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Debt Counselling

What is debt counselling?

Are you in a tight critical financial situation? We all experience those times in which we just can’t afford to pay for monthly living expenses and monthly creditor payments. Debt counselling might be just the right service. Debt counselling is a regulated process whereby a debt counsellor negotiates, on your behalf, with all your creditors, to have the term of each credit agreement extended and the instalments reduced. Your debt counsellor may also appeal to your creditors to reduce the interest rate/s on your credit agreements so that you can afford to pay off all your debt as soon as possible.

Benefits of Debt Counselling/ Debt review is as follow

  • Easy application
  • No Expensive or high interest rate loans involved
  • Dedicated monthly after care service with dedicated and friendly staff members
  • Debt counsellor expert advice on issues relating to repaying off your current debt. You are no longer alone in struggling to meet ends meat
  • 1 reduced fixed monthly repayment for all YOUR CREDITORS. No more paying multiple instalments
  • Your disposable income and cash flow increases immediately in order to provide for your basic living expenses
  • Peace of mind – in terms of the national Credit Act Debt Counselling/ Debt review offers legal protection and protects all your assets which are included in the debt counselling process

The Debt Counselling Process:

In terms of the National Credit Act (NCA) you may formally apply to a Debt Counsellor for debt relief if you are unable to meet your financial commitments under credit agreements on a monthly basis. We as your registered Debt Counsellor must first assess if you are over-indebted. The following process will be strictly followed as laid down by the National Credit Act (NCA) :

step 1
You will provide details of your income, monthly budget and debt commitments to us as we are registered debt Counsellor. It is important to only give out this confidential information to only a registered debt counsellor. In order to speed up the process you will need to give us copies of your pay slip, ID and the latest statements of all your credit agreements or debt obligations.

step 2
We as a registered Debt Counsellor will then do an initial assessment to check if you are indeed over-indebted.

step 3
We as the debt Counsellor will verify your budget and your existing debt commitments. We will formulate a new budget which you will have to agree upon to determine the amount available for debt repayment. At this stage we the debt Counsellor will also provide you with details of all the costs involved in terms of Debt counselling, as well as an interim debt repayment plan in terms of the debt counselling process

step 4
We as the Debt Counsellor will then contact all of your Credit Providers as well as the Credit Bureaus to verify your debts. In terms of the National credit Act You will also be noted on the Credit Bureaus as being under Debt Counselling and that your debt is in the process of being restructured. The notice will remain there until you have repaid your debts in full or where a court has deemed you not being over committed anymore (if in the case your personal circumstances changes). We the Debt Counsellor will then, where possible, negotiate the proposed restructured debt repayment plan with your Credit Providers.

step 5
If Credit Providers accept the proposed debt repayment plan, it will be made an order of the court by the local Magistrate's Court, referred to as a "Consent Order". However, if one or more of the Credit Providers do not accept the proposed debt repayment plan, the Debt Counsellor will have to submit it to a Magistrate for an order in terms of the National Credit Act.

step 6
We, your Debt Counsellor, will provide you with a final reduced debt repayment plan, which is then submitted to a Payment Distribution Agency (PDA). The aim of this is to collect a single payment from you and ensure that the correct amount in terms of the final debt repayment plan is paid to all your Credit Providers on a monthly basis. This will continue until all your debts have been paid in full, together with interest and legal fees, where applicable

Benefits of using our Debt Counselling Service

  • We negotiate on your behalf the lowest possible interest rate;
  • Once we start the process we guarantee fast service;
  • Explain to you in detail each step of the process
  • We handle all the queries from your creditors
  • We offer professional advice and assistance in the whole process;
  • We provide a better chance of success.
  • Detailed statements each month in terms of the NCA
  • We offer a range of additional services to help with other needs during the debt counselling process
  • A dedicated and experienced consultant offers you one key point of contact throughout the debt counselling/ debt review process
  • Our values are based on openness, honesty, social responsibility and caring for others is in essence the core of our business and it’s the only way in we which we provide our service. We offer transparent fees strictly in line with the National Credit Act and offer regular communication during the debt counselling process.

Documentation we will need for Debt Counselling is:

  • Application form which can be downloaded from this website
  • All your personal information including banking details
  • 3 month bank statement
  • Payslip
  • financials (where applicable if self-employed)
  • ID Documents
  • Marriage certificate (if married) 


In the process we will counsel clients, who do not qualify for a loan, on how to manage financially, as well as clients who do qualify, on how to ensure that regular repayments are made on schedule. We will monitoring repayment closely as to ensure you don't get blacklisted again

Homeloan process

In order to qualify for a homeloan we first proceed to clear you name from the credit bureaux. If you need a loan to settle creditors see our loans process procedure. Once your name have been cleared we then proceed with the home loan application

The advantages to you are as follows:
  • We submit only one application to all the major banks (ABSA, Nedbank, FNB, Standard Chartered and Standard Bank)
  • We negotiate on your behalf the lowest possible interest rate;
  • Once we start the process we guarantee fast service;
  • Explain to you in detail all the different banks home loan options
  • We handle all the queries from the bank to the applicant
  • We offer professional advice and assistance in the whole process;
  • We provide a better chance of success.
  • 2nd bonds and homeloan switches
Documentation we need is:
  • All your personal information including banking details
  • 3 month bank statement
  • Payslip
  • Audited financials (where applicable)
  • ID Documents

mpact of Financial stress on employees

Stress caused by financial worries has and will have a negative impact on employee productivity. This fact is supported by numerous studies and surveys taken over the years and the latest was audited and surveyed by Pricewaterhouse Inc

Employees gets distracted by their own personal financial issues at the workplace, some of whom will actually use company time and resources to deal with their personal finance issues.

As soon as personal financial issues affects employees work performance the company will lose valuable hours of work due to these stresses and distractions. These lost hours will add up and will have a significant impact on the company’s bottom line. Not only will these financial stresses lead to many valuable lost hours for the employer but will have a significant impact on morale in the workplace.

By offering our Debt Counselling services to your employees who are experiencing debt stress, we will immediately empower your employees with relevant information they need in order to become financially fit again. This in turn and will result in a more engaged and stable workforce.

Benefits of Debt Counselling/ Debt review in the work place

  • Free Consultations

  • Free Presentations

  • We come to your offices and meet the employees for their convenience

  • Free workshops on educating employees on how to manage their personal finances

  • Debt Counselling is 100% free for the employer. Employees will pay a reduced instalment in terms of the National Credit Act

  • Decreases Employees Financial Stress Levels

  • Improved performance

  • Decrease absenteeism

  • Minimise employee mistake that was caused due to financial stresses and pressure received from loan sharks, debt collection agencies and lawyers

  • Minimise garnishes orders

  • Reduce requests for staff loans or pay advances

  • Have an educated workforce who knows how to manage their personal finances

  • Presentations will be held in groups but consultations are held privately with each interested employee for the sake of confidentiality.

Credit Salvage can help you

Financial stresses in the work place concern all employers from big, medium to small. We have a range of services and resources in place to assist financially stressed employees.

If you are an employer and would like the assistance from a professional company to help and reduce financial stresses of your employees please contact Credit Salvage at