Here’s how debt counselling payments work at GDC:
???? One affordable monthly payment is calculated based on your income and expenses.
???? You pay this single amount to a Payment Distribution Agency (PDA) registered with the National Credit Regulator (NCR).
???? The PDA then distributes your payment to all your creditors — on time and fairly.
???? You get a clear, monthly statement showing exactly where your money goes.
????? This process is secure, legal, and fully transparent.

? No more juggling multiple payments
? No more dealing with threatening phone calls
? Just ONE fixed monthly payment — and peace of mind.

???? Start with a FREE debt assessment now:
???? https://gautengdebtcounselling.co.za

#DebtCounsellingExplained #HowItWorks #GDC #DebtReliefSouthAfrica #SecurePayments #NCRRegistered

Can I get a job while under debt review?

It’s simple and stress-free:

? You make one affordable monthly payment based on your budget
? It gets paid to a registered Payment Distribution Agency (PDA)
? The PDA safely distributes the money to your creditors for you
? You receive a clear statement every month showing where your money goes

No more multiple bills. No more missed payments. Just one easy, managed instalment.

Take back control today ???? www.gautengdebtcounselling.co.za

#DebtReview #DebtCounselling #GautengDebtCounselling #TakeBackControl #DebtHelp #FinancialRelief

Seventy-five percent of respondents surveyed by DebtBusters Money-Stress Tracker say they are under financial stress.

One of the many concerns from this group of people is the fear of running out of money as well as not being able to pay off debt.

The survey was done online between May and June this year. It also found that respondents are less stressed about interest rate hikes as well as loadshedding.

For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.

Municipal debt to Eskom has come under the spotlight following the recent admission by the Electricity and Energy Minister Dr Kgosientsho Ramokgopa that the power utility may not be able to recover all the monies owed. To date, municipalities owe Eskom R78 billion. According to the minister, the debt to Eskom must be urgently addressed to protect the power utility’s ability to fulfil its mandate.

For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.

Do not be scared of threatening legal letters when you are under debt review. Leave the legal matters to us.

According to the National Credit Act (NCA), every consumer under debt review has the right to be legally protected.

PLEASE FEEL FREE to contact us on 021 003 8733, on our National Debt Advisors Facebook page or fill out a contact form on our website at www.nationaldebtadvisors.co.za

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!

The National Consumer Commission says it has received a number of complaints from consumers who have been placed under debt review without their consent.

The National Consumer Regulator has called on consumers to do their homework before agreeing to undertake a debt review to ensure they know what they are getting themselves into.

Debt counsellors who do not abide by the law run the risk of incurring legal costs to remove consumers from the debt review process.

For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.