What is debt counselling?

Debt counselling is a process of assisting consumers that are experiencing debt related problems through:

• Budget advice;
• Restructuring payments;
• Negotiating with credit providers on your behalf;
• Monitoring your payments, and
• Providing after-care services

Debt counselling is done by a debt counsellor. This is someone who is registered with the National Credit Regulator (NCR) and who assists consumers who are experiencing debt-related problems and are having difficulty making their current monthly payments by providing them with budget advice, support and mediation with credit providers.

How does it work?

Debt counselors can work independently or as part of an organisation. In terms of the Act, debt counselors cannot be part of organisations that provide credit, debt collection agencies or credit bureaus.

A consumer who is over-indebted may approach a debt counselor directly, or he/she may be referred to a debt counsellor by his/her creditor/s or by the magistrate court.

How much does it cost?

Costs are fixed by the NCR and will be discussed at a later state. All costs will be included in your monthly payment.