One of the many Debt Solutions we offer is Debt Counselling. This solution helps ease your financial stress and address your financial concerns. A financial wellness plan is developed that is not only approved by your Credit Providers, but also reduces your monthly debt repayment by as much as 50%. This is done by consolidating all your debt into one manageable installment at lower interest rates.
So would Debt Counselling Work for You?
Debt Counselling or Credit Counselling was setup by the National Credit Regulator and Credit Providers, when the need arose to assist consumers who had become over-indebted due to the Global Financial Crisis of 2008.
This is a legal process whereby you and your Credit Providers come together through a Debt Counsellor. All parties concerned then collaborate on a new affordable repayment plan in which your current contractual obligations are renegotiated. The new contract reduces your monthly installment by extending payment terms up to 60 months and reducing interest rates to as low as 5-10%.
Multiple Credit Provider payments are consolidated into one payment which is then paid to a Payment Distribution Agency. This Agency is also setup by the National Credit Regulator to distribute the consolidated payment to each Credit Provider in line with the new re-negotiated contracts.
With a Negociate Credit Solution’s Debt Management Plan, you can look forward to a simple, fast approach in which the new lower instalment can be made before your next installment is due. We have been doing this for a very long time and have built up great relationships with all registered Credit Providers in SA.
Since this process allows you and the Credit Providers to work together successfully, you can also look forward to being granted credit again by your Credit Providers.
Speak to our Debt Counselling Department about your current financial situation. Let us conduct a free, no obligation Financial assessment to determine what your new installment will be. You will also receive a copy of your credit report and a detailed assessment of how the process works. This is our pre-qualification process.
The Debt Counselling Form to start the process will only be sent to you once you understand fully how the Debt Counselling Process works and only after we have answered all questions to your satisfaction.
There are no upfront costs or charges with Debt Counselling and so you have nothing to lose by making an informed inquiry, which can only improve your financial well-being.