Where does my Money go?

High Cost of living.
High fuel prices.
Salaries stay the same, no / or small increases.
Reckless / Unlawful lending.
Only one breadwinner in a family.
Consumer spending habits.
Divorce.
University and College fees for children.

Are you over-indebted?

On average, Consumers spend 65% of their NETT Income on repaying Debt.
On a R 10 000.00 take home salary, that is R 6 500.00 on Debt Repayments, which only leaves R 3500.00 for essential living expenses

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DID YOU KNOW?

There are currently 25 million credit active consumers, of which 13 million consumers have impaired credit records.

Gross consumer Debt just under 2 Trillion Rand. It is believed that the number of applications for Debt Review will increase every year by more than 500% .

Currently over 1.3 Million people under Debt Review.

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DO YOU?

Check your bank Statements frequently for unauthorised Debit orders?

Check your ITC Report once a year? You are entitled to 1 Free credit Report per year, Transunion Credit Bureau.

When applying for a Payday or short term loan with Cash Loans, make sure to read the fine print.

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DO NOT!

1.) Be Careful to give your personal details, ID number or banking details to Call Centres.
2.) Do not surrender your assets without any proof of Legal Documentation
3.) Do not Sign Voluntary surrender of assets to any Debt Collector
4.) Be careful to Apply for Consolidation loans, it could be a Debt Trap!
5.) Never Pay Debt with Debt!

Remember! You have rights!!!

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Tips on how to take control of your finances

Live according to strict budget
Compare Quotes for more competitive pricing from Banks / Insurance companies
Analyze your bank statements
Cut back on small things
Make use of loyalty points
Make use of shopping lists
Find different means of entertainment
Reuse and recycle
Invest wisely
Try and avoid making debt

FAQ'S

WHO QUALIFIES FOR DEBT REVIEW?

As stipulated in the NCA : To assist an over indebted Consumer , or a person who is not currently over indebted but is experiencing or is likely to experience difficulty in meeting his or her obligations under his or her credit agreements in a timely manner.
Consumers in arrears with any credit agreement, where Legal action has not yet commenced.

HOW CAN WE HELP YOU TO HAVE MORE FUNDS AVAILABLE FOR LIVING EXPENSES?

By significantly reducing your monthly Instalments and Interest rate
Stop harassment and phone calls from Creditors and Debt Collectors
Restructure Arrear amounts
Prevent and stop legal action and repossession of assets

WHAT ARE THE 'RULES' FOR DEBT REVIEW?

You have to PAY every month!! NO SKIPPING PAYMENTS!
No more Credit until all debt has been settled
This is NOT a bad thing as it will discipline you to stick to budgets and be financially independent !!

WHAT ABOUT MY ITC REPORT?

Huge Misconception about being under Debt Review!!!

You WILL NOT be blacklisted or get a bad name on your ITC Report for being under Debt Review!!
Creditors will however flag you as being under Debt Review and will refuse you any further credit until all debt has been settled in full

HOW DO I CLEAR MY NAME AGAIN?

Once all debt is settled in full, a Clearance Certificate is issued and sent to all Creditors and Credit Bureaus, they have to update their systems and remove Debt review flag and that will in turn “unblock you”. Your ITC Record will not reflect a Debt Review status after that!

While paying under Debt review, you will actually build up a good credit record again!

WHAT DO I NEED TO BEGIN?

Copy of ID
1 Payslip / proof of Income
30 – 45 Minutes for Consultation and Assessment
Sign Application / Debt Review Forms
Nationwide assistance via Email / Fax

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