Top 5 Questions to ask your Debt Counsellor

The role of a Debt Counsellor is integral to the success of your Debt Review journey. It is important to approach the right company for this service and to make an informed decision. Our team of Debtco Group experts have compiled 5 essential questions to ask before entering any agreements, as well as the answers you should require.

1. Are you National Credit Regulator registered?

This is easily the most crucial question to ask any Debt Counsellor. It is a legal condition for all Debt Counsellors to be registered with the National Credit Regulator (NCR). A registered Debt Counsellor will be able to provide you with their unique NCR Debt Counselling number so that you can phone the NCR hotline to verify that this is true.

2. Are you affiliated with a reputable Payment Distribution Agency?

Make sure that you use a Debt Counsellor who works with a reputable Payment Distribution Agency (PDA) to manage your payments. The National Credit Act states that a Debt Counsellor must make use of a registered PDA and that this agency will become responsible for the distribution of monthly payments from a consumer to their creditors until all debts are settled.

3. What services do you offer?

Debt Counsellors should be able to offer a full range of Debt Review services, to help you overcome your debts as effectively as possible. From investigating for Reckless Lending creditors and negotiating reduced payments with your creditors to protecting you from asset repossession and presenting you with a Debt Clearance certificate once you have successfully completed the process. Understanding what services to expect allows you to choose the right Debt Counsellor.

4. Are your fees NCR Aligned?

As part of their responsibility to protect consumers, the NCR prescribes fees for Debt Review that must be honoured by all Debt Counsellors. As a consumer, you need to request transparency and should understand exactly what is expected of you financially, while under the Debt Review process.

5. Are you planning to leave the industry?

If you work with a Debt Counsellor who chooses to leave the industry, this can impact you and should be disclosed upfront. This could lead to an interruption in the services you are entitled to during Debt Review and may delay the timeline for your completion of the Debt Review process.

At Debtco Group, we are registered with the NCR and also work according to all the legal regulations outlined by them. Our team of registered Debt Counsellors offer a comprehensive range of services to help clients overcome their debts under Debt Review and are affiliated with a trusted PDA. We are here to help you achieve financial freedom. Contact us today to get started.