Debt Solutions in South Africa
With more and more people starting to feel the pinch of junk status, with the increase in the petrol price starting to take effect, people are looking at what type of debt solutions are out there in South Africa?
Basically, it can be summarized as 2 options. There are quite a few other options, but we will just be looking at these 2 options.
Debt Consolidation
With debt consolidation, you will basically apply for a loan or better known As debt consolidation loan. Once approved your outstanding creditors will be paid in full and you will only have to pay the 1 instalment on your loan.
Debt Review
Debt review is a process that is managed by the NCR (National Credit Regulator), whereby you can apply for debt review and the debt counsellor will on your behalf contact the creditors and re-negotiate your debt payments.
Benefits of debt review include:
1 fixed monthly payment
Creditors – No more calls
No Blacklisting
We are able to assist you with your debt review application, so be sure to contact us and we will guide you through the application process.