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House Buying

Questions & AnswersHouse Buying
Anonymous asked 2 years ago

Can I still buy a house whilst I am under debt counselling?  I have been paying for a few years without any non-payments or late payments.

1 Answers
Wikus Olivier Staff answered 2 years ago

Hi there,
 
Thank you for your question.
 
Unfortunately, the National Credit Act prohibits you from incurring any further credit while you are under debt review.  Which makes sense since credit is what caused most of our clients’ debt. 
 
We always advise our clients to rather work on paying off their debt faster. Pay a little extra on some accounts. Focus on the smaller amounts and start settling them one by one.
 
Once our clients receive their clearance certificates and have the means to afford a new credit instalment they are free to apply for a home loan.  
 
Kind regards