Debt Management Counselling And Advice In South Africa


When opening accounts and taking on debt we hardly ever stop to think about whether or not we are going to be faced with financial hardships in the immediate or even distant future. Of course when opening accounts at the various stores, we are not told to stop and think about this either.

With the introduction of the Credit Act it has been made possible for over indebted consumers to seek out debt management services or debt relief in an attempt to get expenses settled, while avoiding being black listed.

There are a vast number of debt management companies servicing the South African market due to the fact that so many individuals find themselves taking on too much credit or digging themselves into a hole of debt.

If you find that you aren’t able to properly afford your monthly expenses then it is certainly time to chat to a debt management consultant who is well versed in the Credit Act, your rights as a consumer and how to gain the best repayment rates once you consolidate all your debts. A debt management counsellor is the person who will ensure that you are able to get back on your feet and clear your credit record in anticipation of your future.

There are a number of steps involved when seeking debt management assistance as follows:

  • Step 1: Make contact with your local debt management team and discuss your financial status with them.
  • Step 2: Relevant credit records are drawn in order to ascertain financial status. A list of expenses and income is also included in this.
  • Step 3: If you are unable to restructure your budget in order to afford your expenses, a proposed repayment schedule will be set in place and presented to your creditors.
  • Step 4: Agreements are drawn up between you and your creditors and you and your debt management consultant.
  • Step 5: A debt relief loan is granted and your debts settled.
  • Step 6: A monthly debit order is set up to ensure that your loan is paid every month and on time.


If you are looking for debt management assistance then take the time to consider your options and ensure that the above steps are followed.


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