If I miss a debt review payment what will happen?

As hard as it may be during challenging times, do not miss a debt review payment.   Debt review is a legal process, and your payment plan has been accepted by all your creditors. A court order has also been granted.

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Debt Counselling - Frequently Asked Questions

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.

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During a crisis, there is often a high level of uncertainty caused and this pandemic is no exception. Managing your money, and maintaining your budget is proving to be challenging. People have suffered retrenchment, reduced hours, and wages as well as increased medical expenses. 

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Struggling with debt during COVID-19 

Are you struggling with debt during COVID-19? Since South Africa announced its nationwide lock-down back in March, many have been left without jobs or receive a reduced salary and are generally in a bad financial situation. Although the government has provided some financial relief through temporary relief funds, this has proven to not be enough to help the average South African sustain their everyday lives. It may be best for you to take control of the situation yourself. Use this time to review your financial situation and reach out for help where you need it 

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Meerkat's guide to your finances

It’s always good to learn about finances. Here we provide a guide to your finances. The basics of budgeting, credit, banking, saving and debt are the pillars you need to focus on to not only improve your financial education but you will be able to apply what you learn to make your finances great.  

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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?

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The festive season is almost here, and it is easy to get carried away with all the festivities. All those parties, the food, the gifts, it can all take its toll on your wallet. If you are currently under debt review you need to be careful with your spending to ensure you can still, make your monthly commitments.

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Can you be blacklisted while under debt review?

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.

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Repossessing my car under debt review

The main concern of people in debt is repossession of their assets, like their car. This leads to the popular question of “Can I lose my car if I go under debt review?” The simple answer is no. This is because when you enter under debt review, your assets are protected under the NCA (national credit act).

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Considering Debt Review? Here's what you need to know

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