Consumer Credit Counselling
- Improved Credit Record
- Clearance Certificate
- Become Debt Free
[Accessed April 17, 2023]
About Consumer Credit Counselling
If you’re drowning in debt, Consumer Credit Counselling is a solution you should consider.
Debt Counselling is a service provided by the Consumer Credit Counselling agency and is regulated by the National Credit Regulator based in Johannesburg. Their primary function is to help you get out of debt as quickly and affordably as possible.
When are you over-indebted?
If 60% or more of your monthly income is spent on paying bills or if your monthly expenses exceed 80% or more of your monthly income, you’re probably over-indebted. In this case, you should consider reducing this through debt counselling.
Have you found yourself borrowing money to repay creditors? Do you juggle payments because you simply cannot afford to pay everyone who needs to be paid every month?
If so, you may be over-indebted and should look at Consumer Credit Counselling as a viable solution to help you become debt free.
How does debt occur
You may have gotten into debt through bad choices like gambling or an over-indulgent lifestyle. Perhaps your debt is a result of accumulating credit or micro-loans.
Whether poor financial planning was the cause or the investments you had lost money due to poor market performance, it really doesn’t matter. The Consumer Credit Counselling agency can help you pay off all your debt at an affordable rate while you get on with your life.
Future credit facilities
Once you’re completely debt free you’ll be able to obtain credit again. However, while you’re going through debt counselling you won’t be able to access credit from any financial institution. The main purpose of this process is to get out of debt and stay out of debt.
Consumer Credit Counselling Services
The Consumer Credit Counselling agency is regulated by the National Credit Regulator. They provide debt counselling services that help consumers who are struggling to get out of debt.
They can help with advice on budgeting, how to negotiate a payment arrangement with creditors, and how to restructure your payments to get out of debt. They also provided a free credit report and did a debt assessment for you - completely free of charge.
Understanding debt, the law, and debt counselling
They’re also able to provide other services and educational programs related to debt counselling and the debt counselling process. They can also provide help in getting to grips with regulatory frameworks like the National Credit Act to help you know and understand how these processes work.
Last but certainly not least, they investigate your credit agreements, including garnishee orders. They can provide a credit report and can give you a workable credit solution plan.
Applying for debt counselling
Once you apply for debt counselling, they’ll begin the process of notifying your creditors and the credit bureaus. They’ll inform them that your financial situation has changed and that you’re now under debt review.
Your creditors will provide the Consumer Credit Counselling agency with a complete list of all your outstanding debt balances. Once your debt counsellor has this complete list they’ll draft a proposal which they’ll confirm with you. This proposal will be sent to your creditors.
All creditors listed in the counsellor’s proposal will form part of your debt review process. You’ll then start the repayments as per the payment plan proposal. The last step in the process is that your debt counsellor will apply to get the proposal made and an order of the court. There’s a service fee applicable to this process which is clearly outlined in the application process. This is your first step to becoming debt free.
Consumer Credit Counselling – Debt counsellor
- Loan Type Debt counselling
Benefits of Consumer Credit Counselling
- Achieve financial freedom
- Credit repair plan
- Free debt assessment
How the Consumer Credit Counselling debt review process works
When you apply to the Consumer Credit Counselling Agency to assist you in getting out of debt, they’ll send a notice to your creditors and the relevant credit bureaus informing them that you’ve started the debt counselling process.
This first step in the process prevents you from accessing more credit. It also prevents your creditors from initiating any legal action against you.
Sticking to your new repayment plan
The most critical part of this process is to ensure you stick to the Credit Consumer Counselling Agency’s payment arrangements proposal.
This proposal will include budgetary advice and monitoring of payments. In addition, they’ll negotiate with your creditors and restructure payments, giving you the best possible opportunity to repay your debts and remain debt free.
Your debt repayment plan can last between 24 and 60 months depending entirely on your personal debt. Sticking to your monthly repayment obligation will ensure that your creditors don’t take any legal action against you.
Defaulting on a repayment plan could result in the debt counselling process being terminated and you could find yourself in a worse situation.
If you are married in the Community of Property your spouse will need to give permission for this process to be started. Consumer Credit Counselling can explain the benefits to your spouse on your behalf as it’ll impact the finances of the household.
Applied for debt review in the past?
If you applied for debt counselling previously but did not go through with the process, you may already be registered at the credit bureaus. Consumer Credit Counselling can assist you by obtaining a letter of transfer from your previous debt counsellor.
Already listed accounts
Consumer Credit Counselling can certainly help you with already listed accounts. In some cases, the debt collector will allow the account to be included in the debt review process.
However, this is not guaranteed, and a separate arrangement may need to be made on your behalf outside of the debt review process.
Customer Reviews & Testimonials
I was drowning in debt and did not know how to go about settling it without another loan. My mother suggested I file for debt counselling and I approached Consumer Credit Counselling for help. Th...
— Alberton —
The staff at Consumer Credit Counselling is so friendly and knowledgeable. The consultant assisted me with everything I needed to know in order to apply for debt counselling. I’m so relieved that...
— Port Elizabeth —
I would like to take this opportunity to thank Consumer Credit Counselling for standing by me through the entire debt counselling process. They’ve made my life easier and I now worry a lot less t...
— Kuruman —
Consumer Credit Counselling Contact
- 010 001 2539/8
- 086 550 9542
- Office No 10 29 Rhodes Avenue Florida Roodepoort 1710 South Africa
- Get Directions
- Monday 08:00 – 16:30
- Tuesday 08:00 – 16:30
- Wednesday 08:00 – 16:30
- Thursday 08:00 – 16:30
- Friday 08:00 – 16:00
- Saturday – By Appointment Only
- Sunday – Closed