Debt Counselling & Debt Review

A structured way to deal with debt you can no longer manage alone.

Debt review is a formal process under the National Credit Act for consumers who are over-indebted. A registered debt counsellor assesses your financial position and, where appropriate, develops a proposal to rearrange repayments so that your essential living expenses and credit obligations can be considered together.

Debt review may be worth assessing if…

Your monthly debt repayments leave too little for essential household expenses.
You use one account or loan to pay another.
You are falling behind, receiving collection calls or missing instalments.
Your income has reduced or your expenses have increased significantly.
You have several credit agreements and cannot see a realistic way to catch up.

What debt review does-and does not do

It may: Provide a structured affordability assessment; allow a repayment proposal to be developed; combine the consumer’s debt obligations into a coordinated payment arrangement through the applicable process; and provide statutory protection in qualifying circumstances while the consumer complies with the process.

It does not: Erase debt, guarantee that every creditor will accept a proposal, automatically stop legal action that began before the application, or guarantee that an asset can never be repossessed. It also generally prevents a consumer from taking new credit while the debt-review status remains active.

What debt review does-and does not do

Step 1

Initial consultation

We discuss your income, household expenses, accounts and immediate concerns.

Step 2

Application & documents

If you choose to apply, we collect the required information and supporting documents.

Step 3

Financial assessment

A registered debt counsellor considers over-indebtedness and an affordable budget.

Step 4

Notices & account information

Credit providers and credit bureaux are notified, and account information is obtained.

Step 5

Repayment proposal

A proposed rearrangement is prepared and taken through the required consent, tribunal or court process.

Step 6

Payments & ongoing support

Make the agreed payment through the approved channel and contact us if your circumstances change.

Step 7

Completion & clearance

Once the legal requirements are satisfied, a clearance certificate may be issued and the relevant parties notified.

A brighter financial future

GIVE US A CALL:

071 713 7064