What is debt counselling and who can benefit
Consumers who feel the choking noose of over-indebtedness can consult a National Credit Regulator (NCR) registered debt counsellor who is qualified to offer advice on how to systematically disentangle themselves from the debt trap, advises Just van As, founder and managing director of Debt-911.
Debt-911 Debt Counsellors
Debt-911 is an independent orginisation registered with the National Credit Regulator dedicated to assisting over-indebted consumers by offering budgetary advice and support as well as mediation with their creditors.
Since the 1st of June 2007, consumers have been able to make use of debt counselling services, enabling over indebted consumers, struggling to honour their monthly payments to enter a formal debt counselling process which affords them some protection from their credit providers. Debt-911 clients will be offered information and advice on how to resolve their credit issues such that their financial situation does not deteriorate back to their pre-counselling, over-indebted position.
Consumers who feel that they are over-indebted may approach a Debt-911 directly. Alternatively consumers may be referred to a Debt-911 counsellor by their creditors or a magistrate’s court.
Consumers are protected from exploitations through published guidelines agreed to by both the Debt Counsellors’ Association of South Africa (DCASA) as well as the NCR. These guidelines set maximum fees that may be charged by debt counsellors.
These guidelines cover consumers earning more than R 2 500 (individual gross income) or household income of more than R 3 500 per month. Those consumers earning below R 2 500 will be subsidised by the NCR.
Should you wish to discuss your personal situation with a Debt-911 counsellor, please feel free to simply fill out the form alongside and one of our trained counsellors will contact you to assess your situation and offer you alternative paths to becomming debt free.