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.

Can you believe we are halfway through the year already? The year has flown by during the nationwide lock-down as a result of the global pandemic and many South Africans have had a tough financial start to the year. Although many are saying 2020 is a write off, there are some changes to make to your finances to make the latter half of your year more bearable. Here are some tips on what you can do better to get your finances back on track for the other half of 2020. 

When you are under debt review you cannot, by law, be blacklisted. (blacklisted is a terminology that doesn’t really exist) If you were blacklisted before you entered under debt review, then it will stay on your permanent record. This is just one of many reasons why you should apply for debt review ASAP.

People tend to spend all their money (and money they don’t have) during the festive season. Gifts and food are the main culprits of this spending! Here’s how to protect your finances this festive season

Do you have sleepless nights thinking about how much debt you are in. Wondering “how on earth am I going to pay off all of my debt?” There is an option that can help you to sleep easier at night while you become debt free! Debt rescue may be the right choice for you.

We’re often asked if debt review is good or bad and it all depends on your circumstances. If you find you are falling into arrears and you can no longer service your debt with the money you get in each month, you could be over—indebted.  If you are, then debt review is the solution for you. Since debt review was introduced by the NCR National Credit Regulator in 2007 it has provided much need relief for many consumers. Debt review can help relieve stress and anxiety from not being able to pay your debt. Your assets are protected from repossession and at the end of the process your credit record is restored.

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.

You have probably heard about debt counselling and may be thinking it is a process that can benefit you.  We’re often asked how long the process can take.

Is debt counselling a good idea?

The truth is that debt counselling is the best option for over-indebted consumers. It has saved many households from, bankruptcy and losing their assets.

You can never predict when an emergency may happen and what that emergency might cost you. It could even add to your already growing debt Be prepared and start saving up an emergency fund so you can be financially prepared for when life happens.