Negociate

Negociate eligibility and required information

Negociate’s consolidation criteria specify permanent employment for at least three months, enough income after living expenses to afford the proposed instalment, and a South African bank account receiving your salary. Bank statements are requested. The page does not specify a minimum salary or credit score.

Its separate debt review criteria accept employment or another income source, including self-employment or support income, provided the proposed repayment is affordable. Applicants married in community of property must apply jointly. Bond consolidation additionally requires mortgage lender approval; qualifying for an assessment does not establish eligibility for new borrowing.

Existing debt review needs clarification: the consolidation criteria welcome enquiries from people already under debt review, but the online terms require applicants to declare they are not under debt review, administration, sequestration or a restructuring order. Contact Negociate before submitting if this applies to you; do not accept an inaccurate declaration.

Prepare your identity details, income and expense figures, account balances and bank statements. Request the exact supporting-document checklist for your route, including whether payslips, proof of address and creditor settlement statements are needed.

Who should consider these services?

Bond consolidation may suit a homeowner who qualifies for additional mortgage borrowing and can demonstrate that moving existing debts produces a worthwhile overall saving. Moving unsecured balances into a bond makes those debts dependent on your home as security. Default can put the property at risk.

Debt review may suit someone whose current repayments are unaffordable but who has income available for a restructured plan. It brings credit restrictions and requires sustained payments. Read how debt counselling works before agreeing to this route.

If your debts remain affordable, compare direct creditor arrangements and other debt consolidation options. Reconsider any proposal that reduces the instalment mainly by stretching repayment over many more years, particularly when your existing debts are close to being settled.

How Negociate’s consolidation services work

Negociate’s process explanation describes two outcomes:

• Bond consolidation: a mortgage lender provides further borrowing to settle agreed outstanding debts. You repay the increased home loan.
• Debt review: a debt counsellor assesses your finances and proposes changes to existing repayment obligations. Combining payments does not mean the original debts have been paid off.

Assessment and application

1. Complete the official assessment form or contact Negociate. The form requests identity and contact details, marital status, debt balances, instalments, income and living expenses.
2. Review the credit-report consent and terms. Negociate’s PAIA and POPIA manual explains personal-information processing and recipients, including service providers and payment systems.
3. Obtain the proposed route, responsible lender or counsellor, repayment schedule and itemised costs. Negociate says the formal application follows acceptance of its quotation.
4. Proceed only after understanding the agreement. For debt review, distinguish permission to obtain a credit report from informed consent to enter the legal process.

Under debt review, confirm the registered Payment Distribution Agent handling repayments and check monthly distributions against creditor statements. The NCR’s consumer guidance explains payment distribution and your right to written fee information.

Response time and implementation

The application page uses both “approval in 24 hours” and “response in 24 hours”, while the homepage describes possible pre-approval. Treat these as advertised initial-response claims. They do not establish a 24-hour mortgage payout, creditor settlement or completed debt review arrangement.

Repayment support and complaints

Negociate publishes 0861 555 554 and contactme@negociate.co.za. Its contact page lists weekday hours of 08:00–17:00, excluding public holidays. Report payment difficulties promptly and request written instructions; submitting an enquiry does not suspend existing repayments.

Raise service or allocation disputes with Negociate in writing. Alleged National Credit Act contraventions can be referred to the NCR complaints department on 0860 627 627 or complaints@ncr.org.za. Defaulting on a debt review repayment arrangement can expose you to enforcement action.

Questions to ask before signing

• Am I accepting mortgage borrowing or applying for debt review, and who is responsible for the agreement?
• Which debts are included, which remain outside the plan, and when will each creditor receive payment?
• What are the total repayments, final repayment date and complete fees, including VAT, ongoing administration, legal costs and insurance?
• How much of my first payments reaches creditors, and how are interest and arrears handled while setup fees are paid?
• What happens if I miss a payment, settle early, sell my home or want to leave debt review?

Advantages and limitations

• Free initial assessment: an opportunity to obtain a proposed solution and credit report before committing to the paid service.
• Two routes to assess: the service considers both mortgage-based consolidation and restructuring existing debts.
• Limited price transparency: the public consolidation pages do not provide a complete fee schedule, standard APR or representative repayment example.
• Consequential trade-offs: bond borrowing increases secured debt; debt review restricts further credit. Either approach can extend repayment, and neither removes the need to repay what is owed.

Negociate fees, interest and total cost

The consolidation cost page says pricing depends on the chosen product, amount, term and interest rate. Its statement that there are no out-of-pocket costs should not be read as a fee-free service: costs incorporated into repayments still reduce the money available to settle debt.

Bond consolidation costs

No standard mortgage rate, APR, loan amount range or complete bond fee schedule was verified. Request the lender’s quotation showing interest, applicable initiation and service fees, any valuation or bond-registration costs, and required insurance. Establish whether charges are paid separately or added to the balance, where they may also attract interest.

Published debt review fees

Negociate’s debt review fee page publishes the following charges for that route:

• Setup fee: described as an initiation fee equal to the first instalment, capped at R8,000.
• Magistrate’s Court legal fee: equal to the second instalment, capped at R6,000.
• National Consumer Tribunal route: a stated legal fee of R1,100 instead of the Magistrate’s Court charge, where this route is available.

The page places these charges within the first two months. It does not clearly state a pricing effective date, VAT treatment or a complete schedule of ongoing aftercare and payment-distribution charges. Treat these as Negociate’s published figures requiring current written confirmation, not a complete quotation or universal statutory tariff.

Insurance and the full repayment comparison

No consolidation-specific insurance premium or policy wording was verified. Ask which existing policies continue, whether replacement cover is required, and what exclusions, waiting periods and claim limits apply. Combining payments under debt review does not by itself replace existing insurance with one policy.

Compare the whole commitment: total remaining payments on your existing debts against the proposed payments, separate charges and any debt left outside the arrangement. For bond consolidation, include the effect on the existing mortgage. A lower interest rate can still produce more interest in rand terms when repayment lasts substantially longer.

Our assessment of Negociate

Negociate’s strongest feature is an initial assessment covering two distinct ways to reorganise debt. Its main limitation is that the public information cannot establish the full cost or suitability of either route. The decisive comparison is whether the written proposal delivers affordable payments at an acceptable total cost, with the property risk or credit restrictions clearly understood.

Negociate debt consolidation questions

Is Negociate’s service the same as a bank debt consolidation loan?

Not necessarily. Negociate describes bond consolidation, where a mortgage lender finances the settlement of other debts, and debt review, where existing repayments are restructured without a new cash loan. A standalone unsecured loan funded directly by Negociate was not verified. Establish which route your proposal uses: bond consolidation adds borrowing secured against your home, while debt review introduces restrictions on further credit.

How can I compare Negociate’s proposal with a bank consolidation loan?

Compare proposals covering the same debts and settlement amounts. Check total repayments, the final payment date, insurance and all fees, including amounts paid separately. For debt review, include ongoing aftercare and payment-distribution charges. For bond consolidation, compare the mortgage before and after adding the debts; a longer mortgage term can increase costs on the existing balance too. Negociate does not publish one standard consolidation rate or APR, so a lower advertised instalment alone cannot establish which option costs less.

Can Negociate help if a bank has declined my consolidation loan?

A bank decline does not rule out an assessment for debt review, but it does not establish eligibility for bond borrowing either. Negociate accepts enquiries involving adverse credit records and directs heavily indebted applicants with poor credit towards debt review. That route still requires enough income after essential expenses to support a repayment plan. Its assessment form requests permission to obtain your credit report, so this should not be treated as a no-credit-check loan application.

Can I move to Negociate if I am already under debt review?

Ask Negociate to clarify the proposed service before completing its form. Its consolidation criteria welcome enquiries from people under debt review, but its online terms require a declaration that you are not. Establish whether the proposal concerns a counsellor transfer or another legally available arrangement. Do not sign an inaccurate declaration or stop your current payments because you have requested an assessment.

What could I pay after Negociate’s free assessment?

The assessment is advertised as free and without obligation; the resulting service can carry substantial charges. For debt review, Negociate’s published fee page lists a setup charge equal to the first instalment, capped at R8,000. It lists a Magistrate’s Court legal charge equal to the second instalment, capped at R6,000, or R1,100 for the National Consumer Tribunal route where applicable. Confirm current amounts, VAT, ongoing fees and how much of the first two payments reaches creditors. These figures are not a bond consolidation quotation.

Does Negociate’s advertised 12–84-month term cover every debt?

The range appears on its assessment page, but it does not establish a repayment term for every proposed arrangement. Request an account-by-account schedule showing which debts are included, their settlement dates and any payments continuing outside the plan. Pay particular attention to the home loan: completing other repayments does not necessarily mean the mortgage is settled. When comparing providers, check whether a shorter advertised term excludes debts another proposal includes.

How much could Negociate’s advertised settlement discount actually save me?

Negociate advertises early-settlement discounts of up to 20%, but this is not a confirmed reduction across your entire debt balance. Ask which creditors have agreed, what balance each discount applies to, and when payment must arrive. Obtain written settlement figures and compare the saving with the interest and fees needed to fund those settlements. A discount on an old account can be outweighed by the cost of financing it over a longer period.

Will choosing Negociate affect my ability to use credit cards or borrow again?

The proposed route matters. Debt review generally restricts further borrowing and additional spending on credit facilities; the NCR explains these restrictions. Ask whether any document you sign is a formal debt review application rather than an assessment or quotation. Bond consolidation does not itself place you under debt review, but future lending remains subject to assessment, and reusing settled credit facilities can leave you with both the increased mortgage and fresh unsecured debt.

Will Negociate clear adverse credit records once my debts are consolidated?

Consolidation should not be treated as an immediate credit-record clearance service. Settling an account, correcting an inaccurate entry and obtaining debt review clearance are different processes. Ask which records will change, what evidence will be supplied and who will follow up with the credit bureaus. Under debt review, clarify the requirements for a clearance certificate. Neither a paid-up account nor completion of debt review automatically establishes eligibility for another lender’s loan.