What happens when the debt review has been completed?

Before understanding what you are allowed to do once the debt counselling process has been completed, it is important to understand what happens during the process and why you are unable to take on additional credit while under debt counselling.When a client signs up for debt counselling, The Debt Counsellor will ensure that all credit bureaus and credit providers are notified that the client is now under debt review. The credit bureaus will then proceed Read more…

Once I have applied for debt review, will be required to go to court?

In order for debt review to be rolled out, a court order has to be granted. The court order is put in place in order to legally protect clients from being hassled by credit providers, as well as to prevent creditors from taking legal action against them. Our legal team is responsible for combining all debt review court applications from documents, which are completed and signed by clients, as well as their credit providers and the Read more…

What is reckless lending?

Reckless lending is something that has become a vital concern, as many South African consumers have fallen victim to it. If you feel you have entered into a credit agreement and witnessed a case of reckless lending, immediately contact The National Debt Review Center for immediate assistance. According to the National Credit Act, the regulations about reckless lending go as follows:80. (1) A credit agreement is reckless if, at the time that the agreement was Read more…

What is prescription or prescribed debt?

The prescription was introduced as means of protecting South African consumers from unscrupulous credit providers, who are accountable for recklessly lending credit and have contributed to the detrimental debt crisis South Africa currently faces. Prescription in South Africa can be better understood by reading the following.South African consumers have the two defenses, induplum and prescription, against credit providers: 1. Induplum: The in duplum rule simply put, states that upon default, the interest charged against a Read more…

How to remove your name from debt review

We are pretty much sure that the reason why you are here is because you are wondering on how you can clear your name from debt review/debt counselling. Read below as we explain the steps that you can take in order for you to get your name cleared.  Step 1 – When can a consumer (YOU) exit the debt review process? Section 71(2)(b)(i) of the National Credit Act initially made provision for consumers to only Read more…