DebtSafe

Debtsafe is a leading provider of debt review services in South Africa that has successfully assisted over 30,000 South Africans over the last 12 years.

Dedicated to your financial well-being

They’ve appeared on multiple TV shows and have produced a number of videos and blog articles designed to help consumers with their finances.

This is because while their main aim is to take on debt review cases, they’re incredibly dedicated to ensuring the financial well-being of their customers.

A unique, compassionate approach

If you’re looking for a debt review service provider that will go above and beyond for you, then Debtsafe is the right company for you. They approach all new debt review cases with compassion, efficiency, and expertise.

What can Debtsafe do for you?

If you’re currently struggling to keep up with your debt repayments, despite being employed and earning a regular income, you may qualify for debt review.

This is a process which will help you consolidate all of your debts into one, easy-to-manage repayment. Let’s take a closer look!

What is debt review?

Debt review is a process by which a consumer that is over-indebted can enjoy some relief by having their debts reduced and restructured in a way that ensures they have enough for their living expenses while also paying off their obligations.

The entire debt review process is regulated by the National Credit Act and everything from the requirements to be declared over-indebted, to the fees that service providers will charge, is regulated.

Is Debtsafe reliable?

As mentioned, Debtsafe has been opening for more than 10 years and has thousands of satisfied customers. They’re registered with the National Credit Regulator and their counsellors are among the best in the field.

If you want to deal with polite counsellors who will take care of your finances in a reliable way, then look no further.

DebtSafe specialises in debt review and does not offer any other financial services. While they sometimes refer to their services as consolidation, this must not be confused with the approach of taking out a new loan to cover multiple smaller ones.

Debt review is the process of restructuring your existing debts by negotiating with your creditors. Once your creditors agree to the plan, it is made an order of court. The National Credit Act regulates this entire process.

On the other hand debt consolidation, in the traditional sense will have you taking out a larger personal loan to repay many smaller debts.

While they both have the effect of requiring a single monthly payment, they are very different, and it’s important to know that DebtSafe offers only debt counselling services and not traditional debt consolidation loans.

Is debt review right for me?

If you’re currently earning a stable monthly income, have more than R20,000 in debt, and are struggling to keep up with your repayments to credits, you may qualify for debt review.

The benefits of debt review

• Free up money for everyday living
• Debts can be reduced
• Pay one amount to a payment distribution agency (PDA)
• You’re legally protected and your creditors can no longer contact you
• You don’t have to worry about your vehicle or home being repossessed
• Take control of your spiralling debt situation and rehabilitate yourself in a safe and stable way

CreditGuard as an added layer of security

When undergoing debt review, CreditGuard, an insurance product offered by DebtSafe will ensure that in the event of your death, disability, or retrenchment your dent will be covered up to a set amount.

It also offers a maternity benefit and will repay your contribution for a 3-month period if you’re expecting.