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Do I qualify for Debt Review?
To qualify for Debt Review you need to have an income and you must be over-indebted. If you don’t have an income, you will not have funds available for distribution to creditors. Your monthly income must be less than your monthly essential expenses and monthly debt repayments combined.

How will I be able to afford the fees?
The Restructure Fee can be deducted from your funds available for distribution.

How long does it take to protect myself from my creditors?
After submitting your application form, the Debt Counsellor will send the notifications to all your creditors informing them that you have applied for Debt Review. You are immediately protected from your creditors taking legal action or harassing you for payment arrangements.

Can I apply for Debt Review if I am unemployed?
No, you cannot apply for Debt Review if you are unemployed. However, should you have the prospect of employment in the near future, you may apply.

Do I continue paying accounts once I have applied for Debt Review?
Yes. You continue to making payments, as per the recalculated amounts provided by our Debt Counsellors until a Consent Order has been signed by all creditors.

Can I continue using my credit cards, accounts, etc?
No, you must stop using all credit facilities immediately. You may also not apply for any new credit agreements while under Debt Review.

What if I have received a letter of demand?
A letter of demand usually informs you, according to Section 129 of the National Credit Act, that you have 10 days pay your arrears or to see a Debt Counsellor, to prevent legal action from being taken.

What if the Credit Providers don’t accept the proposal?
The Debt Counsellor will negotiate a new proposal, if necessary, refer the matter to the Magistrate’s Court for a decision.

Why use a Debt Counsellor?
Debt Counsellor's were formally introduced by the National Credit Act to help consumers who are having trouble with their debts. Debt Smart will negotiate with your credit providers on your behalf and design a manageable debt repayment plan that you can afford, so that you can take control of your finances and your future.

Will my details be sent to credit bureaus?
Yes, all credit bureaus will be notified that you have applied and will be updated frequently on your status in the process.

Can you cover all my debts?
We will include home loans, vehicle finance, credit cards, overdrafts, store cards, personal loans and micro-loans. We will then look at your monthly income and expenses and make a recommendation on the amount you can afford to pay each month.

We are married in community of property. Does my partner need to apply?
Yes. If you are married in community of property you are one estate and therefore both of you have to apply as a joint application.

What happens if I miss a monthly repayment?
If you miss a monthly repayment the credit providers will terminate the Debt Review and start legal proceedings which will include judgments and garnishee orders. If you are struggling to make your monthly repayment contact Debt Smart immediately so we can advise the credit providers of you situation and arrangements with them.

What to do if a Credit Provider phones you or harasses you in any way?
Advise them that you have applied for Debt Review, provide them with your reference number and tell them to contact Debt Smart.

What do I do if a credit provider tries to make a new arrangement directly with me?
Never make any promises or negotiate with a credit provider directly. Tell them to contact Debt Smart.


Frequently Asked Questions