Debt counselling is intended to assist over-indebted consumers struggling with debt through budget advice, negotiation with credit providers for reduced payments and restructuring of debts. This is a great process for anyone with an income and struggling to meet their monthly obligations
Debt counselling otherwise known as Debt review, is a debt solution targeted at South African consumers who are over indebted and struggling to manage their finances. Debt review is the process whereby a debt counsellor assesses a client’s outstanding debt and implements a restructured debt repayment plan.
Below is the list of Debt Counseling Companies In South Africa
Debt Therapy
Debt Rescue
Zero Debt
National Debt Advisors
Debt Counselling South Africa
DebtBusters
Debt Sage
Gauteng Debt Counselling
SA Debt Review
DebtSafe
Snupit
DCG SA
Freedom Debt Counsellors
RD Debt Counselling
Doctor Debt
Sandton Debt Counselling
SA Debt Relief
Lifeline Debt Solutions
Dept Compuscan
How much does debt counseling cost?
The fees will vary depending on the agency, but there’s typically a set-up fee and a monthly fee. (GreenPath, a credit counseling agency, currently offers a debt management plan with a set-up cost up to $50, with an average monthly fee of $36.)
What does a debt counselor do?
Consumer credit counseling services help overextended credit users eliminate high interest rate credit card debt. It’s their mission to help you regain financial stability. Certified credit counselors evaluate your debts, budget, and credit. These services are also called debt counseling and financial counseling.
Do banks offer credit counseling?
Credit counseling organizations, such as members of the National Foundation for Credit Counseling , offer free or low-cost services for people who are struggling financially. A credit counselor can take a look at your income and spending, and help you determine where your money is spent each month.
How long does debt review last?
While the general time frame is 60 months or between 3 to 5 years, it is dependent on how much debt you have and how much you can afford to repay per month. This is because each case is assessed individually and based on what you can afford.