Debt review is a legal process designed to help over-indebted South Africans regain control of their finances. By working with a debt counselor, your monthly debt repayments are restructured into an affordable payment plan that fits your budget. This process provides protection from creditors, preventing them from taking legal action against you while you work towards financial stability. Debt review is a valuable tool that allows you to meet your financial obligations without sacrificing your essential living expenses.
Debt review consolidates your debt into a single, reduced monthly payment, making it easier to manage your finances.
Once under debt review, creditors cannot take legal action against you, giving you peace of mind while you focus on repayment.
Your interest rates are fixed, ensuring that your repayments remain predictable and stable throughout the debt review process.
A dedicated debt counselor will work with you to create a personalized plan, guiding you through every step of the debt review process.
To qualify for debt review, you must have a stable monthly income of at least R10,000, ensuring you can meet your restructured payments.
Your total outstanding debt must be at least R20,000 to be eligible for debt review, making it a viable option for those with significant debt.
