.

Please speak to one of the DebtSafe Debt Counsellors about the benefits of the DebtSafe CreditGuard as well as the process on how to log a claim.

A: It would depend on the type of business. We can only assist you when your business is a sole proprietorship. We won’t be able to assist if your business is a Private Company (PTY) or Closed Corporation (CC) or a Business Trust.

A: As a rule, no. It will be seen as reckless since being in Debt Review means that you are not able to pay your current debt. Therefore, the National Credit Act (NCA) prohibits you from acquiring any further credit while you are in Debt Review. Which makes sense since credit is what caused most of our clients’ debt.

The reason for this is that whilst under Debt Review your budget is calculated and precisely allocated to your current debt obligations and other living expenses.

But once you have successfully completed the DebtSafe program you will be able to apply for credit again.

The exception to the rule is a consolidation loan. Consolidation loans have strict application requirements. A reputable credit provider will do a full assessment in order to determine if you qualify for a consolidation loan while under Debt Review.

A: For the Debt Review (note – a legal) process to be successful, you must adhere to your Debt Review restructured or repayment plan (‘rehab payment’) at all times so that your Debt Review agreement doesn’t get jeopardised.

Debt Review’s primary benefit is the negotiation process offered (with your various creditors on your behalf) to reduce your monthly instalments and interest rates. 

You may ask: ‘What’s the worst thing then that can happen if I don’t pay my monthly Debt Review repayment amount?’

If you fail to make payment in no uncertain terms, you are taking a step back and further away from reaching financial freedom again. Your creditors will have sufficient legal grounds to terminate your Debt Review and commence legal action against you. REMEMBER: The Debt Review process is NOT a payment holiday but instead offers you a lifeline to afford your daily living expenses while also taking care of your debt responsibilities and avoiding repossession of your assets.

**Very important: if your payments are in arrears, no further work will be done on your Debt Review application until payments are 100% up to date.

Rather pay something than nothing. And,  when you find yourself in circumstances where you see you might have trouble paying your upcoming instalment amount, you have to contact one of DebtSafe’s registered Debt Counsellors immediately to re-negotiate and make arrangements with your creditors.

Also, take a look at the policies that you have available. You may not even be aware that you have credit-linked or life insurance that will help pay your debt after unforeseen events, for example, a salary deduction or loss of income, have taken place.

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Did you know?

DebtSafe offers extra benefits for their Debt Review clients. In partnership with CreditGuard Credit Life Insurance, DebtSafe can ensure that your debt gets paid when you can’t. Learn more here

Lastly, before entering into the Debt Review/Debt Counselling/No-loan Debt Consolidation process, you have to be sure that you understand what the process entails and how it works. Always make an informed decision to give yourself and your household or family members a chance at a sound financial future.

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EXTRA INFO about the Debt Review process:

**Alternatively, request a free call-back from one of DebtSafe’s professional representatives to explain all you need to know about Debt Review and the payment procedures involved.

A: No. Debt Collection is when an attorney, a person who is an agent of an attorney or a registered debt collector collects, on behalf of the credit provider, an outstanding amount plus lawful interest, admin costs and collection fees, which by law is capped to certain amounts.

A: If you received a Summons before entering Debt Review we will not be able to include that account in your Debt Review.

However, we can try to convince that creditor to take part in the Debt Review, but ultimately it will stay the creditor’s decision whether or not they want to participate.

A: No, Debt Review is not the same as Sequestration.

What is Sequestration?

Sequestration entails that you, a natural person (as stated by the Insolvency Act), are bankrupt.

You get two types of Sequestration:

  • One – Compulsory Sequestration – when you can’t pay your debts, leading to your creditors applying for your estate to get sequestrated.
  • And two – Voluntary Sequestration – when you willingly apply to the High Court for sequestration/to be declared insolvent.

**For more information and help with the above process, please contact an authorised insolvency lawyer to assist you.

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What the process entails:

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START

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Debt Review

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Free assessment done by a registered Debt Counsellor to confirm over-indebtedness.

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Sequestration

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Application to the High Court for Sequestration/to be declared insolvent.

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What the process entails:

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PAYMENT PLAN

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Debt Review

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Consolidated repayment plan to pay off your debts & a budget to enable you to service your living costs in the process.

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Sequestration

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The court will appoint a trustee to manage your money and distribute the benefits from the sale of (mostly all of your) assets in your estate.

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.gb-container-8156db52{border-bottom-width:1px;border-bottom-style:solid;background-color:#605b5b;}.gb-container-8156db52 > .gb-inside-container{padding:12px 15px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-8156db52 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-8156db52{width:100%;}}
p.gb-headline-62bf7d17{font-size:15px;font-weight:bold;text-align:left;margin-bottom:0px;color:#ffffff;}

What the process entails:

p.gb-headline-e93a6754{font-size:16px;padding:10px;margin-bottom:0px;color:#000000;}

PROTECT ASSETS

.gb-container-998001de{border:1px solid;background-color:#faf4d9;}.gb-container-998001de > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-998001de{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-998001de > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-998001de{width:100%;}}
.gb-container-7fb2e7b9{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-7fb2e7b9 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-7fb2e7b9 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-7fb2e7b9{width:100%;}}
p.gb-headline-ab3bfa99{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-06650901{padding:10px;margin-bottom:0px;}

Protection of your assets (such as a vehicle or house) against your creditors.

.gb-container-ed33992d{border:1px solid;background-color:#faf4d9;}.gb-container-ed33992d > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-ed33992d{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-ed33992d > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-ed33992d{width:100%;}}
.gb-container-a32f5e84{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-a32f5e84 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-a32f5e84 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-a32f5e84{width:100%;}}
p.gb-headline-b630321f{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Sequestration

p.gb-headline-59c60aee{padding:10px;margin-bottom:0em;}

With Sequestration your assets are sold to cover your debt. In order to meet the criteria for Sequestration, you will need to cover 100% of your secured debt (typically a home loan or an instalment sale agreement) and 20% of your unsecured debt (typically personal loans, credit cards and overdrafts) as well as the costs of the Sequestration.

.gb-grid-wrapper-edb9888a{margin-left:-10px;}.gb-grid-wrapper-edb9888a > .gb-grid-column{padding-left:10px;padding-bottom:10px;}
.gb-container-62449570{border:1px solid;background-color:#efe7f9;}.gb-container-62449570 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-62449570{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-62449570 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-62449570{width:100%;}}
.gb-container-dda9aae7{border-bottom-width:1px;border-bottom-style:solid;background-color:#605b5b;}.gb-container-dda9aae7 > .gb-inside-container{padding:12px 15px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-dda9aae7 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-dda9aae7{width:100%;}}
p.gb-headline-94141c0a{font-size:15px;font-weight:bold;text-align:left;margin-bottom:0px;color:#ffffff;}

What the process entails:

p.gb-headline-ea9ac78b{font-size:16px;padding:10px;margin-bottom:0px;color:#000000;}

REACHING THE END OF THE PROCESS & THE WAY FORWARD (TAKING ON DEBT AGAIN)

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.gb-container-d94a84e8{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-d94a84e8 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-d94a84e8 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-d94a84e8{width:100%;}}
p.gb-headline-f27c1afd{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-a5b15968{padding:10px;margin-bottom:0px;}

Clearance Certificate – the proof that you receive indicating that you have paid off all of your debts.
As soon as all paid-up letters have been received, you and the credit bureaus will receive your Clearance Certificate Your Debt Review flag, plus any default listings, need to be removed from your record (according to the National Credit Act) by the credit bureaus.
However, your payment history will still reflect on your credit profile for a period of two years as per the conditions of the National Credit Act (NCA).

.gb-container-284d02d1{border:1px solid;background-color:#efe7f9;}.gb-container-284d02d1 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-284d02d1{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-284d02d1 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-284d02d1{width:100%;}}
.gb-container-9de8e9dd{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-9de8e9dd > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-9de8e9dd > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-9de8e9dd{width:100%;}}
p.gb-headline-1d339b89{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Sequestration

p.gb-headline-01fdabef{padding:10px;margin-bottom:0em;}

You may bring an application to be rehabilitated, usually within 4 years after your date of Sequestration. This entails another court application; however, it is not a complicated one. If no creditors prove claims, you can rehabilitate within 1 year. Note – this is not the norm.
If you do not bring the application, you will automatically rehabilitate after 10 years.
You cannot get credit before your rehabilitation.

.gb-grid-wrapper-8fbdfd3a{margin-left:-10px;}.gb-grid-wrapper-8fbdfd3a > .gb-grid-column{padding-left:10px;padding-bottom:10px;}
.gb-container-ffe4ca22{border:1px solid;background-color:#e3f4f1;}.gb-container-ffe4ca22 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-ffe4ca22{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-ffe4ca22 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-ffe4ca22{width:100%;}}
.gb-container-ae0b4fc3{border-bottom-width:1px;border-bottom-style:solid;background-color:#605b5b;}.gb-container-ae0b4fc3 > .gb-inside-container{padding:12px 15px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-ae0b4fc3 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-ae0b4fc3{width:100%;}}
p.gb-headline-247a5fab{font-weight:bold;text-align:left;margin-bottom:0px;color:#ffffff;}

What the process entails:

p.gb-headline-b3cc5b46{font-size:16px;padding:10px;margin-bottom:0px;color:#000000;}

HOW LONG DOES THIS PROCESS TAKE?

.gb-container-6614292a{border:1px solid;background-color:#e3f4f1;}.gb-container-6614292a > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-6614292a{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-6614292a > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-6614292a{width:100%;}}
.gb-container-96514ef0{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-96514ef0 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-96514ef0 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-96514ef0{width:100%;}}
p.gb-headline-37d45930{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-5faa2006{padding:10px;margin-bottom:0px;}

Debt Review is a rehabilitation and proven program that is personally structured according to your situation and according to the amount of debt that you owe (differs time-wise from person-to-person).
DebtSafe can provide you with a free debt assessment which will provide you with an estimate on how long your specific Debt Review program can/will take. (CTA)

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p.gb-headline-a4bb1c62{text-align:center;padding:10px 10px 15px;margin-bottom:0px;color:#000000;}

DebtSafe can provide you with a free debt assessment which will provide you with an estimate on how long your specific Debt Review program can/will take.

.gb-container-865fbf01{border:1px solid;background-color:#e3f4f1;}.gb-container-865fbf01 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-865fbf01{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-865fbf01 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-865fbf01{width:100%;}}
.gb-container-822fa1ed{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-822fa1ed > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-822fa1ed > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-822fa1ed{width:100%;}}
p.gb-headline-392100cc{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Sequestration

p.gb-headline-245dc235{padding:10px;margin-bottom:0em;}

Sequestration is completed within a 1 – 10 year period, depending on several factors.
The consequence of Sequestration can be far-reaching, depending on your specific situation and circumstances involving your insolvency.

p.gb-headline-5e42f240{font-size:25px;text-align:center;padding-top:30px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

The difference between Debt Review & Sequestration – shortened illustration:

.gb-grid-wrapper-70966978{margin-left:-10px;}.gb-grid-wrapper-70966978 > .gb-grid-column{padding-left:10px;padding-bottom:10px;}
.gb-container-3e65e896{border:1px solid;background-color:#f5f5f5;}.gb-container-3e65e896 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-3e65e896{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-3e65e896 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-3e65e896{width:100%;}}
.gb-container-c1ed917f{border-bottom-width:1px;border-bottom-style:solid;background-color:#faf4d9;color:#000000;}.gb-container-c1ed917f > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-c1ed917f > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-c1ed917f{width:100%;}}
p.gb-headline-f14fe997{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;}

Difference

p.gb-headline-b2a6c04e{font-size:15px;text-align:center;padding:10px;margin-bottom:0em;color:#000000;}

Debt relief method / debt management solution

.gb-container-dff3a48c{border:1px solid;background-color:#f5f5f5;}.gb-container-dff3a48c > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-dff3a48c{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-dff3a48c > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-dff3a48c{width:50%;}}
.gb-container-12302e73{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-12302e73 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-12302e73 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-12302e73{width:100%;}}
p.gb-headline-619666dd{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-f45eb346{font-size:40px;text-align:center;margin-bottom:0px;color:#44a24b;}

.gb-container-ffb013a4{border:1px solid;background-color:#f5f5f5;}.gb-container-ffb013a4 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-ffb013a4{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-ffb013a4 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-ffb013a4{width:50%;}}
.gb-container-55677acc{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-55677acc > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-55677acc > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-55677acc{width:100%;}}
p.gb-headline-c2254ed5{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Sequestration

p.gb-headline-507d26ab{font-size:40px;text-align:center;margin-bottom:0px;color:#44a24b;}

.gb-grid-wrapper-c3829fb9{margin-left:-10px;}.gb-grid-wrapper-c3829fb9 > .gb-grid-column{padding-left:10px;padding-bottom:10px;}
.gb-container-c286cda2{border:1px solid;background-color:#f5f5f5;}.gb-container-c286cda2 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-c286cda2{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-c286cda2 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-c286cda2{width:100%;}}
.gb-container-1a691dff{border-bottom-width:1px;border-bottom-style:solid;background-color:#faf4d9;color:#000000;}.gb-container-1a691dff > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-1a691dff > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-1a691dff{width:100%;}}
p.gb-headline-a19251c3{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;}

Difference

p.gb-headline-43590418{font-size:15px;text-align:center;padding:10px;margin-bottom:0em;color:#000000;}

Regulated process

.gb-container-81017f99{border:1px solid;background-color:#f5f5f5;}.gb-container-81017f99 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-81017f99{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-81017f99 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-81017f99{width:50%;}}
.gb-container-bedc5c09{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-bedc5c09 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-bedc5c09 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-bedc5c09{width:100%;}}
p.gb-headline-079e3b4a{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-44cce1b7{font-size:40px;text-align:center;margin-bottom:0px;color:#44a24b;}

p.gb-headline-c76cef6c{text-align:center;padding:10px;margin-bottom:0px;}

Regulated by the National Credit Regulator (NCR) – the governing body of the credit industry under the National Credit Act (NCA)

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.gb-container-689325d5{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-689325d5 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-689325d5 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-689325d5{width:100%;}}
p.gb-headline-8aa0bb3a{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Sequestration

p.gb-headline-0a366f7c{font-size:40px;text-align:center;margin-bottom:0px;color:#44a24b;}

p.gb-headline-a2b3b2ee{text-align:center;padding:10px;margin-bottom:0px;}

The process is regulated by the Insolvency Act

.gb-grid-wrapper-e3d1fb28{margin-left:-10px;}.gb-grid-wrapper-e3d1fb28 > .gb-grid-column{padding-left:10px;padding-bottom:10px;}
.gb-container-0a880c9f{border:1px solid;background-color:#f5f5f5;}.gb-container-0a880c9f > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-0a880c9f{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-0a880c9f > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-0a880c9f{width:100%;}}
.gb-container-dd16c1a0{border-bottom-width:1px;border-bottom-style:solid;background-color:#faf4d9;color:#000000;}.gb-container-dd16c1a0 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-dd16c1a0 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-dd16c1a0{width:100%;}}
p.gb-headline-993f09b6{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;}

Difference

p.gb-headline-3d8a3184{font-size:15px;text-align:center;padding:10px;margin-bottom:0em;color:#000000;}

Losing your assets during the process

.gb-container-e20cb002{border:1px solid;background-color:#f5f5f5;}.gb-container-e20cb002 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-e20cb002{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-e20cb002 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-e20cb002{width:50%;}}
.gb-container-df0c3684{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-df0c3684 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-df0c3684 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-df0c3684{width:100%;}}
p.gb-headline-75580743{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-0a196e87{font-size:40px;text-align:center;margin-bottom:0px;color:#ab4326;}

.gb-container-57461314{border:1px solid;background-color:#f5f5f5;}.gb-container-57461314 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-57461314{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-57461314 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-57461314{width:50%;}}
.gb-container-93b4f08c{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-93b4f08c > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-93b4f08c > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-93b4f08c{width:100%;}}
p.gb-headline-a4a101fa{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Sequestration

p.gb-headline-e71ee6e5{font-size:40px;text-align:center;margin-bottom:0px;color:#44a24b;}

.gb-grid-wrapper-4f380f30{margin-left:-10px;}.gb-grid-wrapper-4f380f30 > .gb-grid-column{padding-left:10px;padding-bottom:10px;}
.gb-container-d3456a5d{border:1px solid;background-color:#f5f5f5;}.gb-container-d3456a5d > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-d3456a5d{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-d3456a5d > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-d3456a5d{width:100%;}}
.gb-container-ddc68713{border-bottom-width:1px;border-bottom-style:solid;background-color:#faf4d9;color:#000000;}.gb-container-ddc68713 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-ddc68713 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-ddc68713{width:100%;}}
p.gb-headline-7f653289{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;}

Difference

p.gb-headline-f16903e9{font-size:15px;text-align:center;padding:10px;margin-bottom:0em;color:#000000;}

You get the opportunity to pay off all of your creditors

.gb-container-e8350df3{border:1px solid;background-color:#f5f5f5;}.gb-container-e8350df3 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-e8350df3{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-e8350df3 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-e8350df3{width:50%;}}
.gb-container-fef0d369{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-fef0d369 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-fef0d369 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-fef0d369{width:100%;}}
p.gb-headline-554a25ab{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-9ebfe08f{font-size:40px;text-align:center;margin-bottom:0px;color:#44a24b;}

.gb-container-736053ec{border:1px solid;background-color:#f5f5f5;}.gb-container-736053ec > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-736053ec{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-736053ec > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-736053ec{width:50%;}}
.gb-container-4e0c0984{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-4e0c0984 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-4e0c0984 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-4e0c0984{width:100%;}}
p.gb-headline-07fd4277{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Sequestration

p.gb-headline-4b845425{font-size:40px;text-align:center;margin-bottom:0px;color:#ab4326;}

.gb-grid-wrapper-24f1e9bf{margin-left:-10px;}.gb-grid-wrapper-24f1e9bf > .gb-grid-column{padding-left:10px;padding-bottom:10px;}
.gb-container-303d345c{border:1px solid;background-color:#f5f5f5;}.gb-container-303d345c > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-303d345c{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-303d345c > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-303d345c{width:100%;}}
.gb-container-d52ac712{border-bottom-width:1px;border-bottom-style:solid;background-color:#faf4d9;color:#000000;}.gb-container-d52ac712 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-d52ac712 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-d52ac712{width:100%;}}
p.gb-headline-95e10a7d{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;}

Difference

p.gb-headline-c6c0b733{font-size:15px;text-align:center;padding:10px;margin-bottom:0em;color:#000000;}

Hefty legal fees

.gb-container-ad1eba1e{border:1px solid;background-color:#f5f5f5;}.gb-container-ad1eba1e > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-ad1eba1e{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-ad1eba1e > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-ad1eba1e{width:50%;}}
.gb-container-4d2fc8a4{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-4d2fc8a4 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-4d2fc8a4 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-4d2fc8a4{width:100%;}}
p.gb-headline-9f5588c3{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-e1dc7a7f{font-size:40px;text-align:center;margin-bottom:0px;color:#ab4326;}

.gb-container-266477a3{border:1px solid;background-color:#f5f5f5;}.gb-container-266477a3 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-266477a3{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-266477a3 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-266477a3{width:50%;}}
.gb-container-79f94cd8{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-79f94cd8 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-79f94cd8 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-79f94cd8{width:100%;}}
p.gb-headline-b598ab11{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Sequestration

p.gb-headline-a42faa55{font-size:40px;text-align:center;margin-bottom:0px;color:#44a24b;}

.gb-grid-wrapper-13eade79{margin-left:-10px;}.gb-grid-wrapper-13eade79 > .gb-grid-column{padding-left:10px;padding-bottom:10px;}
.gb-container-8c2c3db5{border:1px solid;background-color:#f5f5f5;}.gb-container-8c2c3db5 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-8c2c3db5{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-8c2c3db5 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-8c2c3db5{width:100%;}}
.gb-container-087aa978{border-bottom-width:1px;border-bottom-style:solid;background-color:#faf4d9;color:#000000;}.gb-container-087aa978 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-087aa978 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-087aa978{width:100%;}}
p.gb-headline-5e329b92{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;}

Difference

p.gb-headline-2d3b5230{font-size:15px;text-align:center;padding:10px;margin-bottom:0em;color:#000000;}

Process duration

.gb-container-88b03551{border:1px solid;background-color:#f5f5f5;}.gb-container-88b03551 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-88b03551{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-88b03551 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-88b03551{width:50%;}}
.gb-container-82ef7ca6{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-82ef7ca6 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-82ef7ca6 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-82ef7ca6{width:100%;}}
p.gb-headline-9e39358f{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-8f344f72{text-align:center;padding:10px;margin-bottom:0px;}

Depends on your personal circumstances

.gb-container-2fd456d7{border:1px solid;background-color:#f5f5f5;}.gb-container-2fd456d7 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-2fd456d7{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-2fd456d7 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-2fd456d7{width:50%;}}
.gb-container-dfda2c17{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-dfda2c17 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-dfda2c17 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-dfda2c17{width:100%;}}
p.gb-headline-005caafe{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Sequestration

p.gb-headline-03c3a06a{text-align:center;padding:10px;margin-bottom:0px;}

1 – 10 years depending on your personal circumstances

.gb-grid-wrapper-192d9c8f{margin-left:-10px;}.gb-grid-wrapper-192d9c8f > .gb-grid-column{padding-left:10px;padding-bottom:10px;}
.gb-container-063a0a99{border:1px solid;background-color:#f5f5f5;}.gb-container-063a0a99 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-063a0a99{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-063a0a99 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-063a0a99{width:100%;}}
.gb-container-9a6a86a4{border-bottom-width:1px;border-bottom-style:solid;background-color:#faf4d9;color:#000000;}.gb-container-9a6a86a4 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-9a6a86a4 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-9a6a86a4{width:100%;}}
p.gb-headline-157a130d{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;}

Difference

p.gb-headline-20eaf4da{font-size:15px;text-align:center;padding:10px;margin-bottom:0em;color:#000000;}

After the process, your salary is yours

.gb-container-5db7ae86{border:1px solid;background-color:#f5f5f5;}.gb-container-5db7ae86 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-5db7ae86{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-5db7ae86 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-5db7ae86{width:50%;}}
.gb-container-7608e1c2{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-7608e1c2 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-7608e1c2 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-7608e1c2{width:100%;}}
p.gb-headline-934c6cce{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-9e520325{font-size:40px;text-align:center;margin-bottom:0px;color:#44a24b;}

.gb-container-1a8e4863{border:1px solid;background-color:#f5f5f5;}.gb-container-1a8e4863 > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-1a8e4863{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-1a8e4863 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-1a8e4863{width:50%;}}
.gb-container-aa2993d2{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-aa2993d2 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-aa2993d2 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-aa2993d2{width:100%;}}
p.gb-headline-125c9549{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Sequestration

p.gb-headline-2c4c5033{font-size:40px;text-align:center;margin-bottom:0px;color:#44a24b;}

.gb-grid-wrapper-977d44d8{margin-left:-10px;}.gb-grid-wrapper-977d44d8 > .gb-grid-column{padding-left:10px;padding-bottom:10px;}
.gb-container-413b656f{border:1px solid;background-color:#f5f5f5;}.gb-container-413b656f > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-413b656f{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-413b656f > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-413b656f{width:100%;}}
.gb-container-b1d518d8{border-bottom-width:1px;border-bottom-style:solid;background-color:#faf4d9;color:#000000;}.gb-container-b1d518d8 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-b1d518d8 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-b1d518d8{width:100%;}}
p.gb-headline-40d6b4bb{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;}

Difference

p.gb-headline-3506a679{font-size:15px;text-align:center;padding:10px;margin-bottom:0em;color:#000000;}

You can take on new debt after the program

.gb-container-9647fbdb{border:1px solid;background-color:#f5f5f5;}.gb-container-9647fbdb > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-9647fbdb{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-9647fbdb > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-9647fbdb{width:50%;}}
.gb-container-38f66996{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-38f66996 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-38f66996 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-38f66996{width:100%;}}
p.gb-headline-55f6af60{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-1622f809{font-size:40px;text-align:center;margin-bottom:0px;color:#44a24b;}

.gb-container-388b8a3a{border:1px solid;background-color:#f5f5f5;}.gb-container-388b8a3a > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-388b8a3a{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-388b8a3a > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-388b8a3a{width:50%;}}
.gb-container-8447ab8e{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-8447ab8e > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-8447ab8e > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-8447ab8e{width:100%;}}
p.gb-headline-6b5c5ccf{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Sequestration

p.gb-headline-e4c0c4bc{font-size:40px;text-align:center;margin-bottom:0px;color:#44a24b;}

.gb-grid-wrapper-75ef40d7{margin-left:-10px;}.gb-grid-wrapper-75ef40d7 > .gb-grid-column{padding-left:10px;padding-bottom:10px;}
.gb-container-f2b018bf{border:1px solid;background-color:#f5f5f5;}.gb-container-f2b018bf > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-f2b018bf{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-f2b018bf > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-f2b018bf{width:100%;}}
.gb-container-2a864447{border-bottom-width:1px;border-bottom-style:solid;background-color:#faf4d9;color:#000000;}.gb-container-2a864447 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-2a864447 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-2a864447{width:100%;}}
p.gb-headline-7ee80564{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;}

Difference

p.gb-headline-2140590e{font-size:15px;text-align:center;padding:10px;margin-bottom:0em;color:#000000;}

Average % of debt paid off

.gb-container-fd9148ed{border:1px solid;background-color:#f5f5f5;}.gb-container-fd9148ed > .gb-inside-container{padding:0;}.gb-grid-wrapper > .gb-grid-column-fd9148ed{width:33.33%;}.gb-grid-wrapper > .gb-grid-column-fd9148ed > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-fd9148ed{width:50%;}}
.gb-container-ddc5e026{border-bottom-width:1px;border-bottom-style:solid;background-color:#ffffff;}.gb-container-ddc5e026 > .gb-inside-container{padding:10px;max-width:1100px;margin-left:auto;margin-right:auto;}.gb-grid-wrapper > .gb-grid-column-ddc5e026 > .gb-container{display:flex;flex-direction:column;height:100%;}@media (max-width: 767px) {.gb-grid-wrapper > .gb-grid-column-ddc5e026{width:100%;}}
p.gb-headline-6c69eb80{font-size:18px;font-weight:bold;text-align:center;padding-top:10px;padding-bottom:10px;margin-bottom:0px;color:#000000;}

Debt Review

p.gb-headline-c4c8740b{text-align:center;padding:10px;margin-bottom:0px;}

100% plus interest.

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Sequestration

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100% of secured debt, 20% of unsecured debt.

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A: No. Administration only pays your creditors every third month, the rest of the payments go towards admin fees and commissions. Plus, Administration is only for a debt of R 50 000 or less.

Lastly, Administration exclusively deals with unsecured debt. So, your secured debt, like a home loan or car loan is not included.

A: Our program is created by South Africa’s National Credit Act. Therefore, the only way we can assist non-citizens with their debt is:

  • if you have a passport number,
  • can prove that you are permanently working in South Africa, and
  • your debt is with South African creditors.

A: Unfortunately, we do not.

To be able to qualify for Debt Review/Debt Consolidation/Debt Counselling you must be employed or receive regular and consistent income. No creditor will accept a non-payment as a viable option during our negotiations with them.

If you are unemployed you can, however, negotiate with your creditors directly to see if they can offer you some sort of breathing space for a few months. Pay them as far as you can and do not stop looking for employment. If too much time passes and you still do not have employment, they will Summons you. You will then be able to explain to the court that you are unemployed, and you can ask the court to give you 3-6 months to find a job. Do not stay away and ignore the Summons. Show up at the court and state your case.

A: If you are unhappy with the service your Debt Counsellor is providing, or not providing, you have the option to change and transfer to a Debt Counsellor of your choice.

A: The process of cancelling/withdrawing from Debt Review is a complex one and we will always suggest that you talk to your Debt Counsellor before making the decision. Here is what you need to know about exiting Debt Review before completing the program:

Your Debt Review will stay listed on your credit record until a Clearance Certificate is issued. You can only receive a Clearance Certificate when:

    1. All debts are paid in full, or.
    2. When all short-term credit agreements, including car finance, have been paid up and you are only left with a home loan which is not in arrears in terms of the Debt Counselling Re-Arrangement Order – plus, you must be able to pay your original home loan instalment, or
      You can withdraw from Debt Review prior to a Form 17.2 (prior to being declared over-indebted according to the National Credit Act).

But once the Form 17.2 is issued you will need to approach a Court and get them to rescind your over-indebtedness so that you can be declared as NOT over-indebted. Only when your Debt Counsellor receives this Court Order stating that you are no longer over-indebted will they be allowed to remove the Debt Review listing from your name.

A: The Debt Review program is structured according to your marriage contract.

Married in community of property (married COP)

The application to the program will be a joint one and all the debt will be thrown into one pool since the law sees you as one estate.

Your income will also be joined in the calculations and the payment of all your debt will be joint into one single instalment. Both will be placed under Debt Review in a joint application.

Married out of community of property (married ANC)

When you are married out of community of property both parties do not have to go under Debt Review.

If, however, there are debts which both signed for and are therefore both responsible for, then both will have to apply for Debt Review. No account may be excluded from the program.

Marrying someone in Debt Review

When marrying someone already in Debt Review it would depend on your marriage contract.

If you are married in community of property (married COP) you will then also need to apply for Debt Review.

If you are married out of community of property (married ANC) then you will not be obligated to apply for Debt Review.

Divorce and Debt Review

If you already have your Debt Review Court Order that Court Order will have to be rescinded if you were married in community of property (COP) or in the case of a joint Debt Review application. Then you will need to re-apply for a new Debt Review program with a new debt profile and repayment plan separate from your ex-spouse or partner.

If your Debt Review Court Order has not been granted yet you will also need to re-apply if you were married in community of property (COP) or in the event of a joint application. Your new application will be separate from your ex-spouse or partner and based on your personal debt profile.


Contact us for a free, no-obligation, quote.