If I am in financial difficulty, should I get a debt consolidation loan?
In theory, a loan that consolidates all of your debt into a single monthly repayment sounds attractive, but this option seldom offers a lot of
What are the negatives of Debt Review?
One of the biggest benefits of Debt Review, or Debt Counselling, is that all of your assets are legally protected from repossession, bringing you unimaginable
Does Debt Counselling affect my Credit Score?
While you are under Debt Review, you will be listed as such with the credit bureaus, meaning that you will not be able to apply
How long does Debt Review stay on my name?
Your name will only be connected to Debt Review for as long as you are undergoing Debt Counselling. Once you have completed the process and
Once under Debt Review, can a person simply exit the program before settling their debts?
No, a person can only exit Debt Counselling by paying off all their debt obligations and obtaining a clearance certificate. This can be achieved if
Can I apply for Debt Counselling without the consent of my spouse?
People married in community of property (COP) cannot apply for Debt Counselling without consent from their spouse. Only people married out of community of property
Is Debt Consolidation better than Debt Review?
Many people consider Debt Consolidation loans as a solution to their financial difficulties. While this solution may simplify and even reduce repayments, this strategy lacks
If a person feels like they have been put under Debt Review without their consent, what should they do?
In this case, a person should contact the National Credit Regulator to lodge a complaint. The NCR will investigate the matter – info@ncr.org.za
If under Debt Review, and a person experiences a change in circumstances (eg: temporary loss of income, salary reduction, retrenchment of a partner etc.) can they get assistance from their credit providers regarding the change affecting their monthly budget?
The Debt Counsellor must follow the guidelines issued by the National Credit Regulator regarding Change in Circumstances. In this process, the Debt Counsellor negotiates new
Is Debt Review good or bad?
If you are in financial difficulty, then Debt Review (also known as Debt Counselling) is a very good thing. The Debt Review process has countless