National Debt Review Center

The National Debt Review Center are one of the most popular and successful providers of debt review services in South Africa.

They are registered with the National Credit Regulator and are fully compliant with the National Credit Act. Their debt counsellors are not only registered with the Debt Counsellors Association of South Africa but are also among some of the most experienced and passionate counsellors in the country.

Leverage the NDRC’s relationships

The NDRC is one of the largest and most successful providers of debt review services in the countries because they are efficient, quick, and well-connected.

They are well-connected with key players in their industry and have partnered up with key role players including the National Credit Regulator and the National Consumer Tribunal, to name a few.

This is important because these relationships are key to ensuring that your debt review process runs as smoothly as possible and that you are provided with the most beneficial options and the best possible service.

What is debt review?

Debt review is a measure available to over-indebted South Africans that was created and is regulated by the National Credit Act.

The idea is to reduce your repayment amounts so that you will have enough for your living expenses while also ensuring your creditors are repaid fairly.

How the NDRC goes the extra mile

While many debt review agencies claim to go the extra mile, the NDRC actually do it. Whether or not you undergo debt review, they will provide you with a range of tools, resources, and support to help you rehabilitate yourself if you’re experiencing financial difficulties and need some guidance and help.

The National Debt Review Center can also help you apply to end your debt review by guiding you according to Section 87(1)(a) of the National Credit Act.

This process involves an application being made to the court on your behalf showing that you are not over-indebted and requesting that the debt review listing be removed.

If you're struggling with your current debt repayments and are over-indebted then debt review can help you take control of your finances but, it certainly isn't a one-size-fits-all solution.

That's why experienced debt review specialists such as the National Debt Review Center should be consulted. Their debt counsellors are highly experienced and will be able to determine if debt counselling is indeed the right option for your situation and guide you through the process.

Remember that the services of debt review are not free and all parties involved will be paid for their services accordingly. These fees are, however, regulated by the NCA and this provides you, the consumer, with protection from being overcharged.

The complete debt review process

NDRC take their role in the debt review process very seriously and will do its best to ensure that your best interests are safeguarded. To ensure this, they will carefully follow a set process when reviewing your finances and preparing your debt review application.

• Step 1: You consult with a debt counsellor and complete Form 16 with their help
• Step 2: Your debt counsellor will notify the credit bureaus and your credit providers that you are about to apply for debt review and they provide information on your debts
• Step 3: A new budget will be drawn up
• Step 4: Your debt counsellor will determine whether or not you are over-indebted and whether the application can proceed
• Step 5: If you're considered over-indebted, the counsellor will notify your creditors and the credit bureaus
• Step 6: Your credit providers can agree or make alternative suggestions to the proposed repayment plan
• Step 7: Your court documents are prepared and you sign an affidavit for the court
• Step 8: The court reviews the plan and documents and makes them an order of court
• Step 9: You'll start to pay a single agreed-upon amount to a payment distribution agency

What you can expect while under debt review

Once you've been placed under debt review you will repay the set amount to the payment distribution agency until your debt is repaid in full.

You'll receive regular statements to update you on your progress and once you’ve paid off your debt completely you will be issued a clearance certificate. Once this has been done you can apply for and be granted credit once more.