Faq

WILL THERE BE PERMANENT RECORD OF HAVING APPLIED FOR DEBT REVIEW?

When consumers apply for debt review, their profiles are flagged by credit bureaus. After settling their debts, a clearance certificate is issued, and the debt review flag is removed within a month. There is no permanent record of debt counselling, allowing consumers to obtain new credit and build a good credit score. It is not […]

HOW LONG WILL I STAY ON DEBT REVIEW?

This is one of the top questions I get asked daily during consultations: “How long will I stay on debt review?” It’s the most frequently asked question, and the best answer I can give is that it depends on two factors. The two factors are the total outstanding debt and the monthly contribution amount you’ll […]

CAN I APPLY FOR MORE CREDIT WHILE UNDER DEBT REVIEW?

According to section 88(1) of the National Credit Act (NCA) 34 of 2005, you shouldn’t incur any new charges under a credit facility while you’re under debt review. When you apply for debt review, your profile is flagged to show that you’re under debt review. This means that if you apply for new credit, the […]

WHAT HAPPENS IF I MISS MY MONTHLY REPAYMENTS?

If you miss a monthly payment, credit providers may terminate your debt repayment plan and initiate legal proceedings. To prevent this, it’s crucial to disclose your complete financial situation to us. This way, we can create a more affordable and manageable debt repayment plan tailored to your needs. If there are any changes in your […]

WHEN IS MY FIRST PAYMENT DUE?

Generally, your first payment under the debt review process is due within the first month following the finalization of your repayment plan. This means you should expect to make your first payment within 30 days of enrolling in debt review. Our highly trained team of registered debt counsellors will be able to assist you with […]

HOW DO YOU DETERMINE WHAT MY MONTHLY PAYMENT WILL BE?

We’ll take a close look at your monthly income and living expenses to understand your financial situation. Based on this, we’ll recommend an amount that you can comfortably afford to pay each month. One of our friendly consultants will walk you through your budget and help you figure out your monthly payment.

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