Are you drowning in debt?

If your answer is “yes” to two or more of the questions below – Debt Smart will be able to help you.

Am I in debt?
Am I behind in my account repayments?
Am I too scared to answer my phone in fear of my creditors calling for money?
Do I need protection from legal action by my creditors?
17.6 million South Africans are indebted, of which 7.5 million have bad debt.

Debt counselling services were made available to over-indebted consumers from the 1st of June 2007 through the National Credit Act No. 34 of 2005.

Debt counseling aims to assist over-indebted people so that they can afford their monthly living expenses as well as pay their creditors.

Debt counselling will protect over indebted consumers from legal action, and protect thier homes and cars from being repossessed.

Debt Smart will investigate to determine whether the credit was granted recklessly.

Debtsmart Head Office is situated in Port Elizabeth, with franchise offices in East London, Ruimsig and Pretoria.

This does not mean though that we cannot assist you anywhere in South Africa!

We will Contact you.


Let us deal with all your stress and let you get back to living your life.

Why Choose us to help you?

At Debt Smart we help you deal with your debt problems so that you and your family can live the life that you deserve!
By developing better debt management skills and changing your spending habits, not only can you get out of debt, but you can avoid finding yourself back in the same situation again.
We will restructure all your debts into one affordable monthly payment by placing you under debt review, and negotiating more affordable repayments with your creditors.

We can help you deal with the following types of personal debts:

Vehicle Finance

Personal Loan Accounts

Overdraft Accounts

Home Loans

Retail Store Accounts

Hire Purchase Accounts

Credit Cards

NB! Excludes the following

Service agreements such as water and lights, levies, etc as well as any accounts in which Judgment or Legal Action has already been instituted.

Let us handle your creditors and give you the freedom to experience life.

What is Debt Counselling

The sections of the National Credit Act No. 34 of 2005 relevant to over-indebtedness and restructuring of debt came into effect on 1 June 2007. The Act makes provision for the training and registration of Debt Counsellors to assist over-indebted consumers, who are unable to honour their credit agreements in a timely manner.

Debt Counselling makes provision to assist over-indebted consumers by restructuring their debts so that they can afford to meet their monthly living expenses.

Creditors are likely to take legal action when debtor’s accounts are in arrears, which can increase the financial burden by adding collection costs and penalty interest to any arrear amounts. Debt Counsellors protect the debtor from legal action by arranging a more affordable and acceptable repayment with each of the debtor’s creditors.

A consumer may approach a Debt Counsellor to carry out a confidential financial review of their financial affairs and officially determine whether or not they are over-indebted. This is known as a DEBT REVIEW.

If it is found that the consumer is indeed over-indebted, the Debt Counsellor will proceed with DEBT RESTRUCTURING by negotiating better repayments, interest rates and terms with the credit providers. Once consent is reached, the consumer is presented with one affordable monthly payment which is distributed to the creditors via an authorized Payment Distribution Agency (PDA).

Debt Counselling provides consumers with the peace of mind knowing that their financial affairs are now handled by an NCR-Qualified Professional.

Sure you have questions, lets answer some of them now.

Frequently asked questions

and the answers.

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.

The Restructure Fee can be deducted from your funds available for distribution.

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.

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.

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.

No, you must stop using all credit facilities immediately. You may also not apply for any new credit agreements while under Debt Review.

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.

The Debt Counsellor will negotiate a new proposal, if necessary, refer the matter to the Magistrate’s Court for a decision.

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.

Yes, all credit bureaus will be notified that you have applied and will be updated frequently on your status in the process.

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.

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.

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.

Advise them that you have applied for Debt Review, provide them with your reference number and tell them to contact Debt Smart.

Never make any promises or negotiate with a credit provider directly. Tell them to contact Debt Smart.

Contact Us
041 364 0978

97 Third Avenue, Newton Park, Port Elizabeth, 6045

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