Drowning in debt? You’re not alone. Lots of South Africans are battling to meet their financial commitments. If your monthly repayments on your house, car, credit cards and accounts have risen so high you’re facing blacklisting, one option is to go into debt counselling or debt review. The debt review process was introduced in 2007 with the National Credit Act (NCA). The benefit is that, while you’re getting debt counselling and in the process of paying off your debts, legal action can’t be taken against you. Bear in mind that you can only take advantage of this process if you have a regular income to develop a reasonable repayment plan.
