What fees will the consumer have to pay?
A once-off assessment fee of R50.00. The consumer does not have to pay any upfront fees, all fees are included in the restructuring.

Is this a consolidation loan?
No, the consumer will still have to meet their obligations monthly. Debt counsellors restructure installments so that the consumer can afford to pay off their debt in the fastest most efficient way and one that allows them to maintain an acceptable standard of living.

Will the consumer be black-listed if they apply for debt review with a debt counsellor?
No. There is no black-listing but if the debt counsellor finds the consumer to be over-indebted, they will add a flag to the consumer’s ITC requesting creditors not to lend the consumer money because the consumer is already over-indebted. This will be removed once the debt has been repaid and when the consumer is no longer over-indebted.

What is debt counselling?
Debt Counselling is a solution for over-indebted borrowers that ensures sufficient protection against loss of assets and assists with the restructuring of debt so that the consumer can meet his / her basic living expenses

Must a consumer continue to pay his / her accounts?
Yes. The Creditors cannot take legal action for 60 business days but the consumer must continue to make payments, because if your application is unsuccessful, you will be in default and the creditors can pursue legal action after those 60 business days.