During Debt Review
What to expect while under debt review
Can I get credit while under debt review?
No, you cannot obtain any new credit while under debt review. This is both a legal requirement and a protection for you.
Read MoreCan I use my credit cards while under debt review?
No, you cannot use credit cards or any credit facilities while under debt review.
Read MoreCan I be blacklisted while under debt review?
If you are struggling to pay your financial commitments, you are probably already blacklisted from obtaining future credit.
Read MoreWhat if I miss a payment while under debt review?
Missing payments during debt review is serious and can have consequences:
Read MoreHow does debt counselling affect my spouse?
The impact on your spouse depends on your marriage regime:
Read MoreCan I transfer to another debt counsellor?
Yes, you can transfer your debt review to another debt counsellor if needed.
Read MoreWhat happens to my credit record during debt review?
During debt review, your credit record is affected in specific ways:
Read MoreHow long does debt review last?
The period of debt review varies according to how quickly you can pay off all your finances.
Read MoreHow will debt review affect my credit record?
Once you apply for debt review, we update your status with the NCR who notifies the Credit Bureaus to reflect that you are under debt review.
Read MoreWhat is the difference between debt review and debt consolidation?
Debt review and debt consolidation are fundamentally different approaches:
Read MoreWhat is a debt consolidation loan?
A debt consolidation loan is a single, large loan designed to pay off all your existing debts at once. Instead of paying several creditors, you are le...
Read MoreDebt review and divorce - what happens?
Divorce during debt review creates complex situations that need careful management:
Read MoreUnderstanding Debt Prescription in South Africa
Debt prescription means a debt becomes legally unenforceable after a certain period without acknowledgment or payment.
Read MoreHow to handle debt accumulated as a result of job loss
Job loss is one of the main causes of over-indebtedness. Here's how to manage it:
Read MoreCan I travel overseas while under debt review?
Yes, there is no legal restriction on traveling overseas while under debt review. However, there are practical considerations:
Read MoreCan I open a new bank account while under debt review?
Yes, you can open a new bank account while under debt review. Banks may offer:
Read MoreWhat happens to store accounts during debt review?
Store accounts (retail credit) are included in your debt review like any other credit agreement:
Read MoreCan I buy furniture on lay-by while under debt review?
Yes, lay-by is not considered credit and is allowed during debt review.
Read MoreCan I settle accounts early during debt review?
Yes, you can make lump sum payments to settle accounts early during debt review:
Read MoreCan I withdraw from debt counselling once I have signed up?
You may only withdraw from debt review in specific circumstances:
Read MoreCan I change debt counsellors during the process?
Yes, you may change debt counsellors at any time, provided that all fees are paid up to date.
Read MoreCan I buy a car while under debt review?
No, you cannot take on any new credit while under debt review, including vehicle finance. This is a legal restriction under the NCA designed to preven...
Read MoreWhat happens if I win the lottery while under debt review?
If you win a significant amount while under debt review, you are NOT legally obligated to immediately pay off all debts. Your court order remains in e...
Read MoreWhat happens to my bank account during debt review?
Your existing bank account typically remains open and functional during debt review. You can still receive your salary and make normal transactions.
Read MoreWhat happens to my gym contract during debt review?
Gym contracts and similar service agreements are NOT credit agreements under the National Credit Act, so they are NOT included in debt review.
Read MoreStill Have Questions?
Our NCR-registered debt counsellors are ready to help. Get a free, confidential assessment today.