Debt review fact, fiction and hearsay

by | Mar 9, 2023 | Personal Finance

Debt review can be a very controversial topic to most South Africans due to one of the biggest problems to ever plague mankind, namely hearsay. Throughout human history, hearsay has ruined many company and personal reputations. Not knowing fact from fiction can quickly lead one to making uninformed financial decisions. This could consequently result in financial strain for the decision maker and could affect those closest to them such as family, children, romantic partners as well as friends. The moment that you decide to listen to a person/people giving advice or conveying information, take note that you are either going to be exposed to fact or fiction and you won’t be able to differentiate between the two without investigating what you have heard for yourself from reputable sources.

When it comes to Debt Review, hearsay is referred to as one of the biggest “industry killers” out there. One should be extremely cautious when making financial decisions based on hearsay as you might just deprive yourself from getting the financial help you need. Here is a real-life example of a Hello Peter testimony/review from one of our clients proving that an open mind and willingness to not base decisions on hearsay, but rather facts, will always work in one’s favour.


Hello peter review



– They said that debt review’s term always lasts for five years.  (Fiction)

– They said that if I am under debt review, I will be blacklisted.    (Fiction)

– They said that I cannot get a job or rent while under debt review.   (Fiction)

– They said that the debt review company will not pay my creditors.   (Fiction)

– They said debt review is a scam.   (Fiction)

– They said that I will never be credit worthy again if I go under debt review.  (Fiction)

– They said debt review will definitely extend my term.   (Fiction)

– My friend went under debt review and had a horrible experience, stay away.  (Fiction)

– My sister said that I will struggle to get my name off debt review.   (Fiction)


Make no mistake, there are well over a hundred debt review companies in our country of which a very small percentage are fully compliant. So, it is common for people to unknowingly sign up with these companies who don’t operate ethically and compliantly where they will almost certainly find their experience unpleasant. The problem lies with criticism from people who had bad experiences with unreputable companies, putting blame on debt review as a whole and not the company responsible to blame.



– Read Section 86 of the National Credit Act containing lawful guidelines for debt review.

– Verify the debt review company’s registration number on the National Credit Regulators website under “Debt Counsellors/Registrants” or call them and confirm if the registration number provided by the debt review company is valid or not. Here is the link for their registrants where you can even confirm if credit bureaus and providers are registered with them as all should lawfully be: https://www.ncr.org.za/register_of_registrants/ 


NCR register


– Approach debt review companies who have been awarded top ten Debt Counselling certificates by the National Credit Regulators themselves as it is done yearly and only awarded to those of the highest competency level. It is easy to research and verify which companies are and aren’t under the top ten and whichever one you end up choosing under that list, rest assure that you are in good hands. Here is an example of our very own top ten certificate:


Debt review awards image


– Make sure that you read through your documents issued by the debt review company before signing them.

– Check their Hello Peter and Google reviews. Keep in mind that no reputable company is perfect and will always have its odd bad review here and there. Client testimonies are a great way to hear from fellow consumers what their experience was with the particular company that you are researching. Here is an example of our very own review platforms and our ratings:


NDA GMB SnippetNDA Hello peter rating


– Never be afraid to express your concerns or ask as many questions as possible with the debt review company you are approaching as they should be able to answer them comfortably and put your mind at ease with facts they should be able to back up.

– Always look at the company’s social media presence and engagement as it will give you a good indication of their engagement with the public.


As one will quickly discover with the content mentioned above, there are multiple reliable fact checking methods to use when approaching a debt review company or when simply looking at the program itself. It is simple, convenient and will most certainly assist in your path to making an informed decision over listening to hearsay. Going into a new legal agreement can sometimes be a scary thing as we aren’t always clued up on how it works. Instead of sticking to your current circumstances out of fearing change, use fact checking to create peace of mind when making  financial decisions.

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