This category is your one-stop resource for understanding debt counselling in South Africa. We delve into the benefits of seeking help, eligibility criteria, the process of finding a qualified counsellor, and what to expect throughout your debt counselling journey. Equip yourself with the knowledge and tools to regain control of your finances and achieve debt freedom.
Life after debt review in South Africa can be a breath of fresh air financially. Here’s what you can expect. What is life after debt review? by The National Debt Review Center The most immediate feeling after completing the debt review process is Financial Freedom. After debt review, your credit Read more…
The NCR DHS Status Codes provide information on the different stages of a consumer’s debt review process in South Africa. Important Note: Be aware that some codes, like A1, B, G, G1, I and J, are no longer directly updated in the system since April 12, 2022. If you encounter Read more…
There are several significant benefits of staying under debt review. Got More Questions? We have gathered the most frequently asked questions about exiting debt review here. Book your Free Consultation with The National Debt Review Center USE THE BELOW DEBT REVIEW FORM TO APPLY FOR DEBT REVIEW ONLINE NDRC Facebook Read more…
No, being under debt review is not a criminal record. It’s important to understand that debt review is a legal process designed to assist individuals who are struggling with significant debt. Its primary aim is to help individuals manage their debts more effectively and avoid the severe consequences of insolvency. Read more…
Section 86(10) of the National Credit Act 34 of 2005, often referred to in the context of debt review in South Africa, provides that a credit provider may terminate a debt review in the prescribed manner where the consumer is in default with a credit agreement that is being reviewed. Read more…
A Section 129 debt review, also known as a Section 129 notice or a Letter of Demand, is a legal notice issued by a creditor to a debtor in South Africa. It is delivered in accordance with Section 129 of the National Credit Act (NCA) and informs the consumer that they Read more…
Form 17.4 is now formally known as a 17.W, also known as the Debt Review Cancellation Form, is an official document used in the debt review process. Whether cancelled voluntarily or involuntarily, completing a Debt Review Cancellation Form is required by the National Credit Act (NCA). Form 17.4, also known as Read more…
Reckless lending is generally considered to occur when a credit provider fails to conduct a detailed credit assessment as required by the National Credit Act (NCA) and still offers the consumer credit. Here are some conditions that are typically considered as reckless lending: Learn More about Reckless Lending At NDRC, Read more…
In South Africa, under the National Credit Act, only a court or the National Consumer Tribunal (NCT) has the power to declare that a credit agreement is reckless. This declaration can be made on the request of either the debt counsellor or the consumer. If a court finds a credit agreement to be reckless, it can Read more…
To prove that a credit agreement might be reckless, a consumer generally needs to show the following; Learn More about Reckless Lending At NDRC, we have experienced debt counsellors who can help you understand your rights and explore solutions if you’re facing a potentially reckless credit agreement. We offer free, Read more…