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About Our Debt Counseling Service

Smart Debt Solutions is a growing South African company specializing in professional debt reconciliation services, commonly referred to as Debt Review. Our mission is to assist over-indebted individuals in managing and reducing their debt through a regulated legal process governed by the National Credit Act (NCA).

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Image by Towfiqu barbhuiya
Image by Towfiqu barbhuiya
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Empowering Financial Freedom

At Smart Debt Solutions, we aim to restructure our clients' debt into an affordable monthly payment while safeguarding them from legal repercussions and asset seizure. Our team negotiates directly with creditors and provides step-by-step guidance to ensure a smooth process towards financial stability.

FAQ's

  • Can I apply for Debt Review if I’m unemployed?
    Generally, no. Debt Review is based on your ability to repay your debt in reduced installments. Without a source of income, the Debt Counsellor will not be able to create a workable repayment plan.
  • How long does Debt Review last?
    Typically between 3 to 5 years, depending on your debt amount and repayment capacity. Once all your debts are paid off (except possibly your home loan), you can exit the process.
  • What are the benefits of Debt Review?
    Single affordable monthly repayment Legal protection from creditors and repossession No more harassment from credit providers Reduced interest rates Peace of mind and structured path to becoming debt-free
  • What happens after I finish Debt Review?
    Contact Your Debt Counsellor which will issue a Clearance Certificate (Form 19). This gets sent to all credit bureaus and creditors.
  • Will I be blacklisted if I go under Debt Review?
    No. You won’t be blacklisted, but you will be flagged at credit bureaus as being under Debt Review. This means you won’t be able to take out new credit while under review.
  • Can I exit Debt Review early?
    Yes, but only once your debts are fully paid off, or if a court rescinds the review (usually only if you were wrongly found over-indebted). Simply changing your mind or becoming employed after being unemployed does not automatically cancel the process.
  • How do I qualify for Debt Review?
    You must be over-indebted, meaning your expenses exceed your income, and you are struggling to meet monthly debt repayments. A Debt Counsellor will assess your income, living expenses, and debts to determine eligibility.
  • Will my assets be repossessed during Debt Review?
    No. Once you’re under Debt Review and your Debt Counsellor submits your proposal to creditors, your assets are legally protected—as long as you stick to the agreed payment plan.
  • What is Debt Review?
    Debt Review is a formal legal process introduced by the National Credit Act (NCA) in South Africa to help over-indebted consumers repay their debts in a more manageable way. A registered Debt Counsellor assesses your finances and negotiates with creditors to reduce monthly payments while protecting you from legal action.
  • What debts are included under Debt Review?
    Most unsecured debts such as: Credit cards Personal loans Store accounts Vehicle finance Home loans Excluded: Debts like fines, informal loans, or future debts are not covered.
  • Can I apply for credit while under Debt Review?
    No. The National Credit Act prohibits additional credit while you are under Debt Review to avoid worsening your financial situation.
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