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  • Affordable Debt Repayments
  • Improved Cash Flow
  • Lower Interest Rates

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Author DebtGrip. Screenshot of DebtGrip website.
[Accessed May 11, 2023]

About DebtGrip

DebtGrips’ debt calculator paints a clear picture of how much debt you have. Within just a short amount of time, you can gain valuable insight into your financial state.

What’s great about this unique feature is that it’s offered for free and comes with no obligation. Your information will be kept confidential and reviewed by DebtGrip’s team once you’ve requested advice.

A diverse range of offers is available

  • Analysis of your debt, which pinpoints an affordable repayment term that’s tailored to your situation.
  • DebtGrip manages everything from liaising with your credit providers to accepting your new payment arrangement. This in the end helps you save.
  • DebtGrip works with a reputable legal firm which ensures that all legal processes are dealt with professionally.
  • Deduction of a single payment every month to make payments to your credit providers in good time. Find a new lease on life with DebtGrip

With so many years of experience in assisting South Africans to better manage their finances, the DebtGrip team is showing no signs of stopping their progress.

They can help you uncover a new lease on life. Deciding to go through the debt review process helps you immediately pull the brakes on excess debt without having to sell any of your valuable possessions.

9 ways you benefit from debt review with DebtGrip

  1. Avoid legal action taken by creditors
  2. No calls from debt collectors
  3. Affordable debt repayment
  4. Reduced interest rates
  5. You make one payment every month
  6. If your finances improve, you can cancel the debt review
  7. Once you’ve settled your debt, you’re debt free
  8. Any cars with an outstanding balance will be settled after debt review
  9. Credit insurance affords you peace in case an unexpected event happens such as death, illness or retrenchment

DebtGrip Services

3 phases of debt review:

Phase 1 - Applying for debt review

  • You get a free consultation. When you contact DebtGrip, an appointment will be made for a free consultation. It’s during this time that your finances are reviewed to figure out how much you can afford to pay after deductions.
  • Next, you need to complete the application form called the F16 form. Thereafter, you need to return the necessary documents to DebtGrip.
  • You can no longer apply for any credit. Once you’ve decided to begin debt review and submitted the debt review application form, you’re no longer eligible to apply for credit until you’ve completed the entire debt review process.
  • DebtGrip communicates with your credit providers. DebtGrip informs your credit providers and the Credit Bureau within five days that you’re under debt review by providing them with your signed F17.1 form.
  • You’re advised to start debt review. After a careful analysis of your finances by debt counsellors from DebtGrip, you’ll be recommended to begin the debt review process.
  • Payment arrangement. DebtGrip contacts you to discuss the payment arrangement set in place for you. The payment plan is further sent to your credit providers, who can either acknowledge, decline, or make other additional offers regarding your payment arrangement and interest fees. The negotiation process continues until a practical and affordable payment is settled upon.

Phase 2 - Legal proceedings take place

Application for a court order. Your payment arrangement is made an order of court by a debt counsellor. Credit providers who don’t acknowledge the structure contained with this payment arrangement need to motivate why they don’t accept the offer.

Phase 3

  1. Evaluation: If you decide to proceed with the debt review process. You’ll need to complete the F16 form and include the necessary documents and submit them to DebtGrip.
  2. Single payment deduction from your bank account: Every month, one payment will be collected from your bank account and paid to your credit providers until your debt is settled in full.
  3. You’re now debt-free: Once you’ve fully paid up what you owe, you’ll be offered a clearance certificate, which means you’ve completed the debt review process.

DebtGrip – Debt Counselling

  • Loan Type Debt Review

Benefits of DebtGrip

  • Lower monthly debt repayments
  • Legal protection against creditors
  • Protection against asset repossession

Who is eligible to apply for debt review?

Anyone who’s finding it hard to pay debt and who has a reliable income every month is allowed to apply.

If you’re married in Community of Property, you’ll also need your spouse to apply. However, if you're married Out of Community of Property, your debt becomes your responsibility, and your spouse doesn’t have to apply.

Figures showing off their impressive work

The DebtGrip team has given support to over 165 thousand South Africans. They’ve impressive client ratings from more than 250 happy clients. The amount of money they’ve assisted South Africans to save amounts to more than R2 million. They’ve also won a total of 578 awards to date, which shows how devoted they’re to leaving a mark in the industry.

Every time you purchase unnecessary items that you don’t need, you’re getting further into debt. It’s not reckless spending habits that have contributed to many South Africans being in debt, it’s the mere events of unexpected circumstances such as hospitalisation, accidents, and high expenses that grow quickly and cause immense turbulence.

Helpful hints to bear in mind when going under debt review

  1. Get into the habit of saving

    This is one of the most important steps you should take during your financial journey. There are many apps that are available that help you track your spending habits. By consistently incorporating this step, you can learn and trim down on reckless spending, which can later result in you having more money in your wallet.

  2. Don’t miss payments

    If you do this, you’re jeopardizing your debt review process, which can result in your credit providers putting an end to the debt review arrangement. This leads to you being badly exposed and leaving your credit providers with no choice but to take legal action against you.

  3. Forget about taking on new credit for a while

    Undergoing debt review is for your own good. When you try to apply for new credit, these new credit providers perform an ITC check. Don’t make any bad choices that can negatively affect you and stop you from becoming free from debt.

DebtGrip Contact

Physical Address

Opening Hours

  • Monday 08:00 – 16:30
  • Tuesday 08:00 – 16:30
  • Wednesday 08:00 – 16:30
  • Thursday 08:00 – 16:30
  • Friday 08:00 – 16:30
  • Saturday – Closed
  • Sunday – Closed