Debt Counselling: Your questions answered.

What is the NCA?

National Credit Act. Act prescribing rules and regulations for the credit industry and sets the groundwork for over-indebtedness and debt counselling.

The global pandemic has not only changed our lives as we know it, but it has drastically changed the South African economy and in turn, our finances. South Africans have had to change their way of living to suit their new financial situation. Many have been left without any income for months, and are not able to afford the things they are used to, leaving us to make tough financial decisions that will affect our lives for years to come. Here are some ways to keep your finances going in our changed world.  

Can I take out credit after debt review?

Are you wondering if you can take out credit whilst undergoing debt counselling?  The answer is no, but for a good reason. If you are making reduced payments on your existing debt, the last thing you want to do is take on  further credit that will make your situation considerably worse. But what about after the debt review process, when all your debt is paid off?

Are you in debt and struggling to pay it off? Are your assets in danger of repossession? Debt counselling may be the right path for you to take. Debt counselling can reduce your debt repayments to an affordable rate so that you can pay off your debt and have money left over to pay for everyday expenses.