Who Qualifies for Debt Counselling in South Africa?

In South Africa, the following individuals qualify for debt counselling.

1. Consumers who are struggling to meet their monthly debt obligations qualify to apply for debt counselling. Over-indebtedness is when a consumer cannot service their debts in a timely manner as agreed with credit providers. Indicators of over-indebtedness include borrowing money to pay other debts, using credit cards and overdraft facilities to pay debts and buy necessities, skipping payments on some accounts to pay others, receiving letters of demand and summonses from credit providers and/or lawyers, and having judgments granted against you.
2. These consumers should have a distributable income, which will be used to offer reduced payments to their credit providers.
3. Consumers married in community of property must jointly apply for debt counselling.

Debt counselling services are offered by debt counsellors registered with the National Credit Regulator (NCR). Prior to registration, debt counsellors have to successfully complete a debt counselling training course, satisfy prescribed education, experience or competency requirements, and display an ability to manage their own finances.

Please note that there are debt counselling fees and legal fees applicable to debt counselling. The NCR debt counselling fee guideline is obtainable from the NCR website or can be viewed here. The National Credit Regulator has accredited Payment Distribution Agencies (PDAs) tasked with collecting consumers’ monies and distributing these monies to the credit providers. Debt Counsellors are prohibited from collecting and distributing debt counselling funds to credit providers.

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