Debt Review

Living under the constant strain over indebtedness can take a toll on your mental health, work performance and relationships. The ticking clock of another month rolling over and more debt obligations looming overhead can feel inescapable, especially when you are over-indebted. What is Debt Review? Debt Review is an effective debt relief measure that is afforded to consumers who need a hand in repaying their debts.

At Debtco Group, our team have worked with consumers from all over South Africa, to assist them in repaying their debts through Debt Review. The first step is to determine whether this is the best course of action for you, by assessing your finances in detail – you can do all of this on our website, by filling in our contact and assessment form of your expenses and income. Once we’ve concluded that your expenses and debt outweigh your monthly income, we will figure out your affordability, in order to present you with a new debt repayment plan that matches your monthly living expenses and income. This new repayment plan lets you pay back your debt without compromising on your basic living expenses.

Debt Review is not a quick fix, but rather a new, tailored approach to paying back your debt, which aligns with your current finances. When you undergo Debt Review, a qualified Debt Counsellor from our team will contact your creditors to negotiate more manageable monthly instalments and interest rates on your behalf.  Once we have done this with your various creditors, you will no longer be paying back multiple debt payments each month, and will now only be paying back one overall monthly instalment that is lower than before, and covers all of your debt. Note that this is payable to a trusted Payment Distribution Agency (PDA), so that you won’t need to deal with your creditors whatsoever during the Debt Review process.

There are many benefits to Debt Review, in addition to an affordable new monthly repayment plan. Debt Review protects you from Debt Collectors and the potential legal actions you could otherwise be facing due to lack of payment or breach of contract. Your creditors may not connect with you, and our team will ensure that all your existing credit agreements are properly assessed, in case of reckless lending activity that would be at the fault of your credit and not you. While undergoing Debt Review, you won’t be allowed to take on new debt, but your life can continue in terms of paying rent, having a job and enjoying your day to day life.

The aim of Debt Review is to give you a second chance at being financially independent. Once you’ve settled your debt and are no longer over-indebted, we will issue you with a Debt Clearance Certificate. Our Debtco Group Debt Review service is here to make your life easier, and all of our debt counsellors are registered with the National Credit Regulator (NCR).