Benefits of Debt Review, the National Credit Act and duties of the debt client

The benefits of Debt Review

  • One Affordable repayment plan
  • No more multiple debit order
  • Lower interest rate  negotiated by debt counselor
  • All installments reduce up to 50%
  • Legal and asset protections
  • No more harassment from creditors
  • Suitable house hold budget
  • Clear credit record after completing debt review 

Objectives of the National Credit Act

  • Provide all SA with access to credit
  • Protect consumers  from reckless credit providers
  • Prevent creditors from taking reckless credit decisions
  • Assist consumers who is over-indebted

Duties of the debt client

  • While under  debt review the client may not apply for new credit agreement
  • The client must comply with the instructions provided by the debt counselor
  • Should the client act outside of the instructions his debt review may be terminated
  • when a debt review is terminated  and all protection provided by the act will be fall away

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