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Frequently Asked Debt Review Questions

Both new and existing clients have questions about Debt Counselling and Debt Review. Here we will answer some of the most asked questions. Have a more specific question not listed here? Then give us a call on 087 550 11 22 or email us at info@sandtondc.co.za.

debt questions answered

What Is Debt Review?

Debt Review, otherwise called Debt Counselling, is a debt relief program to assist over-indebted South African consumers. A Debt Counsellor handles the process and negotiates a new repayment plan with your credit providers. If accepted, you will be allowed to pay one easy instalment per month towards all your debt.

Tell me If I Need Debt Review?

If you are not able to meet your debt obligations and still survive, then the short answer is yes. Debt Review will reduce your monthly instalment amounts and free up much needed cash. But it is very important to act fast, waiting too long or taking on extra loans might make things difficult.

What is The National Credit Regulator?

The NCR regulates all companies in the South African credit industry. Every Debt Counselling company has to be registered with the NCR and have a valid certificate. The NCR also oversees all credit bureaux and banks and makes sure these companies are compliant.

Do I Have to See A Debt Counsellor In Person?

No, you do not have to see a Debt Counsellor in person. The whole application process can be electronic, so it does not matter where you are, Sandton Debt counselling will be able to assist you. In fact, 99% of our clients apply over the phone.

Should I Take Out A Personal Loan?

Taking out a loan is easy, most of the time. But to take out a loan to pay debt is never a good idea. Due to the current situation in our country, many consumers will have the need to borrow money just to make ends meet. There are a few other options you could try first.

Is The Debt Relief Immediate?

You will experience immediate debt relief with debt review. Within the first week, Sandton Debt Counselling will draw up a new and affordable payment plan. Our Debt Review Experts will make sure that you will be able to afford the new payment plan and have a normal standard of living.

What is The Debt Snowball Effect?

Debt Counselling is almost like the debt snowball effect. It is based on settling smaller accounts and high interest accounts first and then applying the instalment of the settled account to the next account in line. By using this cascading effect, debts get settled faster.

Will Debt Review Affect Future Job Applications?

According to us, Employers want responsible employees, and being under Debt Review will show them that you are responsible. A person with a bad credit record will much rather scare off a new employer than someone under a Debt Relief program.