What is Debt Counselling / Debt Review?

Debt counselling is a formal debt management process, whereby a debt counsellor arranges for you to pay lower monthly instalment and interest rates over an extended period of time. This provides you with immediate financial relief, so you can afford to pay off your debts and cover your basic living costs. Debt counselling through DebtCrew will enable you to take full control of your finances quickly and effectively.


What is a Joint Application?

This is a common type of application for Debt Review, where both partners (applicant and spouse or partner) go under review. This is the recommended application type for couples and is obligatory for couples married “C.O.P.” or community of property.


Will I have to sell my assets?

This is unlikely. It may be wise to sell some assets that you do not need but this will be discussed with you and where needed you consult with a FAIS advisor.  Normally the debt review process helps consumers keep assets like their home and car.


I have a summons or section 129 letter. Is it too late?

It is never too late to get good advice. Even if one of your creditors has a summons all your other creditors are no doubt pressurising you too. A Debt Counsellor can make arrangements with your creditors even those who have a judgment or garnishee order. They might not be part of the Debt restructuring Court Order but will be taken into account when planning your monthly costs.


I was under debt review before. Can I apply again?

By law, yes. If you were under debt review before and stopped paying you will find great resistance to the process from creditors. It will be an uphill battle. Knowing this you are forewarned that it will not be a simple affair but it is possible. Ask yourself if I did not stick to the process before will I stick to it this time? If you were under debt review and paid up all your debts before and got into trouble again it will be a much easier process and the creditors and court will be much more willing to help.


How long will I be under Debt Review?

Each consumer’s situation is different, but many consumers are able to finish repaying their debt within 60 months. In most cases this means they have paid off all their smaller debts and only have a bond left. At this point many consumers then withdraw from the process.


Is my money safe?

DebtCrew makes use of a registered payment distribution agent (PDA) with the NCR. You make direct payments to the PDA and they will distribute your money to the credit providers as per the payment plan provided by DebtCrew. You will receive monthly statements from the PDA to keep you up to date with the allocation of your money.


Can I apply for more credit or use my credit cards while I am under Debt Counselling?

No, the act prohibits you from incurring any further credit while under debt counselling. You will have to destroy all your cards and you will not be allowed to make use of any credit.

…Section 88(1): “A consumer who has filed an application in terms of Section 86 (1) for debt counselling must not incur any further charges under a credit facility or enter into any further credit agreement”


Can a credit provider change their mind?

Once DebtCrew and the credit providers have reached an agreement on the new rates and reduced monthly premiums, DebtCrew will apply for a court order to declare the agreed terms an order of the court. As long as you keep up with your payments as per the court order the credit provider cannot terminate the agreement.


Once I've cleared all my debt, will my name be removed from the credit bureau?
Yes, a clearance certificate will be issued to end the debt counselling process.