How to Spot a Dubious Debt Counsellor

If you are over indebted and have decided to approach a debt counsellor to assist you with
applying for debt review, it is in your best interest to use the services of a professional. It is
also in your best interest to use the services of a registered, qualified debt counsellor of
good standing.

Why do I need a debt counsellor?

The services of a debt counsellor are necessary when you have become over indebted,
where your income is insufficient to cover your debt. By applying for debt review, with the
help of a debt counsellor, you will be able to manage your debt responsibly. This is done by
creditor negotiation on your behalf where an affordable repayment plan is designed and

Which debt counsellor do I choose?

A debt counsellor, regardless of whether he is working for a debt relief company or
independently, needs to be qualified and registered with the National Credit Regulator
(NCR). In order to register with the NCR he needs to have successfully completed a debt-
counselling course that is approved by the NCR that is offered by a training provider that is
also registered with the NCR. He will also need to have at least 2 years’ experience working
in a related field. It is wise practise to do a little of your own research before approaching a
debt counsellor. Most debt relief companies have a testimonials or references page on their
website. You could also listen to the opinions of friends and family if they can been
counselled by a debt counsellor. Another way to check the debt counsellor’s authenticity
and qualification is to have a look at the Debt Counsellors Association of South Africa. They
are thorough and can provide insightful information on current registered debt counsellors.
You could also rely on your own intuition. If the debt counsellor you approach makes you
feel hesitant, there is probably a reason for your feelings. A debt counsellor should be a
people person and should make you feel at ease when you meet with him or her.

To find out more about how to spot an untoward debt counsellor, speak to One Debt today.