Frequently Asked Questions
Find answers to common questions about our debt review services.
Find answers to common questions about our debt review services.
Debt review is a legal process in South Africa that helps individuals who are over-indebted by restructuring their debt payments into an affordable monthly amount. It provides legal protection from creditors while you work towards becoming debt-free.
The process involves a comprehensive assessment of your financial situation, negotiation with creditors to reduce payments, and the creation of a single affordable monthly payment plan. Once approved, you make one payment while we manage your creditors on your behalf.
Debt review removal is the process of clearing your debt review status once you have completed all payments under your debt review plan. This allows you to regain access to credit and restore your credit profile.
Debt mediation involves a neutral third party (mediator) helping you and your creditors reach a mutually acceptable agreement regarding your debt. This can result in reduced payments, lower interest rates, or extended payment terms.
The duration depends on your individual circumstances and the total amount of debt. Typically, debt review plans can last from 3 to 5 years, or until all debts are paid in full according to the restructured plan.
Yes, being under debt review will be reflected on your credit report. However, once you complete the debt review process and have it removed, you can begin rebuilding your credit score. The protection and debt relief often outweigh the temporary impact on your credit score.
Our fees are transparent and will be discussed during your free consultation. Fees are typically included in your monthly payment plan, so there are usually no upfront costs required.
No, while under debt review, you cannot take on new credit. This is part of the legal protection process to prevent further debt accumulation while you work towards becoming debt-free.
Contact us for a free consultation. We'll assess your financial situation, explain your options, and guide you through the process if debt review is right for you.
Contact us today and we'll be happy to answer any questions you may have.
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