Debt Counselling – We’re here to help
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!
Read Karabo’s story below-
The story you are about to read could very easily have been a horror story, but instead I want to tell it as a story of hope and victory over my circumstances. I was born in 1990 to the best parents one could wish for. Despite us being poor, as my father was a General labourer and my mom a Domestic servant, I still finished my Matric in 2008 with 5 distinctions and won a bursary for tersiary education.
Four years later, I graduated from Wits with a BCom degree and was offered a position at one of the powerhouse companies in South Africa. Life was good!!! Competitive salary, lucrative career, etc, etc.
I was on a first name basis with my personal banker, and getting credit was as easy as picking up my phone. The first item I spoiled myself with, was a car that complimented my status as a Buppy (Black upcoming professional person), as we were known then!
Then came the furniture accounts, overdraft facility, credit cards, clothing accounts etc, etc! Before I knew what hit me, I was knee deep in Debt! Although I was earning an excellent salary, I was on the brink of bankruptcy!!!
Fortunately, I stumbled upon an advertisement for Consumer Wise Debt Counsellors. I decided to make an appointment with them and was consulted by a NCR registered Debt Counsellor. He assessed my situation and drew up an affordable repayment plan.
Although the repayment terms vary from person to person and case to case, my Debts were settled within 36 months. My name was cleared and I was able to rejoin the mainstream economy with a clear Credit record. I am convinced that, without Consumer Wise’s assistance, I would have lost everything I worked for.
Thank you Consumer Wise!
What is Debt Counselling?
Debt Counselling is a product where we assist you as the client to combine all your debts into one affordable instalment. We negotiate for lower interest rates and instalments in order to get you as the client debt free in the shortest possible term.
Who Regulates the Debt Counselling Process?
We are regulated by the National Credit Regulator. NCR Contact Details – 011 554 2600
Who is Consumer Wise?
Consumer Wise was established in 2008. We have 4 registered Debt Counsellors with offices in Vereeniging (Head Office), Johannesburg, Pretoria and Durban. Since 2008 we have assisted over 20 000 clients to become debt free. Consumer Wise is one of the Top 5 Largest Debt Counsellors in South Africa.
Should your spouse apply with you?
If you are married in community of property, you and your spouse must apply for Debt Counselling together, as the law sees your joint estate as one single estate.
How will your credit report be affected?
Your credit report will show that you have applied for debt review until a clearance certificate is issued. When all your debts are paid, a clearance certificate will be issued, and all history of Debt Counselling will be erased from your credit report.
Can you access more debt?
No. You cannot and may not apply for any further credit while under Debt Review. This means you cannot use your overdraft, credit cards, retail accounts or any other type of debt. If you apply for further credit while under Debt Review, your application will be cancelled.
Can any of your accounts be excluded from Debt Counselling?
If you have received a letter of demand or Summons for a specific account before you sign this Form 16, the credit provider can require the account to be excluded from Debt Counselling.
How long will the whole process take?
According to the National Credit Act, you should have a payment plan and a Court Date within 60 working days (about three months). The actual Court Date will depend on the specific Court.
