Cyber Finance

Cyber Finance eligibility and required documents

Meeting the basic age, residency and income requirements does not establish whether debt review is appropriate. The assessment must consider your credit commitments and reasonable household expenses to determine what you can sustain. A poor credit score alone does not disqualify you.

Cyber Finance’s document guidance identifies the following records:

• South African ID, current contact details and proof of address where requested.
• Recent payslips or other income evidence, supported by bank statements.
• Statements for loans, credit cards, store accounts, vehicle finance and other debts.
• A household budget covering essential costs, dependants and shared expenses.

Self-employed applicants can provide bank records, invoices and payment confirmations. Ask which statement periods are needed. Disclose collection notices or court papers promptly: an agreement already being enforced under section 130 of the National Credit Act may be excluded from a new debt review application.

Who should consider Cyber Finance?

Cyber Finance may suit someone whose income no longer covers essential living costs and contractual debt repayments, but who can maintain a reduced payment. Its strongest practical feature is combining creditor negotiations with management of the repayment arrangement.

If the difficulty is temporary, ask creditors about hardship arrangements and consider budgeting support before entering a formal legal process. With no reliable repayment capacity, a debt review plan may be unworkable.

A debt consolidation loan is a separate option involving new credit and affordability checks. It is only worth considering when the full cost and repayment commitment improve your position. Compare debt counselling providers on written fees, realistic budgets and ongoing support.

Questions to ask before signing

• Who is the registered debt counsellor responsible for my case?
• Is this assessment free, and when does a formal debt review application begin?
• Which accounts are included, excluded or already subject to enforcement?
• What does each of my first three payments cover, and when will creditors receive money?
• What are the total fees, insurance premiums, repayment period and projected amount paid?
• Which interest reductions are accepted, and which remain proposals?
• What happens if my income falls, I want to transfer counsellors or I qualify for clearance?

Cyber Finance advantages and limitations

Advantages

• Verifiable registration: The NCR register identifies the individual trading as Cyber Finance.
• Existing-debt support: Assessment, creditor negotiation and repayment administration address the accounts causing financial pressure.
• Accessible contact routes: Telephone, email and WhatsApp channels are published.

Limitations

• Incomplete public pricing: A personalised written quote is needed to establish the full cost.
• Assessment-fee ambiguity: The free-assessment advertising and conditional fee wording need reconciliation.
• Restricted credit access: Formal debt review affects further borrowing and use of existing credit facilities.
• Conditional outcomes: Reduced instalments, interest concessions and protection from enforcement depend on the circumstances and compliance with the arrangement.

Cyber Finance fees, interest and total repayment

Provider pricing: The service pages advertise a free initial assessment and say fees are included in the monthly repayment. However, the terms permit an initial assessment fee where applicable. Neither those terms nor the fee article dated 2 September 2026 supplies a complete priced schedule. Obtain written confirmation before authorising chargeable work.

NCR fee guideline: a comparison reference

The NCR’s 2018 fee guideline lists the following amounts, excluding VAT where applicable. These are regulatory reference figures, not confirmed Cyber Finance charges:

• Application: R50.
• Administration: R300 per application.
• Restructuring: The first repayment amount, limited to R8,000 for a single application or R9,000 for a joint application involving spouses married in community of property, whichever is lower.
• Aftercare: 5% of the distributable amount, capped at R450 monthly.
• Other costs: Applicable legal and PDA charges require separate confirmation. Magistrates’ Court legal fees must be negotiated and agreed upfront in writing.

Interest, insurance and the full cost

Debt counselling does not replace every account with one interest-free loan. Obtain the revised rate, balance, instalment and term for each creditor. A smaller monthly payment can extend repayment and increase total interest unless concessions offset that effect.

No uniform compulsory insurance premium was verified for this service. Ask which existing credit-life or asset policies must continue and whether proposed replacement cover changes exclusions, waiting periods or benefits. Include relevant premiums in the budget.

The decisive comparison is the projected total of creditor repayments, counselling fees, legal costs, distribution charges and required insurance, with any separately paid items identified. A monthly figure alone cannot establish the saving.

Our assessment of Cyber Finance debt counselling

Cyber Finance is a relevant option for consumers who need help restructuring existing debt and can sustain a revised payment. Its strongest feature is coordinated repayment support through an identifiable registered counsellor. The main weakness is incomplete public pricing, including inconsistent assessment-fee wording. Compare the written proposal with another registered counsellor’s offer, focusing on total cost, realistic living expenses and the repayment end date.

Cyber Finance debt counselling FAQs

Is Cyber Finance NCR-registered, and what does that tell me about its service?

The NCR register lists Hans Jorg Marie Overbeek trading as Cyber Finance under NCRDC3022. Registration establishes regulatory status; it does not establish that its fees, repayment proposal or customer support outperform another provider. When comparing counsellors, identify who will handle your case, how you will receive creditor-payment statements and who takes responsibility for unresolved queries.

Does Cyber Finance settle my debts with a consolidation loan?

No. Cyber Finance’s current terms state that it does not provide credit or loans. Under its debt review service, existing debts are reorganised into a repayment arrangement; creditors continue receiving payments against their accounts. A debt consolidation loan instead involves new borrowing to settle existing balances. One combined monthly payment does not, by itself, mean you have received a consolidation loan.

How should I compare Cyber Finance’s fees and repayment proposal with another counsellor’s?

Request written proposals based on the same debts, income and household expenses. Compare total monthly outgoings, once-off charges, ongoing fees and each account’s completion date. Include legal costs, payment-distribution charges, VAT where applicable and required insurance. Ask how the first three payments are divided between fees and creditors.

Cyber Finance advertises a free assessment, but its terms allow an assessment fee “if applicable”; obtain written clarification. Its published three-to-five-year repayment estimate is not a personalised timetable. A lower instalment may reflect a longer term rather than a lower total cost.

Can I qualify with bad credit or an irregular income?

Cyber Finance says a poor credit record does not disqualify applicants, while its terms require verifiable income. Its document guidance accommodates self-employed and variable-income applicants through bank records, invoices and payment confirmations. Acceptance still depends on assessment. If earnings fluctuate, ask what income figure supports the proposed payment and whether the budget remains workable during lower-income months; a plan based on your strongest month may be difficult to maintain.

Will contacting Cyber Finance affect my ability to use credit?

A preliminary enquiry is different from a formal debt review application. Confirm which step you are authorising before signing or giving electronic consent. Formal application brings credit-bureau notification and restrictions under section 88 of the National Credit Act on ordinary new borrowing and further use of existing credit facilities. Do not assume that an unused credit-card limit will remain available to cover expenses during the plan.

Can Cyber Finance protect my house or car if I am already behind on payments?

Arrears do not, by themselves, establish whether an account can be included or protected. The enforcement stage matters: an agreement already subject to enforcement steps under section 130 may fall outside a new debt review application. Give the counsellor any notices, summonses or court orders and request an account-specific explanation. For included debts, protection also depends on the legal process and compliance with the repayment arrangement; a general asset-protection claim is insufficient.

What if I cannot pay, or a creditor says it has not received my payment?

These require different responses. If your income falls, contact Cyber Finance before the due date and request an affordability reassessment. A request to change the plan does not itself change your payment obligations; default can expose you to enforcement where the legal conditions are met.

If you paid, gather your bank confirmation and distribution statement. Cyber Finance’s payment guidance explains that collection, distribution and creditor posting can occur on different dates. Ask the Payment Distribution Agent to trace the allocation before making an unplanned duplicate payment.

Can I leave Cyber Finance if I am unhappy with its service?

Its terms permit termination of the service agreement by written notice, but ending that agreement does not automatically end formal debt review, cancel a court order or remove the credit-bureau flag. If the problem is service quality, ask about transferring your case to another registered counsellor and how payments, records and outstanding fees will be handled. The NCR’s March 2025 circular warns against removal promises that do not meet lawful exit requirements.

Must I repay my home loan completely before receiving a clearance certificate?

Not necessarily. Under section 71, clearance may be available when all other included debts are settled, the rearranged mortgage has no arrears and you can demonstrate the ability to meet its future repayments. Otherwise, clearance generally requires settlement of all obligations covered by the rearrangement.

Ask Cyber Finance which settlement records it needs and who will arrange the credit-bureau update. The legislation requires the certificate within seven days after the qualifying conditions are met, followed by submission to registered credit bureaux within seven days of issuance. Clearance does not establish eligibility for a new loan.