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Debt Review

Introduced to South Africans through the National Credit Act in 2017, debt review assists over-indebted customers by relieving them from monthly repayments. Our expert debt of debt advisors with ensure that we prevent you from getting blacklisted and dealing with the consequences of the law.

DEBT REVIEW

Debt review is the greatest means of regaining financial independence and ultimately achieving a debt
free life.

HOW DO I KNOW IF DEBT REVIEW IS FOR ME?
QUICK ASSESSMENT:

  1. Do you struggle to meet your monthly obligations?
  2. Have you ever had to make a decision in choosing which debts you will pay and which you
    would skip?
  3. Do you make use of extra debt or financial assistance such as a credit card as a means to survive?

If you have checked “YES” to any 2 or more of the check boxes, do not fear, at IDS we have the solution for you! At IDS, we will assist you in taking the first step to financial control by providing you with a debt-free lifestyle.

Let’s start with understanding debt review.
WHAT IS DEBT REVIEW?
Debt review is the process aimed to help consumers who are finding financial difficulty or unable to
meet their debt requirements. A registered debt counsellor makes a proposal to your debtors and
thereby arranging a payment agreement on your behalf. This payment arrangement is a reduced
monthly amount that is agreed upon and affordable to the client’s financial needs.

ARE WE REGISTERED AND WITH WHO?

IDS is registered with the National Credit Regulators (NCR) of South Africa. The NCR is responsible for the regulation of the credit industry. They are also responsible for the regulation of the debt counselling industry that that educates and informs consumers on debt relief measures and educates them on the entire credit policies. We pride ourselves in following and adhering to the protocols prescribed by the NCR in relation to the National Credit Act.

HOW DO I GET STARTED?

  1. To have a consultant contact you, submit your contact details to the site.
  2. A telephonic courtesy assessment will be done to see if you meet the requirements.
  3. If requirements met, the process will commence.
  4. Your monthly installments will be restructured,
  5. Reduced installments payments begin.
  6. Attorneys to approve new repayment plans at the Magistrates Court.

WHAT ARE THE PRO’S AND CON’S OF DEBT REVIEW?

PRO’S

  • Your assigned debt counsellor will negotiate with your creditors
    You are legally protected against harassment from creditors and debt collectors
  • Your assets will be safe from repossession
  • You will ONLY pay one consolidated payment
  • Your installments will be reduced up to 60% less
  • Your credit status will be reinstated once your debts are settled

CONS:

  • You will not be allowed to make new debt while under the debt
  • You will be flagged under debt review but not blacklisted