You may have heard of registered debt counsellors before but not quite understand what they do and how their Debt Review services can impact you. Today we’ll discuss exactly what you need to know.

What is a Registered Debt Counsellor?

In essence, a debt counsellor is a trained financial professional who has completed the required training. Crucially, they have registered with the National Credit Regulator (NCR) of South Africa and have a proven ability to manage their personal finances well. You can easily verify the official status of a debt counsellor by referring to the NCR national database.

What Do They Do?

Registered Debt Counsellors (like ours) offer various services to help alleviate the financial burdens of over-indebted South Africans. Typically, over-indebted individuals will look to consolidate their debt into one monthly payment. This makes it easier to keep track of and reliably pay back debt. To achieve this, a debt counsellor will try to negotiate lower interest rates from one’s creditors.

In addition to Debt Restructuring and Consolidation, Debt Counselling (or Debt Review) is among the most popular. When you employ a debt counsellor, they assess your finances and offer advice on improving your budgeting and debt management. They will also notify creditors of your status and thus legally protect you from debt collectors during the process.

How Much Do Their Services Cost?

Most Debt Counsellors charge a fee for a Debt Review, which can cost up to a few hundred Rands. This can be unaffordable for over-indebted individuals with little money, but luckily, we offer our Debt Review service for Free.

For Debt Restructuring and Consolidation, fees are typically calculated based on the finalised monthly payment scheme. Don’t worry, since the point is to REDUCE your debt, these fees will take your finances into account to find an affordable rate.

Struggling to pay off your debt? Contact us for a free debt assessment and start your journey to achieving financial freedom today!