Why Debt Review?
The debt counselling process is a powerful process introduced by the National Credit Act to help over–indebted consumers. The main purpose of the act is to help you, the consumer. This process also provides immediate protection against legal action and blacklisting.
Our debt counsellors are friendly & fully trained and they are also registered with the NCR. This makes sure that you are protected.
When can I apply for Debt Review?
Any consumer who is over-indebted can apply to be put under debt review. According to the National Credit Act (NCR), a consumer is over-indebted when he or she is unable to satisfy month for month all his or her obligations under their credit agreements, after they have paid their basic costs for living.
In short we can say that when you struggle to meet all your debt repayments on time; or
if you do not have enough money left for basic living expenses after you have paid your debt; or if you do not have money left to pay your debt after you have paid for basic living costs. Then you might consider applying for debt review.
You can apply whether you are
- Black listed or not; or
- If you are in arrears, or not.
Typical signs of over-indebtedness include the following:
- You start receiving threats because you are in arrears on installments. i.e. letters and notices, phone calls from creditors.
- When you borrow on a regular basis from micro-lenders or cash loans companies.
- When you have garnishee orders against your salary.
- When you start using your credit card to buy groceries, or to pay other basic living costs, as well as debts and installments.
Can I apply for Debt Review if I am unemployed?
One of the most important requirements for someone to be accepted into the debt review programme, is being able to prove that you can pay your creditors a reasonable amount every month. If you do not have a monthly income, you unfortunately cannot go under debt review. But, if your spouse is employed, you could apply jointly, under one application.
What if I already have judgements against me?
If you already have any judgements against you, you can still contact us. Please however ensure that you provide us with all the details of your situation, however unimportant you seem any to be.
If a summons or a legal notice in terms of section 12a of the National Credit Act (NCA) was issued before you applied for debt review, it cannot be included except if prior written permission was granted by the credit provider. If that is not the case, that account will be excluded from the process. Negotiations in this regard will be done on your behalf by DebtSafe.
The legal process starts when a notice in terms of section 12a of the NCA has been sent to you via registered mail.
I’ve been summoned to appear in court, does debt counselling cover this?
No, it does not. But most attorneys and creditors will respond to the debt review programme favourably and will agree to have this included in your debt review. You can therefore still contact us. We will negotiate with the creditor on your behalf and Debtsafe will find the best possible solution for you.
Contact us if your query is related to home loans and vehicle finance, as these queries are a bit trickier.
Can I apply for more credit or use my credit cards while I am under Debt Review?
No, you cannot. Unfortunately, the National Credit Act prohibits you from incurring any further credit while you are under debt review. You will have to cut up all your store charge cards and you will not be able to use your credit card.
As read in Section 88(1) (of the National Credit Act): “A consumer who has filed an application in terms of Section 86(1) for debt review must not incur any further charges under a credit facility or enter into any further credit agreement”.
Is my money safe?
Yes, absolutely. At no stage during the debt review process do we (or anybody else) have access to your money. Your money is paid directly to the NCR accredited Public Distribution Agent (PDA), who in turn distributes the funds to your creditors.
Our fees are only paid out as disclosed in our documentation.
Can the credit providers change their mind after the debt plan has been agreed?
No, they cannot. As long as you maintain your obligations to the credit providers by making your monthly re-payments according to your personal payment plan; they are not able to take further legal action against you.
Will my employer and work colleagues find out?
No, they will not. All your information is treated with the utmost of respect and this means complete confidentiality. We will not contact your place of work unless instructed to do so by you.
Once I’ve repaid all my debt, will my name be removed from the national credit bureau?
Yes, your name will be removed and your debt is cleared.
If all your questions hasn’t been answered, feel free to fill in the form on the top right, and one of our friendly agents will call you back. You can also call us directly at: