Debt Counselling is a professional service provided for over-indebted consumers. It is a process regulated by the new National Credit Act and provides the consumer with greater protection against creditors wishing to take legal action, like garnishee order or repossession of assets. The goal of Debt Counselling is to develop a repayment plan that is affordable to the consumer and acceptable to the creditors. This repayment plan will still allow the consumer to meet their basic living expenses.
Once all your obligations in terms of this debt review process has been satisfied, we issue you with a clearance certificate within 5 days of receiving your formal application for a clearance certificate. You can also apply for this clearance certificate at any time during the debt review if you can settle your obligations. Once this certificate is issued all credit bureau records must be expunged and we check that this is done within 5 working days after the credit bureau has been notified.