Debt Counselling Pretoria

We specialise in Debt Counselling in Pretoria. Our debt counsellors are helping consumers in Pretoria who are struggling to service their debt. Debt Sage is a leading debt counselling firm. We take applications across South Africa. If you own a property and motor vehicle, you do not have to wait until you lose your assets to act. At the first sign of trouble, call Debt Sage debt counsellors to seek help.

Signs That one Needs Debt Counselling

Burying your head in the sand will not help the situation. Individuals that let debts build up before they seek advice often find:

·         They cannot pay their monthly debt obligations in full or at all

·         Their credit cards are maxed out

·         They take new credit cards to pay off old credit cards

·         They take too many micro loans to pay off old personal loans

·         Things have spiralled out of control

·         No one else or (creditors or family) will lend to them, and

·         It takes much longer to pay back what they owe

Our Debt Counsellors will never judge you or make you feel bad about your financial situation. We are always happy to talk to you, however big or small your problem might be. We will together find ways to manage your debts even if you think you have no spare money and I some cases suggest ways to deal with debts that you might not know about. Many consumers wait until it is too late. If you have received summons, it becomes difficult for the debt counsellor to take remedial action.

Debt Counselling Process Explained

Debt Counselling allows the debt counsellor to approach the credit providers on the consumer’s behalf and renegotiate all the credit agreements to levels that the consumer can afford. Property and motor vehicles can be protected from repossession once the consumer acknowledges that they are in trouble and seek help from Debt Sage. It is important not to ignore any letters from the credit providers.

Our Debt Counsellors will do the following in-order to assist you. We first must do a free financial health check. We offer free advice so that you make the right financial decisions. This allows us to assess the level of indebtedness and come up with a list of all debt commitments. Usually, the information on the credit report sometimes is not up to date. So, when we submit your application, credit providers will issue certificate of balances with the latest account information.

 Upon receiving all the necessary documentation an assessment will be done and within 5 business days and we will advise you on whether you qualify to be put under debt review. If your application is successful, we will notify your credit providers including credit bureaus of your debt counselling status.

We will proceed to work out a debt repayment plan (DRP), after compiling a workable household budget with you that considers your monthly income & living expenses. The DRP will then be submitted to your credit providers for their agreement within 30 business days.

The debt review application will then be referred to the Magistrates Court to obtain a consent order. As soon as the application is lodged the consumer’s assets are protected from repossession. Credit providers are then forced to stop any collection activity. So, you do not have to lose your assets. 

You will have to affect a single payment to your creditors that will cover all your debts via the Payment Distribution Agency (PDA) appointed by the NCR as scheduled in the DRP. This will be a temporary arrangement until the case is made final by an order of the court with the creditors.

Please note that Debt Sage fees become payable once you are placed under Debt Review within the first month of enrolment. We will on a regular basis supervise your payments to the PDA and should there be any changes in your circumstance, we will advise all parties and make the necessary changes accordingly.

When you have finished paying all your debts, we will issue you with a Clearance Certificate and only then can credit bureaus remove your debt counselling status from their records. Thereafter you will be able to apply for new credit.

If you live in Pretoria and find that you are struggling with debt and you feel the situation is out of control, your accounts are 2-3 months’ arrears and could risk losing your assets, please contact Debt Sage today and speak to one of our friendly consultants. The consultants are well trained and will explain the process and guide you through every step of the process.