Freedom Debt Counsellors
- Pay lower installments
- Regain financial freedom
- Protect your assets
[Accessed April 17, 2023]
About Freedom Debt Counsellors
Registered on the 12th of March 2015 with the National Credit Regulator, Freedom Debt Counsellors are a committed group of debt counsellors.
They want to help you work out a plan to ease your debt burden. With the right approach, they can help you relieve stress and get out of debt.
They offer many workable debt solutions, such as credit counselling, debt review advice, and financial planning solutions. The company is based in Johannesburg but services are available all over the country.
About the managing partner Morne Olivier
Their managing partner is Morne Olivier, who is very experienced, having had 7 businesses and provided employment to more than 150 people. He has significant experience in the insurance, IT, financial accounting and legal industries. And with more than 23 years of experience as an entrepreneur, Morne is more than capable of helping you get out of debt and remain debt free.
He has the professional attitude and the extensive financial knowledge necessary to truly understand your needs and deliver outstanding service, debt relief plans and debt support. These services can make all the difference and can give you the peace of mind you need. Morne is registered with the National Credit Regulator (NCR) and is trained in debt counselling, unlawful credit agreements, and the National Credit Act.
Understanding Debt Review
Debt counselling or debt review is a legally regulated debt solution, adopted by the National Credit Act of 2007. Debt review is a process intended to help clients who are struggling to pay their debts.
A debt counsellor will speak to your creditors and make arrangements to reduce interest, fees and minimum repayment amounts. Your payments will be reduced into a more manageable monthly sum. The main aim is to work out a payment plan that you can afford and that the credit provider can accept.
Freedom Debt Counsellors Services
Debt counselling is a formal debt rehabilitation programme, explicitly initiated by the NCA to stop people from going into personal administration and dealing with the after-effects.
The debt review process lets consumers enter into a repayment plan and come out debt free again.
- Freedom Debt Counsellors don't charge upfront
- Your instalments can be reduced by up to 50%
- You pay one affordable instalment per month
- You'll have enough money left afterwards to live on
- Freedom Debt Counsellors will communicate with your creditors
- Your assets, like your home or car, are protected
- You avoid legal costs from your creditors
- Your credit record is restored
- You're treated with the greatest confidentiality
- You regain your financial freedom
- Free call back in 2 business hours
Possible reductions in instalments
- Bond instalments can be reduced by up to 20%
- Car repayments may be reduced by up to 30%
- Personal loans, credit cards etc may be reduced by up to 60%
Debt review, yes or no?
When you undergo debt review, the credit bureaus are informed. This will prevent you from getting any more credit as the main point of debt review is to help you clear debt. Since its introduction in 2007, it has helped thousands of people, rescuing debt-burdened consumers who might otherwise have faced severe hardship.
How debt counselling works
The debt counsellor is the middleman between you and your credit providers. You’ll benefit by paying a lower, affordable monthly payment. This is made possible by extending your loan terms and bringing interest rates down.
You can ask your debt counsellor if they’ll make use of the DCRS system, which is a system which can drop interest rates for unsecured debt right down to zero per cent, saving you a great deal of money.
Freedom Debt Counsellors – Debt counsellor
- Loan Type Debt counselling
Benefits of Freedom Debt Counsellors
- Protect your assets
- One affordable monthly instalment
- No up-front costs
Freedom Debt Counsellors can help you become debt-free
Applying for debt review can be confusing because there are specific timelines that have to be followed and a lot of administration.
Freedom Debt Counsellors' expert counsellors remove the frustration and worry, giving you peace of mind.
The 11 steps to debt review:
- Contact Freedom Debt Counsellors to ask about an application and they'll send it to you via post, fax or email. The document is called a form 16.
- Your creditors and the credit bureaus will be informed that you’ve applied for debt review. This is called Form 17.1.
- They'll request your credit providers to send the Certificate of Balance (COB).
- Once they receive all the COBs, they'll work out if you’re over-indebted i.e do your expenses exceed your monthly income? (You must be over-indebted to qualify for debt review).
- They’ll do an affordability calculation. This will provisionally decide the amount available to creditors.
- Provisional proposal: they'll structure a payment plan for you and begin negotiations with your credit providers. This is form 17.2 ( you'll now start paying a provisional reduced monthly instalment to all your credit providers which are more affordable to you. In the first 60 days, no legal action may be taken against you concerning your debts which are under review).
- Your credit providers are now allowed to assess the provisional proposal.
- They'll send a final proposal to the credit providers.
- Credit providers may accept the final proposal or reject it.
- Their lawyers will formalise your debt restructuring proposal with a court order. You won't have to go to court because your debt counsellor will be applying for you unless the magistrate requires you to be there.
- They'll make sure your creditors stay happy and you’re well on the way to becoming debt free. Once you're free of debt (except for your home loan), they'll issue you with a clearance certificate and you'll have no record at any credit bureaus.
Debt review usually takes 3-5 years to complete
Freedom Debt Counsellors are rated no 6 in the Trust Index, Financial Services and with HelloPeter. Freedom Debt Counsellors is a past winner of the Debt Review Awards and in the top 10 in the Debt Review Awards 2020.
With Freedom Debt Counsellors you’ll have excellent support, fast, professional service and honest, timely feedback. Once you’re debt-free, they truly share in your happiness.
Freedom Debt Counsellors is a trusted & reliable provider of debt counselling
Customer Reviews & Testimonials
I would like to take this opportunity to thank Freedom Debt Counsellors for the outstanding service they delivered with my debt review. I am so pleased to have them on my side. I can finally brea...
— Uitenhage —
Thanks to Freedom Debt Counsellors I can proudly say that I am finally debt free. I was afraid that I would lose my house but they assisted me with debt review and I was protected against legal a...
— Springs —
Filing for debt review from Freedom Debt Counsellors was the best decision that I’ve ever made. They assisted me professionally and helped me to be debt-free in no time.
— Oudtshoorn —
Freedom Debt Counsellors Contact
- 0100 350 883
- 011 764 5743
- Savannah Office Park 1st Floor, Palm Building Corner 9th Avenue & Rugby Street Weltevreden Park Roodepoort 1709 South Africa
- Get Directions
- P.O. Box 2519, Wilropark, 1731, South Africa
- Monday 08:00 – 16:00
- Tuesday 08:00 – 16:00
- Wednesday 08:00 – 16:00
- Thursday 08:00 – 16:00
- Friday 08:00 – 16:00
- Saturday – Closed
- Sunday – Closed