Debt Review
Is your debt weighing you down?
If you’re struggling to manage your monthly debt repayments, there’s a solution. Debt Review, introduced by the National Credit Act, can help you ease the burden of your monthly debt.
To find out more about the debt review process, please complete the call me back form and one of our dedicated agents will call you.
DEBT REVIEW AND HOW IT WORKS
What is debt review?
Debt Review is a legal process that was introduced by the National Credit Act to assist in the rehabilitation of financially distressed consumers
The process is facilitated by a registered debt counsellor who will assess a consumer's finances and develop a repayment plan to present to credit providers.
To find your nearest debt counsellor, please visit the National Credit Regulator’s website.
What happens when you start debt review?
- Once you’re in debt review, you can’t access credit or apply for new credit.
- You’ll be listed at the credit bureau as being under debt review.
- You’ll be liable for paying any debt counselling fees due to your debt counsellor.
- You’ll still need to pay monthly instalments for your credit agreements.
- Your debt counsellor will facilitate the debt counselling process for you with your credit providers.
Who can apply for debt review?
- Customers who are unable to meet their monthly debt obligations.
- Those who earn a monthly income.
- If you are married in community of property, your spouse will have to agree to go under debt review too.
How debt review works?
To find out more about how Debt Review works, please download the process view.
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