Is Debt Review Worth It? What South Africans Need to Know

One of the most common questions we get at Debt Review Centre is: Is debt review actually worth it?

Well, the answer isn’t a simple yes or no. It really depends on where you are financially. Are you facing a long-term financial problem, or is it just a short-lived cash flow hiccup? Understanding what debt review really offers can help you make the best decision for your situation.

Understanding Debt Review

Debt review is a formal debt relief process that was introduced by the National Credit Act in South Africa. It’s designed to help consumers who are over-indebted.

If you’re struggling with monthly payments and constantly juggling which debt to pay next, debt review might be the lifeline you need—especially if your situation is long-term. But it's not for everyone. If your issue is short-term, you might just need a quick budgeting solution or financial advice.

Before diving in, it's crucial to undergo a proper debt assessment by a registered and experienced debt counsellor. This helps determine whether you qualify for debt review and what your options really are.

Why Picking the Right Debt Counsellor Matters

Let’s be real—not all debt counsellors are trustworthy. A growing concern is the rise of fly-by-night operators promising the lowest monthly instalments just to onboard you as a client. Sounds good, right? But the trouble starts when those same instalments can’t even be negotiated with your credit providers...

You see, if those proposals are rejected in court, your creditors won’t just walk away—they’ll start demanding more money, putting you back into a stressful financial position.

So what should you look out for?

• Are they registered with the National Credit Regulator?
• Do they provide an upfront assessment before locking you into any agreements?
• Do they explain the process clearly and not promise “too good to be true” instalments?

If you’re not sure whether the plan you’ve been given is fair, feel free to reach out to our team here at Debt Review Centre. We’re happy to take a look and guide you through it.

Legal Protection Perks

Probably one of the biggest advantages of being under debt review is legal protection. Once you’re in the process, you’re protected from:

• Asset repossession – Your car, your home… these can’t simply be taken while under review.
• Garnishee orders – That nasty deduction straight from your salary? Debt review can put a stop to any new ones.
• Legal action from credit providers – As soon as the process starts, your creditors must back off while your proposal is in court.

Pretty powerful stuff.

Financial Relief That Feels Immediate

Now let’s talk about the juicy part—how debt review can actually help your pocket.

• It combines all your debts into one single monthly repayment.
• This amount is calculated based on what’s affordable for you and acceptable to your creditors.
• It can also reduce the interest rates on your existing debts.
• And maybe best of all—it stops those stressful phone calls from creditors chasing you for money every week.

Basically, it creates breathing room so you can get back on your feet, emotionally and financially.

So, Is It Worth It?

If you’re in a financial situation that feels like it’s not going away any time soon, then yes—debt review might be the help you need. But it’s not suitable for short-term issues or if you’re not fully committed to the process.

The key takeaway: get assessed by a reputable debt counsellor. Know your options and make sure your repayment plan is actually doable and legal.

And remember, avoiding unregistered or shady debt counsellors can make all the difference in how smoothly your journey goes.

Need Help Figuring It Out?

Contact our team at Debt Review Centre. We’re certified, transparent, and here to help you navigate your next steps with confidence.

Don't take chances—know your options and take back control of your finances today.