Debt Review in South Africa That Helps You Take Back Control
DebtChamp helps over-indebted South Africans restructure their debt into one affordable monthly repayment through the legal debt review process.
If your salary disappears into debit orders, credit cards, loans or arrears, you are not alone. Our team can assess your situation, explain your options and help you work towards a more stable financial future.
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Are You Struggling To Keep Up With Debt?
Debt can become overwhelming when your monthly repayments are higher than what you can realistically afford. You may still be earning an income, but after debit orders, loan instalments, credit cards, store accounts and living expenses, there is little or nothing left.
Debt review may help if you are:
- Using credit to pay for basic living expenses
- Borrowing money to pay other debts
- Missing payments or paying late
- Receiving calls or messages from creditors
- Worried about vehicle repossession or legal action
- Paying only the minimum amount on credit cards
- Struggling to afford food, rent or fees after debt repayments
How debt review can help
Debt review can help reduce monthly pressure by restructuring your debt into a repayment plan based on what you can afford after essential living expenses.
One Affordable Monthly Payment
Your debt repayments are restructured into one manageable monthly amount based on what you can afford.
Creditor Negotiation
A registered debt counsellor negotiates with your creditors to reduce monthly instalments and help you repay your debt in a structured way.
Legal Protection
Debt review is a legal process created under the National Credit Act to assist over indebted consumers in South Africa.
Less Financial Pressure
A realistic repayment plan can help you cover essential living expenses while still paying towards your debt.
A Clear Path To Debt Freedom
Once your debts are settled and the process is completed, you may receive a clearance certificate and start rebuilding your credit profile.
Monthly Payment Reduction Through Debt Review Example
Thabo was earning an income but could no longer afford his monthly debt repayments after a change in his work situation. His debt repayments were placing pressure on his household budget, and he needed a structured solution.
After applying for debt review, his repayment plan was reviewed and restructured into a more affordable monthly amount.
*Important note: Every client’s result is different. Your new repayment depends on your income, expenses, debt balances, creditors and affordability assessment.
| Before Debt Review | After Debt Review | Estimated Relief |
|---|---|---|
|
R20 000 per month |
R10 500 per month |
R9 500 per month |
Your Road To Debt Freedom
How it works
Step 1: Free Debt Assessment
We review your income, expenses and debt commitments to check whether debt review may be suitable.
Step 2: Formal Application
If you qualify, you complete the required Form 16 application to start the debt review process.
Step 3: Creditor Notification
Your creditors and credit bureaus are notified that you have applied for debt review.
Step 4: Repayment Proposal
After negotiations, a repayment plan is prepared based on what you can afford after essential living expenses.
Step 5: Court Order And One Monthly Payment
Once the repayment plan is accepted or confirmed through the legal process, you make one monthly payment through a registered Payment Distribution Agency.
Step 6: Completion And Clearance Certificate
Once your qualifying debts are settled and the process is complete, your debt counsellor can issue a clearance certificate so you can begin rebuilding your credit profile.
Why South Africans Choose DebtChamp
DebtChamp exists to help South Africans who feel trapped by debt find a realistic way forward. We understand that debt problems are stressful, personal and often difficult to talk about. Our role is to guide you with respect, clarity and practical support.
Frequently Asked Questions.
The National Credit Act (NCA) introduced debt review, sometimes called debt counselling, in 2007 to assist over-indebted South African consumers.
Debt review is considered to be safer and more effective than debt consolidation loans, which often end up being a short-term solution that could get consumers further into debt.
NCR registered debt counsellors are qualified to assist over-indebted consumers reduce their debt.
While it’s not right for everyone or applicable to every situation, you should consider it as a possibility for curing your financial woes.
Debt Review is for consumers that are overindebted, have fallen behind, or are at risk of falling behind. You are over-indebted if the money left after paying essential expenses such as rent, groceries is not enough to pay your debt obligations. Debt Review is for consumers who have received Section 129 letters from creditors.
You are over-indebted if the money left after paying essential expenses such as rent, groceries is not enough to pay your debt obligations.
No, you will not have to attend any court proceedings, as DebtChamp’s specialist attorneys will obtain the court order for you. The legal fees relating to the court order is included in your reduced monthly debt repayment amount.
Just like DNA, everyone’s financial situation is different. Factors that influence the length of your term include the amount of debt that you have and your monthly affordability. Most of our clients are debt-free within 36-60 months.
No. DebtChamp does not offer loans. We help consumers deal with existing debt through the debt review process.Accordion Content
Debt review is designed to help protect assets by creating a structured repayment plan. The exact protection depends on your situation and when you apply.
Once the debt review process is active and creditors are notified, communication should move through the debt counsellor and formal process.
Start Your Free Debt Assessment
You do not have to face debt alone.
Complete the form below and a DebtChamp debt counsellor will contact you for a free, confidential, no obligation debt assessment.
About Debtchamp
Debtchamp’s Debt Counsellor, is registered with the National Credit Regulator (NCR) with the registration number NCRDC3682. Debtchamp’s company registration number is 2022/276148/07.