What is Debt Review?
Debt review (also called debt counselling) is a formal, legal process established by the National Credit Act (NCA) to help over-indebted South Africans regain control of their finances.
When you enter debt review, a registered debt counsellor negotiates with your creditors to:
- Reduce your monthly repayments to an affordable amount
- Lower interest rates on your debts
- Extend repayment terms so you pay less each month
- Protect your assets (car, home) from repossession
How Does Debt Review Protect You?
Once you're under debt review, you receive legal protection under Section 86 of the National Credit Act:
1. Creditors cannot take legal action against you
2. Your assets cannot be repossessed while you're paying
3. No more harassing calls from debt collectors
4. One affordable payment replaces multiple debt payments
Do You Qualify for Debt Review?
You may qualify if:
- You're employed or have a regular income
- You're struggling to pay all your debts each month
- You haven't been blacklisted or had a judgment against you
- Your total debt payments exceed what you can afford
What Debts Can Be Included?
Debt review covers most credit agreements:
- ✅ Personal loans
- ✅ Credit cards
- ✅ Store accounts
- ✅ Vehicle finance
- ✅ Home loans
- ❌ SARS debt (tax)
- ❌ Maintenance payments
The Bottom Line
Debt review is not about running away from debt—it's a responsible, legal solution that helps you pay what you owe while protecting your family and assets.
If you're drowning in debt and don't know where to turn, debt review could be your lifeline.
---
Ready to find out if debt review is right for you? Book a free consultation with Charlé Lombard, NCR registered debt counsellor (NCRDC4243).