Thank you for your question.
We help over-indebted South Africans through a program called debt review. Debt review is not a consolidation loan.
With consolidation loans you only shift your debt from one place to another. Most people will not qualify for a consolidation loan.
Unlike consolidation loans, which have very strict requirements (and at the end leaves you with more debt) debt review restructures your credit obligations to an affordable, consolidated, repayment plan.
How debt review works:
Debt review is the process that reworks your debt payments into an affordable, consolidated repayment plan. Your repayment plan is formulated in such a way that it enables you to pay for essential living costs, giving you immediate breathing space. Your repayment plan is agreed upon by your creditors (we negotiate with them on your behalf), regulated by the National Credit Act and authorised through a court order. This means that the debt review process legally protects you, and your assets, against creditors who want to take legal action against you. Once your debt review process is completed you will receive a clearance certificate. Meaning your financial slate is wiped clean, your debt worries are in the past, and you can start living your new beginning.
For more information about debt review you are welcome to fill in our online contact form here.
Once submitted our contact centre will be in touch with you shortly to discuss your options.
Have a great day.