Under Debt Review? What Does This Mean

You may have heard the term ‘debt review’ and wondered what it actually means. The main
purpose of debt review is to assist consumers – those who are overindebted – to make debt
their repayments, without struggling financially.

What is it?

Debt Review is a process of handing over your debt negotiations to a Debt Counsellor. When
you meet with the Debt Counsellor, he will determine whether you are overindebted. In
addition, he will make a list of all your debt, and look at the amount of money you have coming
in each month. Then, he, along your help, will work out a payment plan on your instalments
and interest options with your creditors. He then negotiates on your behalf with all your

Thereafter you are placed on the National Credit Bureau’s NCR Debt Help database, and all your
creditors are notified as such, and a consent order is issued.
The new repayment plan is affordable to you. It will cover the new repayment amount, which is
paid over each month to a PDA. The Payment Distribution Agency will pay your creditors on
your behalf. You will still have sufficient money to meet your living expenses.


There are numerous benefits to applying for Debt Review. The most important one is that you
will be able to become debt-free, and while doing so, your assets are protected. In addition,
you are protected from creditors taking legal action against you.
Once you have completed your Debt Review process and all your debts are repaid, you will
receive a Debt Clearance Certificate stating that have settled all the debt and are now debt
The Debt Review process was introduced in 2007 by the National Credit Regulator under the
National Credit Act (NCA) 34 of 2005.

Real Assistance

Debt Review is excellent assistance for South African consumers who are struggling to repay
their debt. To apply, you do need to be over 21 years of age, employed and earning a consistent
monthly salary. It is a way that can help alleviate the stress associated with debt. The debt
review process can help you to learn to better manage your money.

For assistance or more information about Debt Review, speak to One Debt today.