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Fees

Anonymous asked 2 years ago

How much debt counsellor fee is the norm to charge? I have seen places charge R6000 for counsellor fee and R6000 for attorneys. How does this help the person already not coping with his/her debt?

1 Answers
Matthys Potgieter Staff answered 2 years ago

Hi there,

Thank you for getting in touch.
 
There are no up-front fees because our fees are paid from your instalments and are built into your restructured payment plan. The fees are set by the National Credit Regulator and are the same for all debt counsellors. There are three types of fees; debt counselling fee, legal fee and an aftercare fee.
 
The debt counsellor fee is subject to the maximum amount of R6,000 (excl. VAT), so it will depend on the amount of debt you owe. The same goes for the legal fee, it is a maximum of R6,000 (excl. VAT) plus R150 (excl. VAT) per creditor. So your fees should be smaller, but will never exceed the above mentioned.
 
Since each client’s fee will differ (everyone has a different debt situation) we can gladly provide you with a free debt evaluation (no obligation required). This will give you a better idea of what your specific fee structure will look like – simply fill out our call back form on this page and a DebtSafe team member will be in touch soonest to complete your free debt evaluation.
 
Keep in mind that the fee is equal to the first month’s instalment with the R6000 cap. If your instalment is less than R6000, your DC is not allowed to charge you R6000. Each attorney has their own fee structure. The attorneys are not regulated by the NCR and can basically charge whatever they see fit.
 
You best bet would be to approach a debt counsellor which offers you the best value for money. Simply because all of them charge more or less the same fee, your differentiator would be the value you get from them through the level of service and value added benefits.
 
Have a great day.