Debt Review
Debt Review was introduced by the National Credit Act to assist you if you are over-indebted by creating a repayment plan, which you can afford and that is acceptable to all your Credit Providers.
Debt Counselling can assist with your over-indebtedness through budget advice, negotiation with your Credit Providers for reduced payments and the restructuring of debt.
Things to know
when undergoing
Debt Review
You cannot enter into any new credit agreements unless Debt Review is withdrawn from your name;
You pay additional fees (debt counsellor fees, payment distribution agency fees)
You pay higher interest due to longer payback periods
You have a negative credit profile
Debt Review is only considered in the case of extreme over-indebtedness.