DEBTCOR Professional Debt Consultants Process


The old adage is that two things in life are certain: death and taxes. If only it were that simple. Nowadays we can add many things to that list - financial stress being one of them. The recession may be officially over, but the fact of the matter is that many of us are still feeling the pressures of not having enough money to meet all of our financial obligations.

As such the DEBTCOR Professional Debt Consultants process in South Africa is rising in demand as people find that the debt they once turned to for help is now proving their worst enemy. Unfortunately most people are uninformed about the debt counselling process. The National Credit Act 34 of 2005 was established to protect the growing number of over-indebted people who were previously left to the mercy of their creditors.

The Act created regulated debt counsellors who provide expert assistance to consumers with the goal of helping them meet their debt obligations. These debt counsellors take an intermediary role between the creditor and the consumer and help to negotiate a monthly repayment amount that is affordable. They also make a detailed examination of their client’s income and expenditures in order to help them prioritise and reorganise their spending.

The introduction of the DEBTCOR Professional Debt Consultants process has now given the over-indebted consumer protection against creditors who want to take legal action against them. Letters of demand and notification of being handed over to a debt recovery agency can be terrifying for anyone already struggling with their finances. The threat of legal action only increases the stress they already feel.

Debt counsellors step in when they are approached by people in such situations. Once they receive the application for debt review they will notify all of the creditors. The consumer then finds protection under the National Credit Act against any legal action. The counsellors will help to restructure their client’s finances and their repayment obligations in such a way as to make them affordable and realistic.

The DEBTCOR Professional Debt Consultants process has brought hope to many people who have felt the crippling pressure of over-indebtedness. It exists to help consumers face the reality of financial pressure whilst taking the necessary steps towards a debt-free life.

Should you need any further information on the DEBTCOR Professional Debt Consultants process in South Africa or require the services of a proven and professional debt counsellor, contact Balance Your Debt.


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