Debt Review Relief SA

Stuck with "Debt Under Restructure" on your report?
That means you’re in debt review.
Under the NCA you CAN exit with a Form 19 if you qualify.
Comment "FORM19" or WhatsApp me for free check.

Let's advice each other on how to enjoy festive season 🎅🌲on low budget...without breaking the bank.

Let us clear your name

Let us assist you with your Prescribed account's that are reflecting negatively on your credit report

- Prescription doesn't clear the debt immediately; creditors can still try to collect
- It can negatively impact your credit score
- Some debts don't prescribe (e.g. government debts, student loans)
- Acknowledging the debt or making a payment can reset the prescription clock

- Prescription doesn't clear the debt immediately; creditors can still try to collect
- It can negatively impact your credit score
- Some debts don't prescribe (e.g. government debts, student loans)
- Acknowledging the debt or making a payment can reset the prescription clock

Debt review can be a good option if you're struggling with debt and can't afford your monthly payments. Here are some pros and cons to consider:

Pros:
- Protects you from legal action and harassment from creditors
- Can help prevent blacklisting and repossession
- One monthly payment makes it easier to manage your debt
- Gives you a clear plan to become debt-free

Cons:
- Can affect your credit score
- Not all debts can be included (e.g. mortgage or secured loans)
- Fees apply for the debt review process
- It's a formal process that requires commitment

In South Africa, debt review is regulated by the National Credit Act. It's best to consult with a registered credit counselor to determine if debt review is right for you.

Here are some key facts about credit scores:

- A credit score is a 3-digit number (ranging from 300 to 850) that represents your creditworthiness.
- Credit scores are calculated based on your credit history, payment behavior, and other factors.
- In South Africa, credit scores are managed by credit bureaus like TransUnion, Experian, and Compuscan.
- Factors affecting credit scores include payment history, credit utilization, credit inquiries, and credit age.
- A good credit score can help you qualify for loans, credit cards, and better interest rates.
- You can check your credit report for free once a year from each credit bureau.

Write it off, move on!

Here are some eye-opening facts about debt review:

1. Debt review can severely impact credit scores: A debt review flag can lower your credit score significantly, making it harder to get credit in the future.

2. It's not a quick fix: Debt review is a long process that requires time, patience, and discipline.

3. Not all debts are covered: Some debts, like mortgage bonds, may not be included in debt review.

4. Creditors can still take action: Even with debt review, creditors can still take legal action if they choose to.

5. Debt review affects future credit: A debt review record can remain on your credit report for years, impacting future credit applications.

6. It's essential to get professional help: Debt review involves complex legal and financial processes, making professional guidance crucial.

7. Debt review is not debt counseling: Debt review is a formal process under the National Credit Act, while debt counseling is a broader term.

8. You may still have to make payments: During debt review, you may still need to make payments to creditors as per the agreed-upon plan.

Here are some points about Debt Review:

1. Debt review can help avoid legal action- By applying for debt review, you can temporarily halt legal action from creditors.
2. Debt review can reduce payments- A debt counselor can help negotiate reduced payments with creditors.
3. Debt review can consolidate debts- Multiple debts can be consolidated into a single monthly payment.