Credit Loan

Credit Loan

Credit Loan


A Credit loan or bad credit loans are available from a number of financial service providers. You gain credit as soon as you have a credit card, a cell phone contract or a mortgage. Depending on how good you are the repayments will reflect on your credit rating. If you fail to pay back the “loans” at a specified rate you will end up with a bad credit rating and you may have to take out a credit loan to sort out the payments that you are in lieu of. A credit loan broker will search the market to try and find the best loan for you. Secured and unsecured loans are available. You need to be careful with your repayments on credit loans as you risk losing your assets if you do not repay the loan on time.




If you can no longer afford  to pay your debts, Debt Counselling could be of helphttps://www.ncr.org.za/2014-04-24-13-56-22/242-if-you-can-no-longer-afford-to-pay-your-debts-debt-counselling-could-be-of-help

At times and for many reasons such as recession, change in circumstances and others, consumers find themselves in a debt trap and no longer able to pay their monthly debt repayments. Consumers who are in this situation should not hide, feel despondent or despair; there is a debt relief measure in terms of the National Credit Act (NCA) which could provide relief. This debt relief measure is called debt counselling which is offered by National Credit Regulator’s (NCR) registered debt counsellors, says Kedilatile Legodi, Manager: Debt Counselling at the NCR.

Through debt counselling, consumers can be assisted by getting advice on how to budget and a debt counsellor will negotiate with credit providers on behalf of the consumer for reduced payments and ultimately restructure their debts. “If your income is not enough to pay for all your living expenses and all of your debts, chances are that you could be over-indebted.” There are a number of signs that can assist to check whether a person is over-indebted or not, such as a consumer who cannot repay his / her debts on time as agreed with credit providers; taking out loans in order repay other loans; using a credit card and / or overdraft facility to pay debts, buy food and other necessities; skipping payments on some accounts in order to pay others; starting to receive letters of demand and summonses from credit providers and/or lawyers and having judgments granted against them. “These are the signs that should immediately prompt one to seek assistance before it is too late”, advises Legodi. “If you are experiencing any of the above signs, you should speak to your credit providers and negotiate for lower monthly repayments. However, if this process does not work, you can approach an NCR registered debt counsellor for assistance”.

“To be able to go under debt counselling, a consumer must be employed and have an income which will be used to offer reduced payments to credit providers”, clarifies Legodi

Consumers’ attention is drawn to the following important things to note if they are considering debt counselling:

  • Only make use of NCR registered debt counsellors. Upon registration, the NCR issues the debt counsellor a registration certificate and a window decal (green sticker) as a means of identification to consumers. If they are not visible, please request them from the debt counsellor;
  • Understand the debt counselling process, your rights and obligations prior to applying for debt counselling;
  • If you are married in community of property, you must jointly apply for debt counselling with your partner;
  • All debt counselling applications must be reduced to either a court or consent order;
  • Debt counselling service is not free of charge – visit the NCR website for a fee guideline on www.ncr.org.za and request a written disclosure of applicable fees prior to applying for debt counselling;
  • You have a right to request for, and be provided with reasons if your application for debt counselling is rejected;
  • Do not give/pay the debt counsellor money to pay your credit providers. You can either pay your credit providers directly or use a Payment Distribution Agent (PDA) that is registered with the NCR. There are currently only four NCR registered PDAs whose details can be found at www.ncr.org.za or by calling the NCR on 011 554 2600;
  • If you experience any challenges under debt counselling, your debt counsellor is your first point of contact. Make use of your debt counsellor and always ensure that you are kept in the loop on the progress of your application;
  • If your debt counsellor is un-contactable, please contact the NCR immediately for assistance.

Consumers are also encouraged to remain responsible for their finances when they are under debt counselling. “They should ensure a full and correct financial disclosure at time of application, make monthly repayments as agreed on the restructuring plan, follow up on monthly payments made to the PDAs and also ensure that they understand the process, applicable fees and implications”, says Legodi.

Legodi also clarifies the following points about debt counselling:

  • Debt counselling does not cancel your debts, it helps you make reduced payments using your disposable income;
  • When under debt counselling, consumers cannot apply for further credit;
  • A consumer’s credit bureau profile will display a debt counselling flag/indicator until a clearance certificate is issued by the debt counsellor;
  • Debt counselling process does not have a specified period to run, it depends on each consumer’s financial circumstance and the type of credit agreements the consumer has;
  • You can be issued with a clearance certificate even if you have a home loan that is not paid up. As long as the home loan is up to date and you have paid up all your short term debts including a vehicle finance;
  • Debt counselling is not a savings plan – Don’t fall for advertisements that promise you over 60% savings on your monthly instalments.

“Remember, it is debt counselling and not debt cancelling. Therefore, you are still liable to pay your debts when under debt counselling”, concludes Legodi.

Article Issued by: The National Credit Regulator

Credit Pretoria

Credit Pretoria

Credit Pretoria


Looking for credit in Pretoria? Credit salvage companies can help you! Credit Pretoria can help you when you are looking for a personal loan or a home loan. Credit Pretoria will find the best and most competitive loan for your needs. Credit Pretoria also offers invaluable services such as: Debt consolidation and help with rescission of judgements. If you have been blacklisted credit Pretoria can help you with small but invaluable services such as applying for a cell phone contract. Credit Pretoria’s customer service will offer the best advice for any kind of credit need.

For more information Request a Call Back or Contact Us



Other important articles

Help with Debt Consolidation

Debt Consolidation Help

Debt Consolidation Help


Dealing with false promises and false perceptions about Debt Consolidation Help


A credit provider company or bank will be able to give you debt consolidation help. If you feel you are drowning in debt you might be thinking it is time to get help with debt consolidation. Debt consolidation help has a perception that it will enable you to take all your debt and put it under a single loan, making repayments easier. 

Every bank or credit provider company has its Interest rate and credit policy, and it is up to the credit provider to decide whether you can afford the repayments on the loan. 

It is advisable to get debt consolidation help from a registered and reputable debt consolidation company. There is also a misconception that a debt consolidation loan will help you save hundreds if not thousands!

Dealing with the truth about debt consolidation loans.

If you have reached a point in your life where your debt is becoming a problem to repay you might have considered applying for a debt consolidation loan. 

As soon as you have thought about the info that is supplied to you in this short article about Debt Consolidation Loans, you will be in a much better position to identify whether a Debt Consolidation Loan is the most suitable choice out there for you today.

In easy terms, Debt Consolidation Loan is a loan that gets granted to supply you with the funding needed to pay off all your present financial obligations while only having the consolidation loan to repay. 

Will You Get Approved for Debt Consolidation Loan?

In this day and age with the strict National Credit Act and reckless lending rules, it is difficult to get a Debt Consolidation Loan. To qualify you must have a squeaky-clean credit history and a credit score that is not in the proverbial risk zone. Simply put, to get a Debt Consolidation Loan, you will not have any adverse accounts reflecting on your credit report.

The disadvantages with a Debt Consolidation Loan are that if you do qualify for a loan the amount on offer might not be enough to cover all your debts. Consumers will still take the loan even though the amount is not enough to cover all debts creating an extra massive debt burden to settle. 

Before considering a debt consolidation facility, please contact us first. Our debt counselling product might be a far superior product to assist you to get rid of debt.

Read more about Debt counselling here Debt review process step by step

Other important articles

Credit Salvage Companies in South Africa

Credit Salvage Companies

Credit Salvage Companies


Credit Salvage companies offer a number of invaluable services that can help you in any kind of financial problem. If you are looking for debt consolidation or recession of judgements, credit salvage companies can help you find the best solution for your needs. Credit salvage companies also offer personal loans to help you with school fees, holidays and emergencies. For home loans credit salvage companies offer competitive rates as they will shop around on your behalf. If you are blacklisted, credit salvage companies can help you, from clearing judgements to the more everyday issues such as getting a cell phone contract.

For more information Request a Call Back or Contact Us





Trading Name : Credit Salvage Debt Counsellors
Phone : 087 898 0897
Fax : 0865374733
Email Address : This email address is being protected from spambots. You need JavaScript enabled to view it.
Final Registration Date : 2014-04-07
NCR Registration No. NCRDC2338
Physical Address : 63 North Road, Linden
Postal Address : PO Box 5725, Cresta, 2118
Town : Linden

Hellopeter Profile

Credit Salvage Corporation SA (Pty) Ltd
Credit Salvage on Hellopeter Consumer Portal


Average rating of 4.13 from 15 reviews

Other important articles






Employers and Debt counselling in the work place

Employers and Debt counselling in the workplace


Stress caused by financial worries has and will always 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 get 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 affect 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 workplace

  • 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 workplace 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 the financial stresses of your employees please contact Credit Salvage at This email address is being protected from spambots. You need JavaScript enabled to view it.



Quick Links


                              Home       About Us       Debt Counselling       Credit Clearance       Resources       Calculator       Blog      Client testimonials                                 


Right Click

No right click