How Debt Review can help you!

Issues with repaying your debt should not define you, and don’t have to with the help of our professional Debt Counsellors. At Debtco Group, we provide a trusted and effective Debt Review service that is customized to your unique financial circumstances and monthly budget. Consumer debt in South Africa is at an all-time high, with more and more middle and low earning households seeking financial relief from being over-indebted.

How can Debt Review help you? Instead of attempting to manage numerous debt repayments every month, most with high interest rates and strict repayment terms, Debt Review consolidates all your debts into one reasonable monthly repayment that you can actually afford to pay back. This new repayment is the result of careful consideration based on your financial capabilities, and is negotiated by our Debtco team with your many creditors. Without struggling to afford your monthly debt instalments, you can enjoy the little things in life again, without the constant pressure of unpaid bills and unmanageable financial obligations.

Debt Review also helps you by giving you peace from creditors who constantly call or email demanding payment – while undergoing Debt Review, you are protected from your creditor’s consistent follow-ups for payback, meaning that they are no longer allowed to contact you directly. Another major way that Debt Review can help you is that you are protected from becoming blacklisted, or having legal action (like asset repossession) taken against you. All you have to do is pay back what you owe, which is suddenly much more achievable, thanks to a new repayment amount and less pressure.

Once we have reviewed your living expenses, debts and monthly income, we can determine whether you are over-indebted and qualify for the Debt Review process – you also need to be employed full-time, and earning a stable monthly salary. If your living expenses exceed your income each month and keep you from being able to honour your financial commitments, you are most likely over-indebted, meaning that Debt Review can help you. At Debtco Group, we have assisted clients facing challenging times with a National Credit Regulator (NCR) approved Debt Review service that works for them. Once our clients have successfully repaid their debts in full, we also assist them in acquiring a debt clearance certificate.

The steps to successful Debt Review are straightforward, starting with a Free Debt Assessment that is available to clients on our website. If we find that Debt Review can help you, we will notify your creditors and request a certificate of balance from each one of them, to guide us in negotiating reduced payments and interest rates on your behalf.

Once we have reviewed and restructured your payments, you will be responsible for managing the new debt payment that we present you with, which will be made to a Payment Distribution Agent (PDA) every month, instead of directly to your credit providers. If you have any creditor enquiries, we will see to them on your behalf. All you need to do is focus on paying back your debts for good, a goal that is now possible to achieve.