Over-indebted South Africans can apply for debt review

by | Mar 4, 2021 | Personal Finance

2021 has not started off well for South African consumers. If the first quarter of the year is anything to go by, we are going to have to financially brace ourselves for what is still to come.

  • On the 3rd of February the price of petrol rose by 81c / litre.
  • On the 3rd of March the petrol price once again increased – this time by 65c a litre.
  • That is a nearly R1.50 per litre increase within 30 days.
  • With the fuel levy hikes in April and rising cost of electricity this will undoubtedly impact already struggling consumers and small businesses.


Tight budgets

This is a particularly heavy blow to consumers who fought hard to return back to “normal” between the first and the second waves. The rising fuel cost will undoubtedly have a knock-on effect on the increase in the price of food and transport. This will definitely hit those who are working on an extremely tight budget and may lead to over-indebtedness of many South Africans. Fortunately, over-indebted South Africans can apply for debt review

Debt Review

Sadly, people are not aware that they have the option of debt review if they are struggling to make ends meet.

South African citizens who are juggling their debt and their living expenses may apply for debt review, as set out by the National Credit Act of 2005. The Act was put in place to protect over-indebted South African consumers and played a huge role in buffering South Africa from total collapse when the worldwide recession of 2007/ 2008 hit, and is now going to once again do the same.

You may apply for debt review, if you:

  • Are a South African citizen.
  • Have credit contracts in place with South African companies.
  • Have a full-time job or steady monthly source of income.
  • Find yourself skipping payments on your monthly accounts.
  • Don’t have enough money left for your living expense after paying your debt.


The best time to apply is before you start skipping payments on any of your accounts. When you apply for debt review it is a clear sign that you are not in denial – and you are prepared to take responsibility for your finances. Though there is much guilt and shame attached to a bad financial situation, the reality is that everyone is struggling. The longer you take to acknowledge your debt problem, the longer it will take for you to get out of it.

The process of debt review is a fully regulated. It is not a fly-by-night, quick fix solution to your problems. You have to be fully committed to becoming debt-free and ultimately, financially free. From your debt review application to your clearance certificate, the highly competent staff of NDA will be with you every step of the way.


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