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What Is a Debt Counsellor and How Do I Acquire a Debt Counsellor

Questions & AnswersCategory: Credit ApplicationWhat Is a Debt Counsellor and How Do I Acquire a Debt Counsellor
Leesha asked 1 year ago

What is a debt counsellors and what are the requirements to acquire one . What are the responsibilities of a debt counsellor 

1 Answers
Carien Kruger Staff answered 1 year ago

Good day,

Thank you for your question.

A Debt Counsellor is a person who is registered with the National Credit Regulator as a qualified Debt Counsellor. With their intricate knowledge of the Debt Counselling/Debt Review process, they facilitate the whole process from start to finish.

How the process works:

Debt review is the program 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 program legally protects you, and your assets, against creditors who want to take legal action against you.

Once your debt review program is successfully completed you will receive a clearance certificate. This is sent to your creditors and the credit bureaus – they are then required by law to remove all the info on your credit report about your debt and the debt review program. Meaning your credit record is fully restored.

If you would like more information regarding debt review or request a free debt evaluation (no obligation required), you are welcome to fill out our contact form on this page. Once submitted our contact centre will get in touch with you soonest.

Have a great day.