Debt Counselling Guidelines


The debt counselling guidelines were devised to protect over-indebted consumers from becoming further indebted.

A 30% increase in debt review applications, from the end of 2014 to the start of 2015, proves just how effective consumers are finding this process to be at relieving their financial distress.

Since just last year, the average monthly number of consumers applying for debt review jumped from 11,000 to 14,000.


The In Duplum Rule

The in duplum rule has proven to be one of the most successful for alleviating financial strain.

This rule allows consumers to stop paying interest on a debt, once the total amount of interest owed is equal to the original amount borrowed. This means that, in total, credit providers can only charge double of what the consumer borrowed and no more, even as time goes by.


Regulated Fees

The debt counselling guidelines outline all of the costs involved, including application, rejection and aftercare fees.

These costs are regulated by the National Credit Regulator, to ensure debt counsellors don’t charge consumers excessive fees.

Your debt counsellor will ensure that you know how much your fees are, what they are for and how they are calculated. In this way, you’ll be able to fully grasp why they are necessary.

Accordingly, you’ll be able to relax in the knowledge that you are being treated fairly and that your financial situation won’t be worse off, as a result of the process. In fact, the first reduced payment you make should not exceed your debt counsellor’s fees, which are capped at R6,000.


Urgent Damage Control

Unfortunately, if your credit providers have launched legal proceedings against you, these credit agreements will be excluded from the debt review process.

As follows, the significance of doing on-the-spot damage control cannot be stressed enough.

The later you tackle over-indebtedness, the less the debt counselling guidelines can help you. Contact NDA now and we’ll take immediate action to reduce your debts, together.


Guidelines to Financial Relief

  • Fill out the contact form
  • One of our consultants calls you back for free
  • We run a free credit check for you
  • We place you under debt review
  • Your credit providers cannot harass you
  • Your car and home are protected
  • You make one low payment monthly
  • You settle your debts
  • You get a clearance certificate!

Free Call Back Form

We'll Contact You!

"*" indicates required fields

Accept terms and conditions?*
This field is for validation purposes and should be left unchanged.

Related posts

National Minimum Wage: What You Need To Know

National Minimum Wage: What You Need To Know

The National Minimum Wage is an important move toward making sure everyone gets paid fairly. But it's about more than just the money. In this blog, we'll look closely at the South African minimum wage per month, how it changes things for both employees and employers...

Loans For Bad Credit: What Are Your Options?

Loans For Bad Credit: What Are Your Options?

With over 42% of the 23 million credit-active consumers falling behind on their debt repayments, loans for bad credit are a common thought among South Africans. In this blog, we're digging into all things bad credit loans South Africa, shedding light on the...

Getting Loans Blacklisted: Understanding the Dynamics

Getting Loans Blacklisted: Understanding the Dynamics

When it comes to obtaining loans blacklisted, it's crucial to understand that the drawbacks often outweigh the benefits. If you're ever in a situation whereby you need a loan but are blacklisted, seeking financial help can feel like an uphill battle. In this blog,...

Share this article: [sharethis-inline-buttons]