How do I remove a debt review flag in South Africa?

Hi Guys,

In this video I discuss what debt consolidation is. Debt consolidation is getting one loan and paying all the other loans using that one loan.

When consolidating debt, your qualifying accounts are reduced into one single monthly payment at a fixed interest rate, freeing up cash. A Consolidation Loan is designed to simplify your finances, so instead of having several lending and credit accounts to manage, you’ll have just one

The advantages are:
1. A single service fee and credit protection plan.
2. The Personal Protection Plan will settle your outstanding loan balance in the event of your death, permanent disability or certain dread diseases.
3. A single fixed monthly payment.
4. Lower monthly payments on your qualifying credit; consolidating debt frees up cash.
5. A fixed loan term that avoids the cycle of revolving credit. 
6. Your monthly repayment of the qualifying credit will be lower than what you’re currently paying. 
7. Consolidating your debts will give you only one loan to pay off and one interest charge instead of many

Things to consider:
1. Your consolidation loan might have a longer repayment period than your other personal loans. This could translate into paying more interest when loan terms are extended.
2. Consolidating smaller accounts, such as store accounts, might take longer to pay off.
3. With more money on hand, it is tempting to spend on more credit. Remember, it is about getting rid of debt and not making more debt. Spending more could get you back to square one.
4. When consolidating debt, it is smart to do some careful calculations. It is not about the duration and amount your monthly payment is alone, but also about all the costs involved when you take credit.
5. It is a good idea to get an online quotation before you decide to take out a single loan to settle your debts. You can then ensure the consolidation is going to benefit you and will be affordable enough to pay off.

Remember to do you own research and make an informed decision.

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Riaan Cruywagen Does a finansiële nuus, skit for DCGsa on their win at the Annual Debt Review Awards 2021. (in their respective category)

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Credit Providers are aggressively pursuing collections after the end of payment holidays .
Due to retrenchments, salary cuts, and short time, consumers are financially stressed and unsure of their future.
We will probably see this situation get worse for the foreseeable future before it finally starts getting better.
If you would like a plan for your financial future let us assist you with REDUCED DEBT REPAYMENTS and REDUCED INTEREST RATES that your credit providers will accept.
Call us today so you can have a stress free tomorrow.
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help@dcgsa.co.za
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Thanks MyFanPark for making the video possible.

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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Tel: 064 587 5476

Thanks!

Debt Review Fees Under the Microscope
In this series we are looking at Debt Review pitfalls in South Africa and what they charge for making debt review payments. Looking at debt counselling Fees in South Africa 2023.
We are on a quest to get you out of debt in South Africa.
Which will also highlight some of the worst practices by debt review companies in south africa.

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@AbsaBankLtd
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In this video I go into detail of how you can get removed off the debt review process.

Below is the link to document by NCR with all the withdrawal details :

https://www.ncr.org.za/documents/27%20May%202021-Debt%20Withdrawal%20%20review.pdf

Are you struggling with debt in South Africa? Don’t despair. With debt review you can get your finances back on track and become debt-free. In this video, we’ll show you how South African debt review can help you pay off your debts faster and more affordably.

First, we’ll explain what debt review is and how it works. We’ll walk you through the debt review process, including eligibility requirements, application procedures, and fees. You’ll learn how debt review can help you pay off your debts faster while protecting you from legal action.

Next, we’ll discuss the benefits of debt review, such as lower monthly payments, legal protection, and improved credit score. We’ll address common misconceptions about debt review and explain how it differs from other debt relief options.

We’ll also recommend some of the best debt review companies in South Africa based on their experience, reputation, and affordability. You’ll learn about the services each company provides, their fees, and customer reviews to help you make an informed decision.

With South African debt review, you can finally take control of your finances and become debt-free. Don’t let debt ruin your life – watch this video and learn how debt review can help you achieve financial freedom.

Check if you qualify here: https://bit.ly/3IsnpGh

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If you’re struggling with debt in South Africa, it’s important to understand how the National Credit Act and debt review can help you get your finances back on track. In this informative video, we’ll cover everything you need to know about the National Credit Act and debt review in South Africa.

First, we’ll explain what the National Credit Act is and how it protects consumers from predatory lending practices. We’ll discuss the key provisions of the Act and how it regulates credit providers and credit bureaus in South Africa.

Next, we’ll dive into debt review and how it can help you manage your debts under the National Credit Act. We’ll explain the debt review process, including eligibility requirements, application procedures, and fees. You’ll learn how debt review can help you pay off your debts faster while protecting you from legal action.

We’ll also discuss the benefits of debt review, such as lower monthly payments, legal protection, and improved credit score. We’ll address common misconceptions about debt review and explain how it differs from other debt relief options.

Finally, we’ll recommend some of the best debt review companies in South Africa based on their experience, reputation, and affordability. You’ll learn about the services each company provides, their fees, and customer reviews to help you make an informed decision.

Whether you’re struggling with credit card debt, medical bills, or other financial obligations, understanding the National Credit Act and debt review is essential to regaining control of your finances. Watch this video to learn everything you need to know about the National Credit Act and debt review in South Africa.

Check if you qualify here: https://debthelp4u.co.za/

Keywords: National Credit Act, debt review, South Africa, process, benefits, companies, eligibility, application, fees, misconceptions, debt relief, lower payments, legal protection, credit score.

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

Here are the debt couselling or debt review advantages and disadvantages listed. This will help you determine if debt review is for you?