How to compile and lodge a Debt Review Application befor ethe National Consumer Tribunal

When Courtney and Chad had beautiful twin girls, they weren’t ready for the not-so-beautiful reality of incurring double the costs to provide for their children, or the almost $70,000 in debt they would accumulate over Courtney’s maternity leave. Between Courtney’s penchant for adorable baby clothes and Chad’s smoking habit, and without an emergency fund to cover unexpected costs, their financial future is looking grim. It’s up to Gail Vaz-Oxlade to help these two to break their bad habits so the twins won’t have to grow up doing without. If Courtney and Chad are up for the challenge, they could earn up to $5,000 to put toward their family’s future. If they aren’t, their hopes and dreams for the twins could go up in smoke. –
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What is debt mediation

It is vital to know when help is needed if we find ourselves within a Debt Trap and how to Respond, Rebuild & Repay.

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Hi,

In this video I discuss debt review in South Africa. Debt review is a legal process that assists over indebted consumers with resolving their debt problems.
Process of debt review is:
To start the process, you would contact a qualified debt counselor, preferably a registered one with the National Credit Regulator. They would assess your financial situation, your income and your debts to determine if you truly are over-indebted. Over indebtedness means that you are not able to afford your obligations every month.
If positive, they would work with you to come up with an effective debt payment plan tailored to you. This includes giving your creditors a payment proposal, and if they accept, you’ll make one monthly payment to the debt counselor. The counselor will then pay your creditors on your behalf. This means that you don’t have to interact with creditors directly anymore.
Advantages of debt review:
1.If you have applied for debt review before any legal action was taken against you, then your assets (the things you own) are safe from repossession.
2. From the moment you are placed under debt review, you no longer need to deal with intimidating debt collectors who continuously harass you. When they call or contact you in any way — just tell them to contact your debt counsellor.
3. Your interest rates on your unsecured debt can be lowered down to as little as 1% — and your repayment terms can be lengthened.
With lower monthly interest rates and longer terms, your monthly repayments on your debt will be less.
4. All your payments will be consolidated into one monthly installment.
5. Your debt is consolidated without an expensive loan.
6. Since you pay less on your monthly debt, you have more money available for your essential living expenses like food, electricity and transport.
7. A good debt counsellor will go through all of your accounts and be able to assess whether you are the victim of reckless lending by your creditors. If this is the case, that debt could be entirely written off.
Disadvantages of debt review:
1. After your initial assessment with a debt counselling company, you may be informed that your current situation does not qualify you to go under debt review.
2. Some of your accounts, especially those which have been subjected to legal action, may be excluded.
3. Your debt may take longer to repay.
4. You may have to give up on a few luxuries in your life, but once you 5. become become debt free, it will undoubtedly be worth it.
5. You will be “flagged” at the credit bureaus — but you will not be “blacklisted”.
6. You will not be able to use any of your retail store cards or credit cards.
You will not be able to apply for new credit.
8. Its important to note that you have to continue to pay as per your agreement.
Process of debt review:
When you contact a reputable debt counsellor you will be given a free debt assessment to determine your level of debt and whether debt counselling is a potential solution for you.

If the assessment determines you are over-indebted and could benefit from debt counselling, you then decide whether to formally apply.

the debt counsellor will do most of the heavy lifting by informing all your creditors and the credit bureaus that you have applied for and are undergoing debt counselling

As part of the process the debt counsellor negotiates reduced monthly payments on all credit agreements that fall under the National Credit Act

Once more affordable repayment terms are negotiated, your rearranged debt is approved at a court or the National Consumer Tribunal to ensure the renegotiated rates are fixed for the duration of the debt counselling.
The magistrate’s court needs to make a finding that you are over-indebted and accept the payment proposal before it can be made a court order. 
This means creditors cannot change the terms or demand higher payments.

You will make one affordable payment each month, which is distributed to creditors included in the debt counselling for the duration of the plan.

Debt counselling usually lasts for between three and five years, depending on the amount of debt, the arrangements the debt counsellor is able to negotiate with creditors and what you can afford to repay each month.

Conclusion: Please do research and make an informed decision. This video is for information only

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Learn how debt consolidation works, what your options are, and how it can simplify your monthly payments.
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Learn how debt consolidation works, what your options are, and how it can simplify your monthly payments.

Timestamp Sections:
00:00 Intro
00:51 What is Freedom Debt Relief
01:54 What is National Debt Relief
02:42 How Freedom Debt Relief Works?
04:26 How National Debt Relief Works?
05:40 Plans & Pricing
06:21 Freedom Debt Relief Benefits
07:23 National Debt Relief Benefits
08:18 Considerations
09:19 Final Thoughts
09:36 Outro

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Overview of Freedom Debt Relief and National Debt Relief
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In today’s video, I’m sharing my personal experience and a detailed review of two of the biggest names in debt consolidation: Freedom Debt Relief and National Debt Relief. Freedom Debt Relief uses a strategy called debt settlement where you save money into an FDIC-insured account, and they negotiate to settle your debts for less than you owe — no upfront fees or credit checks required. Meanwhile, National Debt Relief focuses more heavily on actually reducing your total debt through negotiations. Both companies have helped hundreds of thousands regain financial control, but their approaches and features are slightly different, and I’ll help you understand which might be the better fit for your situation.

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How Their Programs Work
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Both companies make the debt consolidation process surprisingly simple and accessible. Freedom Debt Relief starts you off with a free consultation, setting up a step-by-step plan, and provides helpful tools like a 24/7 online dashboard and a Legal Partner Network for extra support if creditors escalate. National Debt Relief also offers a free consultation, requiring at least $7,500 in unsecured debt to qualify, and builds a personalized plan aimed at negotiating your debts down significantly. Freedom focuses more on transparency and ongoing support, while National leans into securing better discounts to help you pay off your debt faster.

————————————————
Costs, Benefits, and Final Thoughts
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When it comes to pricing, both services charge fees ranging between 15%–25% of your total enrolled debt, and only after a successful settlement is reached. Freedom Debt Relief stands out with its money-back guarantee and additional legal resources, offering peace of mind throughout the journey. National Debt Relief excels in aggressive negotiation strategies and being upfront about risks like potential short-term credit impacts. Freedom operates in 38 states, while National is active in 42, giving slightly broader coverage. Either choice can be a smart move if you’re serious about regaining financial freedom — check the links below if you’re ready to start your journey today!

Hope you enjoyed my How Does Debt Consolidation Work | Everything Explained Thoroughly Video.