The promulgation of the National Credit Act in 2007 gave birth to the profession of Debt Counselling. Debt Counselling offers an alternative remedy to over indebted clients than what the traditional methods such as Administration and Sequestration could offer .Debt Counselling provides a tool whereby a consumer is rehabilitated back into the credit market, while keeping his/ her dignity intact. We all endure hardships like divorce, death of spouse, retrenchments, demotions and many more.

Don’t lose valuable assets like your home, vehicles, etc etc. We can HELP!!!

How it works

	Step 1 You, as the Consumer responsible for the repayment of your Debt, has to come to the realization that you need assistance to deal with your situation and take the first step of utilizing the expertise of Consumer Wise to rehabilitate yourself as soon as possible while still being able to provide a decent existence for your dependents.
	Step 2 During a face to face consultation at your nearest Consumer Wise office, the Debt Counsellor will do an initial assessment to check whether you are over – indebted by using your  personal income as well as your spouse income (if married in community of property), your current monthly budget as well as your Debt Commitments and complete the necessary documentation.
	Step 3 During the consultation the Debt Counsellor will verify your budget and your existing debt commitments. A new budget will be agreed and the amount available for debt repayment will be determined. The Debt Counsellor will also provide you with details of all the costs as well as an interim repayment plan
	Step 4 The Debt Counsellor will contact all your Credit Providers as well as the Credit Bureaus to verify your debt and to notify them that you have applied for Debt Counselling. You will be listed on the Credit Bureaus to indicate that you are under debt counselling (not blacklisted!) This listing will stay until the Debt is settled.
	Step 5 Using the Certificates of Balance provided by the Credit Providers, a decision is taken to accept or decline your application for Debt Counselling. If accepted, your Creditors will be notified with a Form 17.2 letter and a repayment proposal is drafted. Should all your Creditors accept the proposed repayment plan, a Consent Order will be obtained from the National Consumer Tribunal (NCT). Should some of your Creditors reject our proposed repayment plan, the plan will be submitted at the Magistrate Court in the district you reside in for a decision.
	Step 6 The Debt Counsellor will provide you with a final repayment plan and this repayment plan is also submitted to a Payment Distribution Agency (PDA). The aim of this is to collect a single payment from you and ensure that the correct amount is paid to all Credit Providers on a monthly basis. This will continue until the debt has been repaid.

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