With more than 10 million South Africans officially over-indebted, it’s safe to say that debt is a real problem. We’ve met many people who struggle to make ends meet every single month and don’t know how they’re going to cover their bills. When we speak about what we offer as debt counsellors, one of the main questions we get asked is; “How does debt counselling work?” 

The point of this blog is to cover that exact question. Let’s go through what the process looks like when you work with us. 

What the Process Looks Like with National Debt Counsellors 

As we’ve mentioned above, if you’re struggling to make your monthly debt repayments, you can apply for debt counselling with a registered debt counselling company like us at National Debt Counsellors. 

The process of debt counselling is much simpler than you might expect. It is summarised in a few easy steps:  

Step 1: Request a Free Consultation from National Debt Counsellors 

One of our professional consultants at National Debt Counsellors contacts you and takes you through a free, no-obligation financial assessment to determine whether you’re over-indebted. Don’t worry, this process is completely confidential! 

Step 2: We Notify Your Creditors & Negotiate a New Payment Plan for You 

If you are indeed over-indebted, we then notify your creditors that you’ve applied to go under debt review. From here, you and your assets are immediately protected under the National Credit Act. We also negotiate your loan agreements with your credit providers and restructure your repayments to an amount that’s affordable for you. This means you’ll no longer struggle to make payments each month! 

Step 3: Pay a Single, Affordable Monthly Instalment 

Once we’ve handled the above steps for you, you begin paying one easy monthly instalment via an accredited PDA (Payment Distribution Agency), which distributes the funds to your credit providers. 

Step 4: We Make the Approved Plan an Order of the Court 

Our panel of Attorneys apply to the Magistrates Court on your behalf to make your restructured repayment plan an official order of the court and ensure you remain protected during the process. 

Step 5: Your Debt is Paid Off and Your Credit Record is Clear! 

Slowly but surely, you’ll pay off your debt. Hooray! Once it’s repaid, we issue you a clearance certificate and notify the credit bureaus to clear your credit record. You are now able to live in financial freedom! 

Why Choose National Debt Counsellors? 

We’re a team of leading debt counsellors who believe that debt doesn’t mean disaster. We assist everyday South Africans who find themselves struggling to meet their monthly financial obligations. Our team of Debt Counsellors are registered with the National Credit Regulator and offers you a free, no-obligation assessment of your financial situation. 

We firmly believe that if you commit to this process properly, your life can change for the better. If you’re struggling to manage your debt, take that first step towards financial freedom and contact us today. Don’t put it off, because your financial freedom is waiting!