What are The Benefits of Debt Review?
Debt Review, also referred to as Debt Counselling, was first introduced in 2007, by the National Credit Act 34 of 2005 (NCA). The process was designed to help over-indebted consumers who were unable to pay their monthly debt payments. Debt Review is one of the most effective debt solutions for consumers who are over-indebted. Debt […]
What is Reckless Lending?
Unfortunately, it is not always possible for people to save up and buy goods for cash. Most people rely on credit to buy expensive, necessary things, like a car or a house and in some cases university fees. Despite the implementation of the National Credit Act (NCA), which effectively prohibits credit providers from granting credit […]
How Long Does Debt Review Last?
There are a number of things that determine how long the Debt Review process will last, however, on average, the process usually lasts between 36 and 60 months (3-5 years). This is because each case is unique and is dependent on what you can afford to pay. The Debt Review process is designed to lessen […]
Can My Car be Repossessed While Under Debt Review?
One of the most common misconceptions people have about Debt Review is that they believe their assets are not protected. This is, however, not the case. Debt Review actually prevents you from losing your home, car and other assets. Under Debt Review, a person’s assets are legally protected by the National Credit Act (NCA). This […]