Debt Counselling Johannesburg
IS YOUR DEBT MORE THAN YOUR INCOME & NOT ENOUGH MONEY FOR LIVING EXPENSES?
Food Costs Are High
The cost of food can be anything between R2000 - R4000 per person. How many people can afford this?
Housing Is Expensive
Even if you can afford your own place, expect to pay R7000 and more!
75% Towards Debt
For Most South Africans, 75% of their income goes towards debt. We can help you fix that.
Petrol Price Increases
Every day the price of transport goes up. You need to unlock extra cash - without taking out a loan.
Debt Counselling Johannesburg
We’re in your corner
You don’t need to choose between paying back your creditors and getting great customer service. With ezDebt you get both! Let our expert team assist you quickly and with no hassle. Ndobo and Zaakirah are looking forward to being of service.
Certified Team
Our team of debt advisors are always knowledgeable and friendly.
Trusted Company
We have successfully assisted 100s of clients before you.
DEBT REVIEW CAPE TOWN
Our Happy Clients
Louis T
ezDebt helped me breathe when I found myself drowning in financial debt. Aaqela is a consultant who exercises empathy towards her clients. Debt review has been the best decision I have made this year. Thank you so much Aaqela, I am grateful for your personal touch.
Andile M
The Debt Counsellor at ezDebt negotiated so well with the companies I owed money to. To go under Debt counselling has honestly been the best decision I have made this year. Thank you so much ezDebt
George A
Debt Counselling Johannesburg
We Follow 3 Simple Steps To Financial Security
01.
Give us a call to get free from debt
Tell our expert debt counsellors how we can assist you today, or request a free callback on the button below.
02.
We find the best debt review solution
Not every client is the same. We look at the best debt review solution to protect your assets and living expenses.
03.
Keep the cash in your pocket (not your creditor’s!)
We keep your creditors happy and you get extra cash in your pocket each month.
Debt Counselling Johannesburg
Struggling With Too Much Debt?
After over 10 years in business, we have helped 1000s of clients alleviate their debt worries. You can see from our Hellopeter reviews that we can help cut your overall debt, like we have done for many before you. Only certified debt counsellors are used. See below for an example of how we can save you money EVERY month with our debt reviews solutions South Africa.
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Debt Counselling Johannesburg
Stop your creditors from harassing you
We know how tough it is to make it through the month. You shouldn’t have to worry about debt, especially if you want to pay it, but can’t afford to pay the full amount every month. We are here for you and happy to answer any of the questions you may have about the best solution for your debt. We keep your information private and protected.
Debt Counselling Johannesburg
Let's make sure you don't pay back more money than you have to!
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Debt Counselling Johannesburg
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Debt Counselling Johannesburg
Frequently Asked Questions
Find answers to commonly asked questions about debt counselling. We are here to answer all of your questions.
How much will I have to pay to the credit providers each month?
A trained ezDebt consultant will go through the your budget and advise on the optimal affordable amount which is available to pay credit providers. This amount will be determined after the clients living expenses and those of their dependents, have been accounted for.
Can I exclude bonds (home loans) from debt review?
ezDebt does not recommend that you exclude your home loan from the debt review process. The National Credit Act implemented the inclusion of your home loan in the debt review process, to assist consumers with keeping their homes. The NCA requires that all debt agreements are included in the debt review.
The National Credit Act implemented the inclusion of your home-loan in the debt review process, to assist consumers with keeping their homes. The NCA requires that all debt agreements are included in the debt review. In addition to including your home loan under debt counselling, the following tips should be taken into account and will assist with making sure you are able to pay off your debt in no time.
Reducing interest rates on all current debt repayments, as well as other debt expenses, with the process of debt counselling is a beneficial solution until you have paid off all of your unsecured debts and therefore, it will allow you to go back to your normal home loan repayments.
When under debt counselling it is best to include your home loan as a defined debt repayment on your home loan with being included in the debt review. The debt repayment should either be equal to or approximately 80% of the contractual repayment. This would extend the repayment terms by 20%, making the monthly debt repayment an affordable amount.
Debt counsellors will assess your credit agreements and determine whether you have been a victim of reckless lending. In the event that credit has been recklessly lent to a consumer, a court can be approached in order to declare the debt as reckless and the repayment of that debt will be written off. This will ensure that the client is placed in a better financial position and increase the affordability of their debt.
Debt counsellors will efficiently review your living expenses and financial situation by drawing up an affordable monthly budget and making sure that you have made the maximum amount of your funds available for debt review. This will give credit providers peace of mind, as they will know that a debt counsellor is contributing the consumer’s maximum amount towards settling their debt.
Why do credit providers not reduce interest rates in all cases?
As per the National Credit Act, the credit providers do not have to reduce interest rates. The good news is that many credit providers are willing to reduce interest rates so that a consumer can get out of debt in a reasonable period of time.
As per the National Credit Act (NCA) credit providers do not have to reduce interest rates.
The good news is that many credit providers are willing to reduce interest rates so that a consumer can get out of debt in a reasonable period of time.
If the debt is to be settled in 60 months or under (for unsecured debts such as personal loans, store cards and credit cards) than most credit providers will accept the new payment plan. If the proposed new payment plan is over an excessive period of time, then many creditors will reject the proposal and there will be no reduction in interest rate.
How long does blacklisting last in South Africa?
You will remain blacklisted in South Africa as long as the debt is not paid, so it stays there for as long as the debt is owed.
However once the debt is paid in full, then the company that blacklisted you on ITC needs to send a letter to them informing them the debt has been paid & to give permission to remove it.
For the quickest and safest way to remove your blacklisting status in South Africa, enter the debt review process with ezDebt and take your first steps to clearing your name.
Do I have to attend an interview in order to apply for a debt solution?
No you don’t have to. A formal interview conducted on the ezDebt premises is not required in order to purchase a debt solution. Most debt related processes can be handled over the phone, however, certain documents need to be signed by clients and returned to the debt counsellor.
Signing up for one of ezDebt effective and trustworthy debt solutions is done over the telephone and via email. This ensures that process is conducted as quickly and conveniently as possible, to save you time and money.
ezDebt application process is 100% safe and reliable, as one of ezDebt expert financial consultants will assist you every step of the way. All personal and financial information is kept confidential and the appropriate steps are made by the company to make sure the client is protected.
On a daily basis, ezDebt financial consultants and client services team are available to discuss financial queries and service related topics at any time, thus enabling you to stay on top of your debt situation.
ezDebt also ensures that all employees follow the company values; service excellence, pride, growing people, forward thinking, integrity and accountability in order to conduct business in the most effective and ethical way.
What if I a credit provider tries to make a new arrangement directly with me?
Clients should never make any promises or arrangements with a credit provider without first discussing the matter with ezDebt. This tactic is often used by credit provider staff who are working under commission, or by debt collection firms working on behalf of the credit providers.
Why use a debt review solution
ezDebt can assure you that we offer excellent service. If you are under debt review with us we would have already negotiated with your creditors on an affordable repayment plan.
To date, ezDebt has helped more than thousands of clients and are currently achieving a 90+% success rate.
If a credit provider or debt collector contacts you, the best option would be to contact ezDebt straight away and we will advise you on the best debt solution for your needs.
Never make any arrangements with a credit provider without discussing it with us first, as this can have a negative impact on your entire repayment plan with the other credit providers.
Be warned by debt collectors
Unfortunately, certain debt collectors will use dishonest and illegal tactics in order to trick you into defaulting on your debt review payments in order to pay them instead.
Be aware as debt collectors may pretend that you are not under debt review or that they have terminated your debt review. They are by no means allowed to take this sort of action.
Therefore, if you are at all concerned or confused at any time whilst under debt review, it is vital that you contact ezDebt – we are one of the best debt review Cape Town companies.
If I am under debt counselling, can I get a job overseas?
You are able to move and work overseas, however, ezDebt insists that clients advise them beforehand. As long as clients continue to make monthly payments, they can stay on the debt repayment plan
What is the credit process?
The following steps map out the process involved with purchasing an item on credit, applying for a loan, or extending the credit limit on your store card and the actions taken by credit providers and credit bureaus.
The credit process differs according to the type of credit you wish you apply for.
The following steps map out the process involved with purchasing an item on credit, applying for a loan, or extending the credit limit on your store card and the actions taken by credit providers and credit bureaus.
Steps of the credit process
- A consumer will apply for credit from a credit provider.
- The credit provider will begin to process the consumer’s application, which will consist of sending an enquiry to various credit bureaus.
- The credit bureau will respond to the enquiry and will issue a report to the credit provider.
- The credit provider will assess the report and decide whether the application is risk-free and if it should be accepted or declined.
- In the event that the credit provider decides to grant the consumer credit, the consumer credit provider will be used in order to determine the interest rate the consume qualifies for and the deposit that needs to be put down in order to borrow the credit, if any.
- The credit provider will notify the consumer of the terms of business. If the credit provider declines the consumer’s application they may imply that the credit bureau advised not to take on the agreement, instead of stating the real reason which may be that the credit provider considered the consumer as a bad risk candidate. However, another credit provider may think differently and grant the consumer the credit they need.
- The Ombud will ensure that both the credit provides and the consumers play fair.
For more assistance with the credit process or any questions with regards to sorting out your financial situation, specifically solving your debt contact ezDebt
Can ezDebt help me if I am not in Cape Town?
ezDebt operates nationwide, telephonically or online. However, you can visit us at our Cape Town offices. For more details click here
We operate nationwide, from a central office in Parow as common practice, as all banks operate from central offices. Operating from one place helps ezDebt better control business processes and develops them when the need arises.
However, ezDebt have attorneys in every jurisdiction of South Africa. Thus, there is no need for ezDebt to meet with clients in person and all that is needed is the client’s documentation, which we will be used to liaise directly with the banks. Contact us for a quality debt review Cape Town company.
What is the difference between debt review, administration and sequestration?
Debt review, Administration and Sequestration are viable debt solutions, however, Debt Review is the only option offered by ezDebt to South African consumers struggling to make their debt repayments are faced with financial difficulty.
Debt review, Administration and Sequestration are viable debt solutions, offered by ezDebt to South African consumers struggling to make their debt repayments are faced with financial difficulty. All debt solutions are implemented through ezDebt systematic business processes, however, they have several differentiating factors.
Administration:
Administration is a debt solution implemented by ezDebt whereby the client’s current debt instalments are reduced and the credit providers receive a debt repayment once every three months. It is a legal process whereby the debt repayment terms are extended, but the downfall lies with the fact that the process is lengthy and takes much longer than debt counselling.
- The terms of the repayments are extended indefinitely
- Payments are only distributed every 3 months (interest adds up)
- Is only applicable for debts that total less than R50 000
- The fees are 12.5% + VAT + distribution costs per month
- Clients payment often becomes a salary deduction, so your employers will find out
Sequestration:
Sequestration is another debt solution but is not offered by ezDebt. The process entails selling an individual’s current assets in order to pay off or lessen their current debt. In addition to this, the court will appoint someone to manage the client’s money and thus, it is an expensive process.
- Clients are forced to sell all their personal assets eg. home, car, furniture, valuables.
- The process will cost clients at least R20 000 in legal fees
- Sequestration is not an option unless it is in the credit providers’ best interests, thus the client needs to offer at least 15% of what they owe
- Rehabilitation is only possible after a period of five years.
Debt Review:
Debt review is a debt management solution implemented in order to assist South African consumers with solving their debt problems. The process of debt review will ensure that the client’s debt repayment plan is extended and their current interest rates are reduced, as a professional ezDebt financial consultant will negotiate with the client’s credit providers. The following information sums up the debt review process:
- ezDebt will restructure your debt after assessing your financial situation
- ezDebt will negotiate your debt repayments with credit providers
- Debt repayments are consolidated into one affordable monthly repayment, paid to an NCR regulated payment distribution agency
- Debt repayment terms are extended
- Once debt repayments have been made, credit bureaus will be notified and credit records will be adjusted.
- Free up money for your disposable use
Debt review, administration and sequestration are all solutions targeted at solving the debt problems South African consumers currently face.
What if I am under debt counselling and I am sent legal documents?
You must notify ezDebt immediately, by calling 021 180 4554. The documents may be an S129 letter informing the client that legal action has started, or a summons has been submitted.
ezDebt expert debt consultants will be able to assist you in taking the right course of action.The documents may be a S129 letter informing the client that legal action has started, or a summons has been submitted.Either way, credit providers cannot start legal action if the client has applied for debt review before they send the S129 letter.
What do I do if a credit provider phones or harasses me?
ezDebt suggests that clients advise the credit providers that they have applied for debt review in terms of section 86 of the National Credit Act. If the credit providers ask for proof, clients will be able to show them their ezDebt receipt.
If the credit providers ask for proof, you will be able to show them the ezDebt receipt. Clients should also request that the credit providers contact ezDebt. If the credit providers do not desist in this practice, please send a complaint through to www.ncr.org.za.
On many occasions, credit providers sell their books of debt and thus, clients can be harassed by another debt collector. Debt collectors still have to follow the national credit act, therefore allowing clients the right to threaten to report them.