Understand how credit counseling works. How credit counseling can make paying off credit card debt easy, affordable and stress free.

Who needs credit counseling? We suggest anyone with over $10,000 of credit card debt, current with their payments but struggling to pay more than the minimums is a good candidate for counseling.

The credit counseling process. A credit counselor begins the process with some simple intake questions such as marital status, number of people in household and what the client’s goals are. Next, we pull their credit report. This is a soft pull; therefore, it will not affect their credit. Now, the counselor will review liabilities. This includes any mortgages, car loans, credit cards, student loans, personal loans or any other accounts showing a balance. Next, the counselor will confirm the balances and the monthly payment amounts with the client. In some cases, we may need to obtain the interest rates on accounts from the client over the phone.

Recommendations
One of the recommendations might be enrolling into a debt management plan. On this plan, the client usually receives lower interest rates and lower payments. As a matter of fact, last year, the average client had their total payment decrease from $915 to $694 on our program. That’s a 24% decrease payment for our average customer. They also saw their average interest rate fall from 23% down below 7%.

Credit Effect
A Debt Management Plan typically has a neutral effect on your credit. You might see your score initially go down because your accounts get closed. For people that are already maxed out on their cards, they probably don’t see much change in their score at the beginning since their score is already on the lower end. But over time, as long as payments are being made on time to all accounts and new accounts are not getting opened outside the program, you should see your score gradually increase. A recent study at DebtWave showed the average client’s scores increasing about 15 points per year.
But we don’t recommend focusing so much on your credit score as a good credit score will ultimately lead you to acquiring more debt. If you have a large amount of credit card debt, focus on paying it off and nothing else. Learn to live within your means! Spend less than you make. Become Debt Free and stay that way!

Debt Management vs. Debt Settlement
A Debt Management Plan often gets confused with Debt Settlement. These plans are very different so it’s important to know how they work. A Debt Settlement Plan requires you to starve your creditors of payments for months and months and sometimes years. This of course can ruin your credit. Once the accounts are severely delinquent, the creditors will settle for about 50% of what you owe. The debt settlement company will collect monthly payment from you but won’t disburse payments until you’ve saved about 50% of one of your debts. Not only do you need to be cautious of the credit effect, but you need to understand the tax implications as well. Whatever amount of debt is forgiven will be considered taxable income. So let’s say you have $10,000 of debt and you successfully reach a settlement for only $4,500. The $5,500 debt that was forgiven becomes taxable income. Expect to pay 20-25% to Uncle Sam, so around $1,200 will be due to the IRS. And you may get sued by creditors along the way. When you fall that far delinquent, some creditors may take action to try to garnish your wages. We would avoid this debt settlement program unless you absolutely cannot afford payments on your own or the payments on a debt management program.

What to expect after enrolling?
The enrollment process consists of you paying a start-up fee which is usually around $50-$99. That amount varies depending on the state you live in. Once the fee is paid, the credit counseling agency will then contact all your creditors by sending them what are called “proposals”. Most of these proposals are sent electronically but some creditors still live in the ice age and require these to be sent by mail or fax. Although, each creditor varies, most of them reply within a week with an “Accepted” or “Declined”. DebtWave usually has an 85-90% acceptance rate with the creditors. Now, when a creditor declines the initial proposal, most times it can be fixed. Some of the more common reasons for decline include the balance was incorrect and they want a slightly higher payment, the account number was incorrect, the name on the account doesn’t match or the account is already under a hardship plan. Regardless if the proposal has been accepted by your creditors, DebtWave will debit your payment and disburse the payment to your creditors. You have the option to make ACH payments weekly, bi-weekly, semi-monthly or monthly with DebtWave.

Who can beneifit from Credit Couunseling? We suggest anyone with over $10,000 of credit card debt, current with their payments but struggling to pay more than the minimums is a good candidate for counseling.

What if Tomorrow You told Today You that you could stop struggling with debt? Get ready, because you can! Debt consolidation could help you pay off multiple debts, by rolling them all into one monthly payment. Plus, it could help you manage debt and improve your cash flow with fixed rates and flexible terms.

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Spoiler alert: Future You still hates cilantro, sorry.

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How Debt Counselling Works Step by Step Explained
???? From Debt to Homeowner: John’s Journey Before and After COVID

Just before COVID hit, a guy named John reached out to me.

He was stressed… overwhelmed… and like many people, drowning in debt with no clear way out.

He looked at me and said,
“Ron, I know you’re into financial literacy… can you help me?”

I told him straight:

“I’m not a debt counsellor… but I can guide you and connect you with someone who actually cares about your future.”

Because here’s the truth—
Not all debt counsellors are the same.

Some call centres are just focused on taking your money every month…
But I work with people who follow the law properly and are passionate about helping you get out of debt—not keeping you in it.

So I referred John to a trusted debt counsellor who works according to the National Credit Act.

?? Step 1: The Assessment

The first thing they did was a full financial assessment.

They looked at:

His income
His expenses
All his debts

And very quickly, it was clear—John was over-indebted.

???? Step 2: Legal Protection

Once he entered debt counselling, something powerful happened…

He got legal protection.

Creditors could no longer harass him
Payments were restructured into one affordable amount
Interest and fees were controlled

For the first time in a long time… John could breathe again.

???? Step 3: One Affordable Payment

Instead of juggling multiple accounts, John now had:

? One monthly payment
? A structured plan
? A clear path forward

No more guessing. No more panic.

Just a system that works.

???? Step 4: Discipline & Mindset

This is where most people fail…

But not John.

He stayed committed.

He didn’t take new debt.
He followed the plan.
He changed his mindset.

Because getting out of debt isn’t just about numbers…
It’s about discipline and decisions.

???? Step 5: Debt Free

Fast forward…

John completed the process.

Paid up.

Cleared.

Debt free.

???? Step 6: From Debt to Homeowner

And here’s the part most people don’t believe…

Once he was debt free, I stepped back in.

We cleaned up his profile…
Positioned him correctly…

And today?

John now qualifies for a home loan.

???? The Lesson

This is what people don’t understand:

Debt counselling is not the end…
It’s the reset button.

If it’s done properly—
With the right people—
Following the law—

It can take you from:

?? Stressed and drowning
?? To structured and in control
?? To completely debt free
?? To owning your own home

???? Call to Action

If you’re sitting where John was…

Confused… overwhelmed… tired of debt…

You don’t have to figure it out alone.

I’m not here to sell you a quick fix—
I’m here to point you in the right direction.

???? Reach out to me
???? ronries.online
???? WhatsApp: +27 82 828 1258

Let’s put a plan together… the right way.

A short explanation of how the NFCC and non-profit credit counseling works.

Best Debt Consolidation Companies: https://secure.money.com/pr/c59c02dbaccd

Struggling with high-interest credit card balances, loan payments, or mounting monthly bills? In this video, we break down the debt consolidation strategy that actually works in 2026 — the exact method millions of Americans are using to take control of their finances and finally breathe again.

Whether you’re juggling multiple credit cards, dealing with rising interest rates, or searching for the smartest way to manage debt, this guide reveals the most effective, realistic, and proven debt consolidation solution available today.

We cover:
? What debt consolidation is (and what it isn’t)
? The 2026 strategy financial experts recommend
? How to lower interest rates on credit card debt
? Ways to combine multiple payments into ONE manageable monthly payment
? When consolidation is the right move — and when it’s not
? Tools and resources to help you get started

If you’re tired of feeling stuck or overwhelmed by debt, this video will give you the clarity and direction you need to take your next step with confidence.

???? Why Debt Consolidation Matters in 2026

With interest rates still high and credit card balances reaching record levels, many households are turning to debt consolidation for real relief. The right strategy can save you thousands of dollars and years of stress — but only if you follow the correct approach.

This video breaks down the most effective debt consolidation method for 2026, backed by data, expert insight, and real financial trends.

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Struggling with credit card debt? Debt mediation might be the step you’ve been looking for. We help create a personalized repayment plan and guide clients through negotiations so payments become more manageable.

See if you qualify: https://debtaidconsulting.com/debt-aid-contact-us-form/?utm_source=yt

???? Note: Our services cover credit card debts and unsecured loans from banks and financial institutions.

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Are you feeling overwhelmed by debt and unsure where to start? In this video, we break down how a debt review assessment works, guiding you step-by-step through the process. Learn what happens during your free assessment, what documents you’ll need, and how debt counselling can help you regain financial control.

As discussed in our recent Link FM interview, we’ll share why early intervention is key, especially before major life milestones like retirement. Discover how an assessment isn’t just about numbers—it’s about finding personalized solutions to reduce financial stress and pave the way for a debt-free future.

If you’re considering debt review or want to learn more, this video has all the answers! Don’t forget to like, share, and subscribe for more content about financial wellness and practical solutions to managing debt.

???? Visit our website for a FREE debt assessment: www.dcgsa.co.za
???? Contact us directly for assistance: 0861001047
???? Have questions? Drop them in the comments below!

Are you struggling with debt in South Africa? You’re not alone.
In this video, we explain what debt review is, who qualifies, and how the process works — step by step. Debt review (also called debt counselling) is a legal way to restructure your debt and get protection from creditors, repossession, and court action.

I will also cover:
• The role of a registered debt counsellor
• How you’re protected under the National Credit Act
• How debt review can help you become debt-free

? Need help with your debt? Visit www.debtwipe.co.za or email jacques@debtwipe.co.za

???? Contact us directly via WhatsApp: 073 285 4196

???? Like, comment, and subscribe for more practical advice on debt solutions in South Africa.

Citibank Debt Consolidation is designed to simplify your finances. Wondering how that works? Wonder no more with these FAQs!

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