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Debt Counselling

Introduced by the National Credit Act in June 2007, this formal process allows indebted individuals to enter into a debt repayment programme with their creditors. By registering with a debt counsellor you are acknowledging that you are over-indebted and are willing to adapt your lifestyle where necessary to become debt free. This is not filing for bankruptcy.

The process allows clients to enter into a debt repayment plan, drawn up by a registered Debt Counsellor, with their creditors and emerge debt free after a period of time.

Should you apply for debt counselling?

  • Are you being hounded by creditors?
  • Struggling to make your monthly debt repayments?
  • Would like to avoid bankruptcy?
  • Want to be debt free?

Do you qualify for debt counselling?

  1. 1
    The technical definition of being over-indebted according to the NCR is ‘if taking all financial circumstances into consideration, a client is deemed to be unable to repay their debts.’
  2. 2
    The candidate must be employed and earning a monthly income.