ARS Debt Management

What is debt review ?

Debt Review is the process whereby a Debt Counsellor assesses the current financial situation of a client in order to legally reduce their current monthly debt obligations. This is done by reducing the interest rates and extending the repayment terms of their debt obligations. Once all negotiations are done between the Debt Counselor and Credit Providers, a court order is granted to protect the consumer and their assets.

What are the benefits of Debt Review ?

Debt Review is a legal process which PREVENTS REPOSSESSION of your assets;
ONE monthly payment for all your debt;
Repay your debts according to your affordability;
No more threatening calls from your credit providers
Guaranteed reduced monthly instalments;

Who can apply for Debt Review ?

Debt Review is available to all South Africans who has a fixed income. It provides you with an opportunity to consolidate your debt with ONE reduced monthly instalment. Unfortunately, if you are unemployed with no source of income, you will not be able to apply for Debt Review.

What are your rights under Debt Review ?

When you commence with the process of Debt Review, some of your creditors will still contact you with threatening e-mails and/ or telephone calls. These calls could be for any of the following reasons:

Threaten you that they will repossess your assets due to no payment;
Commencement of legal action due to you being in arrears;
Termination of debt review due to nonpayment.

Any threat made by your credit providers are unlawful as you have applied for debt review which is governed by the NCR (National Credit Regulator) and protected by law in terms of granted court order.

You can only be protected by Debt Review when all your payments are up to date.

Meet the team

Coming soon!

FAQ's

For how long will I be under debt review?

Upon your initial consultation, your debt review instalment will be determined, our Debt Counsellor will then be able to provide you with an estimate figure for how long you will be under debt review. We will be able to provide you with the exact number of months, once we have finalized our negotiations with all your creditors. These negotiations will include offering them a reduced instalment and a 0% interest rate. Within 10 days, we will receive their responses to our rearranged payment offer. Once our Debt Counsellor and your credit providers have reached a mutual agreement, the final repayment plan will be provided to our client (YOU).

Can I apply for credit when I am under debt review?

Unfortunately, you may not apply for any credit while you are under debt review. Once our Debt Counsellor has issued you with a clearance letter, you may re-apply for credit.

Am I BLACKLISTED when I go under Debt Review?

No! Debt Review does not blacklist you. There will only be a notification placed on your credit report that you have applied for Debt Review. This does however prevent you from obtaining any new credit but is removed once our Debt Counsellor has issued you with a Clearance Letter.

Do I have to include all accounts under Debt Review?

When your affairs are being assessed, ALL your accounts will be placed under Debt Review and a restructured payment amount will be calculated that suits your financial situation.

Will going under Debt Review affect my employment or future job opportunities?

This is a difficult topic as it will vary from employer to employer and what position you are applying for. If you are applying for a financial position, there might be a chance that a credit check will be done. Your employer or possible new employer will then discuss the “Debt Review Flag’ with you.

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