Debt review is a formal legal process that helps over-indebted consumers who are struggling to meet their monthly debt obligations. A debt counsellor approaches your credit providers on your behalf with a manageable monthly amount for a maximum period of 60 months.
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South Africa’s reliable debt management company
Debt Sage is South Africa’s most reliable and transparent debt review company. As a debt management company, we are helping our clients take back control of their finances and quality of life by applying for debt review. Debt review is also known as debt counselling.
Debt review provides a financial lifeline for many struggling to both pay for their debt as well as make ends meet. Debt review is a game-changer for those seeking financial stability and a path to debt-free living.
Debt Sage is helping over-indebted consumers in South Africa to escape their debt burdens and gain financial independence mainly by applying for debt review. Our clients are being empowered to live debt-free, create wealth, and retire with dignity. Below we explore some of the benefits of debt review and how it is a powerful tool for individuals facing overwhelming debt.
the Benefits of debt review
- Pay a reduced monthly amount that you can afford
- You save on renegotiated lower interest rates regardless of your credit score
- Consolidate debts into one manageable monthly payment
- Protection of your assets from repossession
- Protection against legal action
- Makes cash available to cover all household expenses
- Stops collection calls from credit providers and attorneys demanding payment
- Improves your money habits teaches one to save and pay cash when making any purchases
- Flexible as it allows you to make extra payments, paying off your debt faster
- The focus is on debt elimination you cannot borrow until all debt is repaid
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DEBT solutions you can live with
taking Control Made Simple: Follow These 3 Steps
First, you will provide your details to Debt Sage for a no-obligation or free assessment.
Afterward, you'll proceed to apply for debt review to shield yourself from legal action and the risk of asset repossession
Finally, you'll conclude the debt review session with a concrete plan to reduce your monthly debt repayments by up to 60%
Take the first step to take control of your finances.
Get started by understanding your financial situation.
Frequently asked questions ABOUT DEBT REVIEW
In this section, you will find answers, news articles to questions that may come up when dealing with your debts.
What is Debt Review?
WHAT IS A DEBT REVIEW CLEARANCE CERTIFICATE?
A debt review clearance certificate is a certificate that verifies that a consumer has satisfied all obligations under every credit agreement that was subject to debt review court order or debt review repayment agreement (excerpt mortgage loan).
HOW LONG WILL I STAY ON DEBT REVIEW?
The number of years one will stay on debt review depends on a number of factors and key among the factors is the monthly contribution amount and total outstanding debt.
WHAT IS THE DIFFERENCE BETWEEN DEBT CONSOLIDATION LOAN VS DEBT REVIEW?
Debt consolidation is the act of taking out a new larger loan to pay off smaller multiple loans. The goal with debt consolidation is simply to roll all your different loans or credit card payments into one single payment.
HOW DO I WITHDRAW FROM DEBT REVIEW?
Debt review removal involves a process whereby the debt counsellor issues a clearance certificate to a consumer who has finished paying off their debt that was listed as under debt review.
WHAT HAPPENS TO MY CREDIT SCORE WHILE UNDER DEBT REVIEW?
As per section 86 of the National Credit Act (NCA) No. 34 of 2005, an order for debt review given by the National Consumer Tribunal or the Court, the credit information must be retained by credit bureaus from the date of commencement of the event until a clearance certificate is issued.
CAN I GET A DEBT CONSOLIDATION LOAN WHILE UNDER DEBT REVIEW?
Under the National Credit Act (NCA) Act No. 34 of 2005, applying for a debt consolidation loan for people under debt review is deemed to be reckless lending.
WHAT ARE THE ADVANTAGES AND DISADVANTAGES OF DEBT COUNSELLING?
The National Credit Act (NCA) of 2005 introduced debt counselling as a measure to assist consumer struggling to service their debt. Debt Sage has been helping many consumers become debt free through taking advantage of debt counselling. There are numerous advantages for debt counselling and we discuss them here.
What Debt Sage Clients Say...
We’ve helped many consumers improve their financial situation over recent years. Here are some of their stories.
My business was struggling and could not meet my debt commitments every month. What made me furious was the fact that l was paying credit life insurance for the loans that I had taken. I was given 400 reasons why they could not pay off the loans as l was self-employed. I wondered why this credit provider made me pay for credit life insurance in the first place. Debt Sage fought for me tooth and nail and l was reimbursed all the payments that l had made for credit life insurance which made a huge difference in my finances. More importantly, I'm on my way to become debt-free. Thank you, Debt Sage.
Avesh, KZN
I want to thank Lynn at Debt Sage for helping me on my journey to become debt-free. I was left deep in debt because of divorce. My ex-husband did not pay off the debts we had accumulated together after the divorce settlement as he was supposed to. I had to pay for the bond as well as look after my children. This was very difficult for me since the maintenance payout was not being paid at all. Not only was the journey challenging but Lynn from Debt Sage’s hands-on approach was invaluable. She has a calm and logical method of handling things that truly connected with me. I can’t speak highly enough of Debt Sage.
Marianne, Gauteng
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WHY CHOOSE DEBT SAGE
Free consultation and
no upfront fees
Free credit report
and debt assessment
Free debt advice so that you
make the right financial decisions
Provide support
until debt is settled
Our Debt Counsellors are registered by the National Credit Regulator (NCR)
Earn R400 cash when
you refer someone to us
010 005 5350
NCR Reg No: NCR DC 1295
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