As The National Credit Act explained in 2005, consumers who use credit have rights and
protections. Predatory and unfair lending practices are prohibited as is discrimination in
lending and the reckless granting of credit. So, under this act, those who meet reasonable
financial standards can finance a car, take out a loan and buy just about anything using a
credit card. It’s good for the South African economy as a whole. It’s a convenient way to buy
everyday necessities, rather than carrying cash. Credit helps individuals and families through
hard times such as medical emergencies, car repairs, appliance replacements, temporary
employment interruptions and more.

Debt Counselling is a Provision of The National Credit Act

Unfortunately, you may be one who finds themselves unable to pay off credit debt in a
timely manner. As explained, The National Credit Act of South Africa is structured to provide
for debt reorganisation and debt counselling services in cases of over-indebtedness. This
situation could be caused by many things from long-term unemployment to poor money
management. If this describes you then you will be pleased to know that help is at hand.
Debt counsellors are authorised to assist with Debt Reviews. Their services are authorised
by the National Credit Act to help those over-indebted to develop an affordable repayment
plan. It’s important to understand that you are not declaring insolvency. The plan is an
agreement arranged by us for you and agreed to by your creditors, so you can pay back your
debt.

Debt Restructuring is Made Available by The National Credit Act

Debt Review is an option made available and it has benefited many individuals and families.
You will need a job so there is income to make one monthly payment which they, on your
behalf, disperse to your creditors. One of the first things you notice is the threatening phone

calls and letters cease. If you have been living with that kind of pressure, then your physical
and emotional health is being negatively impacted. By making use of Debt Review, you will
be following a carefully organised financial plan that allows you to meet your own needs
and still pay your debt.

Need more information about the National Credit Act can help you? Speak to One Debt
today.