Dealing with debt can be overwhelming, but finding the right debt review company is crucial to regaining financial freedom. In South Africa, where the National Credit Act governs debt counselling, choosing the right provider can make all the difference in the success of your journey to becoming debt-free. In this blog post we'll look at the criteria you should consider before choosing a debt review company.
What makes a great debt review company?
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Let’s look at the key features that define a top-notch debt review company:
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Accreditation and Compliance
The best debt review companies are accredited by the National Credit Regulator (NCR). This ensures they follow the legal framework set out to protect consumers. Meerkat's founder and CEO, David O'Brien is an NCR-registered debt counsellor, (NCRDC2613) which means we are compliant and adhere to strict regulations. -
Proven Track Record
Experience and a history of successfully helping clients are vital. Meerkat has helped thousands of South Africans manage and reduce their debt effectively, earning them a place among the top debt counsellors in the country. We've also been voted as one of the Top 10 Large Debt Counsellors in the country! -
Client-Centric Approach
A great debt review company puts the client’s needs first. At Meerkat, the focus is on personalised service, with debt counselling plans tailored to each client’s unique financial situation. -
Positive Client Reviews
Reviews are a reflection of a company’s service quality. Meerkat holds a strong reputation with excellent customer feedback and ratings on platforms like Hellopeter, showcasing their commitment to client satisfaction.
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Why Choose Meerkat for Debt Review?
Meerkat isn’t just any debt review company. Here’s why we should be your first choice:
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Tailored Debt Solutions Meerkat offers a bespoke approach to debt counselling, customising plans to suit individual needs. Whether you’re dealing with multiple loans, credit card debt, or a personal financial crisis, our team provides a plan that works for you.
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Reduction in Monthly Payments
One of the standout features of the debt review process is the ability to reduce monthly debt repayments significantly. Through careful negotiation with creditors, we help lower your monthly obligations, giving you breathing room in your budget. -
No Additional Loans
Unlike debt consolidation, which often involves taking out another loan, debt review through Meerkat helps restructure your existing debt without adding to it. This means you can start your debt repayment journey without worrying about additional interest or loan approvals. -
Legal Protection Meerkat ensures that the debt review process provides you with legal protection. Once your repayment plan is approved by a court, you’re protected from legal action by creditors, including asset repossession. This is a key benefit that gives peace of mind to those struggling with debt.
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Trusted Payment Distribution Agency (PDA) Partnership Meerkat partners with Hyphen PDA, one of South Africa’s most reliable payment distribution agencies. This partnership ensures that your restructured payments are handled efficiently, with timely distributions to creditors, in line with your repayment plan.
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Expert Debt Counsellors Meerkat’s team comprises expert debt counsellors registered with the NCR, ensuring that you receive professional advice and support throughout your debt review journey. They guide you every step of the way, making sure you understand your options and how best to move forward.
Case Study: Real Success Stories
Take the Dlomo family, after facing financial hardships due to medical bills and unemployment, they turned to Meerkat. With a total debt of over R591,000, their monthly repayments were crippling. Meerkat reduced their payments from R41,000 to R18,000 per month, saving them R23,000 each month. Over time, the Dlomos were able to regain control of their finances and secure a debt-free future.
Read more about their story here.
The Meerkat Commitment: Helping You Do More with Your Money
At Meerkat, the mission is simple: to help South Africans do more with their money. This extends beyond debt review to financial education, savings solutions, and insurance products designed to empower individuals and families. When you choose Meerkat, you’re not just getting a debt review company – you’re gaining a financial partner committed to your long-term success.
