When you apply for debt review, all debts with signed credit agreements between you and your credit providers will be included. The following debts will be covered under debt review: Home loans Vehicle finance Credit cards Retail/store cards Overdrafts Personal loans Micro-loans However, we will exclude rent-to-buy agreements, loans from loan sharks, doctors’ fees, and […]

According to Section 70 of the National Credit Act (NCA), a credit bureau is an organization that collects, compiles, and reports consumer credit information from credit providers for credit scoring or assessment purposes. What Does a Credit Bureau Do? When you apply for credit, the credit provider will request your credit information from a credit […]

If a consumer under debt review comes into money and wants to pay off their debt, there are no penalties for early settlement. In fact, they are eligible for discounts, similar to other consumers. It is more beneficial for the consumer to directly contact credit providers for settlement balances, as they tend to receive larger […]

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 […]

You can apply for debt review or debt counselling if you find yourself in any of these situations: Your accounts are 2-3 months or more in arrears. You’re struggling to pay your monthly instalments and feel unsure about what to do. You’ve received final demand letters from credit providers (Section 129) or lawyers. You’re getting […]

The National Credit Regulator (NCR) is an independent entity established by the National Credit Act (NCA) 34 of 2005 to regulate the credit industry. What Does the NCR Do? The NCR is responsible for: Registering and deregistering credit providers, credit bureaus, debt counsellors, and payment distribution agencies. Ensuring compliance with the National Credit Act (NCA) […]

Debt review is a formal legal process designed to help over-indebted consumers who are struggling to meet their monthly debt obligations. A debt counsellor will create a new, affordable monthly budget and payment plan, giving you a clear picture of your household spending versus your income, and a detailed plan on how to pay off […]

We’ve received many questions from our clients under debt review about this topic. You might have wondered about it too and need some answers. The balances on the statements issued by your debt counsellor, which come from the Payments Distribution Agency (PDA), are just estimates. First, the account information your debt counsellor (DC) enters into […]

The National Credit Act (NCA) of 2005 introduced debt counselling to help consumers struggling with debt. At Simunye Debt Advisory, we’ve helped many people become debt-free through debt counselling. When you’re deep in debt, the benefits of debt review often outweigh the drawbacks. Let’s explore the advantages of debt counselling. What Are the Advantages of […]

A debt review clearance certificate is a document that confirms you’ve paid off all the debts included in your debt review court order or repayment agreement. Getting this certificate marks the successful completion of your debt review process. Even if you have a long-term agreement like a mortgage, you can still get a clearance certificate […]