Do I need Debt Counselling?

The burning question: Do I need debt counselling?


Are your debt repayments getting larger and larger? Are you asking yourself, “do I need debt counselling?”.

The low employment and low incomes in South Africa can put you in a very vulnerable situation. Perhaps you’ve taken out too many loans or too much credit. And, this has caused you to fall into debt.

You’re not alone. 25% of South Africans are unemployed and almost half of active credit consumers are in arrears. This is why the National Credit Regulator in South Africa introduced debt counselling. To help people, like yourself, get out of debt.

How does debt affect you?

If your debt becomes unmanageable and you start missing payments, creditors can take legal action against you and you can become blacklisted. 

But, this can be avoided.

o avoid being blacklisted, you need to acknowledge you have a problem with debt and seek help from an NCR Registered Counsellor.  The Debt Counsellor will assist you with a legal debt management plan.

Here’s how Debt Counselling can help you

Benefits of Debt Counselling:

  • A Debt Counsellor acts as a mediator between you and your Credit Providers. Debt Counsellors have the legal right, experience and skills to negotiate with Credit Providers on your behalf when it comes to extending repayment terms and instalment reductions. Plus, your Debt Counsellor will thoroughly assess your situation to get to the root of your problem so that you can free up disposable income to pay the money you owe, while still leaving you money to cover all your other living expenses.
  • You only pay one reduced monthly instalment towards your debt. This makes it very easy and convenient.  
  • You won’t get harassed by Creditors while under Debt Counselling. While under Debt Counselling, you are under the protection of the NCA. This means, your Creditors are not allowed to contact you or take new legal action against you. Therefore, your assets are safe if you stick to your agreed monthly instalments to your Debt Counselling Company.
  • Once your debt is repaid, you will be issued with a debt clearance certificate.  
  • Your NCR Registered Debt Counsellor will provide you with Debt Counselling and advice that will set you up for a debt-free future. The point of Debt Counselling is to get you out of debt and help you make wiser choices in the future in terms of credit.

Get help from a registered NCR Debt Counselling company. Take the journey towards a debt-free life with Debt Rescue.

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