FREQUENTLY ASKED QUESTIONS
Why use a debt counsellor?
At What Stage Can I Begin Applying For Debt Review?
Signs that you may need to apply for debt review include:
- Notices from creditors, informing you that you are behind on your payments
- Being unable to pay of credit card instalments and still purchasing necessities using this facility.
- Borrowing money from micro-lenders (including payday loans and personal loans).
Why do I need Debt Counselling?
If I am Unemployed, Can I Still Apply for Debt Review?
What Can I do if there are Judgements against Me?
Judgements that were submitted after we have sent you the notice (section 21a of NCA) via registered mail will not be included and, if this is not the case, we will attempt to negotiate the situation with your credit providers as it pertains to the debt review.
Does Debt Counselling Cover a Court Summons?
Can I apply for more credit or use my credit cards while I am under debt review?
Will my Money be Safe?
Can Creditors Change their Minds once Debt Plans have been agreed to?
Will the People I work with (including my boss) find out about this?
Will my name be removed from the credit bureau once my debt is cleared?
Can creditors refuse to accept lower payments under the debt counselling plan?
Do I have to attend an interview with Debt Rescue?
How long does it take for my situation to improve?
How long will I have to remain on the Debt Counselling Plan?
When can I apply for debt review?
Any consumer who is over-indebted can apply for debt review. According to the National Credit Act, a consumer
is over-indebted when he/she is unable to satisfy in a timely manner all his obligations under all his/her credit
agreements (after paying his basic living costs).
In short, when you struggle to meet all your debt repayments on time; or
if you do not have enough money left after paying all your essential living costs to pay your debt, you
are over-indebted.You can apply whether you are:
You can apply whether you are: blacklisted or not; or whether you are in arrears or not.
Typical signs of over-indebtedness include:
- You receive threats because of arrears on installments, for example:
- Letters and notices
- Phone calls from creditors
- When you borrow on a regular basis from micro-lenders/cash-loans
- When you have garnishee orders against your salary
- When you are using a credit card to buy groceries or to pay other basic living costs, debt and installments.