What is debt counselling or debt review?
Debt Counselling or Debt Review is a provision within the National Credit Act of 2005. It offers the consumer of credit the opportunity to apply via a registered debt counsellor to have their monthly creditor obligations (instalments) reduced to an amount that is ‘affordable’ to him/ her. Affordable - The debt counsellor must also apply the regulations as set out in the Act and adhere to best practices as set out in the rules applied by the National Debt Mediation Association.
