Debt review (also known as debt counselling) is a legal process introduced in South Africa under the National Credit Act (NCA). It is designed to assist individuals who are over-indebted and struggling to meet monthly financial commitments.
If you’re wondering what debt review is, it involves working with a registered debt counsellor who assesses your income, expenses, and debts. They negotiate with your creditors to reduce monthly payments and create a repayment plan tailored to your financial situation. The goal is to protect your assets and help you regain financial control — all while shielding you from legal action or repossession.
What does Debt Review Mean?
Debt review means entering a regulated debt restructuring process that enables you to pay off your debts in a more affordable and manageable way. Once under debt counselling:
- You make a single reduced monthly repayment.
- Creditors cannot take legal action or repossess your assets.
- You are legally protected by the National Credit Act while paying of your debts
It is not a quick fix — it’s a structured, long-term solution that supports your journey to financial freedom.
Use our free debt calculator to find out if you are over-indebted
What Are the Pros and Cons of Debt Review?
Advantages
- One fixed monthly payment
- Legal protection
- Get out of debt in an affordable manner
Disadvantages
- You may not qualify
- You must be a South African citizen
- You have to be over-indebted
The 5 Step Debt Review Process
- Step 1: Free Debt Assessment and Evaluation
- Step 2: Application
- Step 3: Proposal to Creditors
- Step 4: Implementation of the Monthly Repayment Plan
- Step 5: Completion and Clearance Certificate
Income and Employment Requirements for Debt Review
- To qualify for Debt Counselling, it is essential that you have a reliable source of income. This can include employment wages, spousal support or family support, earnings from self-employment, or even retrenchment benefits.
- The objective is to ensure that there is a steady income stream that can support your reduced monthly repayment after covering all living expenses.
How do I start the Debt Review Process?
You can start your debt-free journey in three ways:
- Get a your FREE personalised assessment
- Start your online application
- Or download the application form
Debt Rescue can only assist consumers who are over-indebted.
Use our free Calculator to find out if you are over-indebted.