In the South African consumer market it has been too easy for a person to access credit that is way beyond their means of repaying the debt. Besides being limited, the solutions were often not viable solutions anyway, such as Administration or Sequestration. The options for this consumer were very limited in the past to be able to regain control of their finances. This consumer will now be stuck in debt perpetually. The problem with this trend is that, at some point, they will no longer qualify for any further credit and that the interest being charged on their existing debt is often more than the installment that they are paying. They also let insurance policies lapse and start paying some accounts every second or third month. What tends to happen in this situation is that the consumer embarks on a “lending spree” where they need to borrow more and more as each month goes past just to make it through the month. This has led to the situation where people are officially over-indebted.
We are able to assist consumers by reducing the monthly installments on debt, increase the term and also to negotiate reduced interest rates on the balances repayable.
There is no cost or obligation on you, we don't charge for an initial consultation and should you choose not to continue with our service there is no obligation on you to continue.
We offer Debt Counselling in terms of the National Credit Act. This process helps consumers who cannot afford their debt repayments and still cover their monthly living expenses. We assist them by reducing the monthly installments on their credit agreements as well as negotiating reductions in the interest payable.