How much does it cost to remove debt review in South Africa?

The cost of being removed from debt review in South Africa can vary depending on the specific circumstances of your case.

1. If your application falls under Section 86(7)(a) of the National Credit Act. This section deals with debt review rejections, the fee is typically R350 (VAT exclusive) & the debt review listing will be removed within 3-7 days, and credit bureaus will update within 21 business days.
2. For debt review clearance certificates under Section 71, the fee is generally R450 (VAT exclusive). A clearance certificate will be issued immediately upon receipt of payment, and credit bureaus will update within 21 business days.
3. If you’ve been declared overindebted by a debt counsellor in terms of Section 87 of the National Credit Act, the fee is R8550, which can be spread over 3-6 months with payments as low as R1425 per month.
4. Section 165 NCA applications – The fees and timeline are the same as for Section 87.

It’s important to note that these are general guidelines, and individual cases may have additional factors that could influence the cost.

Be cautious of scams that promise quick and easy removal from debt review. It’s crucial to work with a reputable debt review company. Thoroughly investigate any company before engaging their services, and avoid making upfront payments. Always check online reviews and testimonials. Remember, debt review removal is not a one-time process. It involves multiple parties, including debt counsellors, attorneys, credit bureaus, the National Credit Regulator (NCR), and potentially the courts. Be patient and avoid unrealistic expectations of immediate results.

For a precise quote and to understand your specific situation, it’s imperative that you schedule an appointment with the NDRC

Got More Questions? We have gathered the most frequently asked questions about exiting debt review here.

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