Is DebtSafe legit?
Is DebtSafe legit?
The Debt Counsellors of DebtSafe are indeed registered with the NCR. On top of that, DebtSafe has been helping South Africans with their debt from 2009 which makes DebtSafe a well-established company with many years of experience to offer.
What does DebtSafe do?
A: DebtSafe helps South Africans struggling with their debt through a program called Debt Review (also referred to as Debt Consolidation or Debt Counselling).
How can I get out of debt review in South Africa?
Unless all the accounts are paid up or the consumer becomes entitled to a clearance certificate, the only way to terminate the debt review process, according to the NCR’s Withdrawal from Debt Review Guidelines, is to apply to court for either the rescission of the debt review order if one was obtained, or for a …
How long does debt review last?
While the general time frame is 60 months or between 3 to 5 years, it is dependent on how much debt you have and how much you can afford to repay per month. This is because each case is assessed individually and based on what you can afford.
What are the advantages and disadvantages of debt review?
The real benefit of debt review is that it can protect your assets from being repossessed by the credit provider. The disadvantage is that you cannot apply for any credit while under debt review and the only way to exit the review is to settle all outstanding debts, except for those related to car and house financing.
What are the cons of debt review?
The Cons: You will not be allowed to get credit while in the program. Your Debt Review will be listed on your credit record until the completion of the program or when all your debt listed under Debt Review are paid up in full. The payment period of your debt will be extended in order to lower your monthly instalments.
Can I settle my debt review?
How to settle an account: Contact the relevant creditor to obtain a final settlement figure. Pay the creditor directly. Send the proof of payment and paid-up letter to a DebtSafe Debt Counsellor so that they can remove the account from your Debt Review and recalculate your payment plan.
How can I pay off my debt review faster?
How to get out of debt fast
- Pay off debts with higher interest rates first. By paying your higher-interest debt first, you will end up paying less interest in the long run.
- Use any lump sums or bonuses to pay off debt.
- Earn an extra income.
- Lower your expenses.
Can I open a bank account if I am under debt review?
If I am under debt review, will I still be able to use accounts and credit facilities? No, once notification has been given to your credit providers, your accounts will be flagged, indicating to credit providers not to provide you with further credit because you are over-indebted.
Can I trade in my car if I am under debt review?
A: When in Debt Review all your current credit agreements are restructured into your monthly Debt Review repayments. With that said you will not be allowed to trade in your current vehicle below Debt Review for a new vehicle if it is linked to a new credit agreement.
Can I get credit after being under debt review?
Can you apply for credit after debt review? Yes. Once you’ve been unflagged, you can apply for credit once again and make purchases, such as for a house or car, under credit. You will not be denied because you were once under debt review.
Can debt Review expire?
From the application date, after the expiry of a period of 60 business days a credit provider may terminate an account that is in arrears from the debt review process. The consumer must be in default with the credit agreement to be terminated.
How does debtsafe help you with your debt?
Fill in your contact details below and a qualified DebtSafe consultant will contact you for your free quote. DebtSafe – Let’s fix your debt. Restores payments in arrears. No-loan debt consolidation. Combines debt accounts into one. Gives immediate cash flow relief. Reduces your monthly debt instalments.
Where can I find the debtsafe National Contact Centre?
For client queries please call 0861 1009 99, or visit the DebtSafe National Contact Centre in Mokopane or click here for online query resolution.
How to contact debtsafe for debt consolidation in Pretoria?
Fill in your details below to request that our Client Care Department contacts you. Your request will be looked into and you will receive a response within two (2) business days. For URGENT queries, use the my.DebtSafe portal. Join our social media community! It’s the perfect way to connect with us.
How can I get help with my debt?
If you have negotiated with your creditors, but still find that you are falling more into arrears, then you are welcome to contact us for assistance and we’ll see if and how we can help to fix your debt. Fill in your contact details below and a qualified DebtSafe consultant will contact you for your free quote.
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