Myths Busted

Who Qualifies?

If you are 21 years or older, living in South Africa and earning an income, you can apply for the debt review process. If you are unable to meet your credit obligations or find your financial life spinning out of control – Doctor Debt may be able to help you. The sooner you speak to us the sooner we can help!

What Does It Cost?

The only cost to start the process is a once-off R50 application fee which will be added to your first payment. That’s it. The cost of your personalized debt review is built into your monthly repayment plan. Our fees are structured to the guidelines set out by the NCR.

Is This A Debt Consolidation?

No. Debt consolidation can sometimes put you further into debt for a longer period. Our aim is to help you eradicate your debt altogether in the shortest possible time. We do not advise debt consolidation.

When Can I Start Debt Counselling?

Immediately after completing and signing a Form 16 and submitting a copy of your Identity Document. Should you qualify, your application will be processed immediately.

How Do I Apply?

See if you qualify by filling in our form to call you, email us, phone or SMS us, WhatsApp us or just pop into one of our conveniently located branches. Whichever way you choose to get in touch, a friendly consultant will be on hand to assist you every step of the way.

How Does It Work?

If you have completed the necessary documentation, we’ll start by analysing your budget to determine if you qualify for debt review. The shortfall between your income and expenses will be structured such that you can manage your life again, make consistent debt repayments and still have money to live.

Is This A Loan?

No, this is a negotiated process in which your current debts are re-structured in such a way that you can afford to pay them back within your budget.

I’ve been summoned to court, does debt counselling cover this?

No, it does not. However, in our experience, attorneys and creditors may respond favourably to the debt review programme and often agree to have this included in the debt review process where the repayment offer is reasonable.

Will I be Listed on the Credit Bureaus?

Yes, once your application is complete you will be listed. All your credit providers will be notified that you are undergoing the debt review process and that they may not lay a claim to your assets, bother you or force you to pay your debt – you can refer them all to us.

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