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Debt Sage Review 2021


Debt Sage is a debt management company that helps South Africans with their debt issues by providing:

  • Debt Counselling services, 
  • Debt Consolidation services, 
  • Help to combat reckless spending, 
  • Debt solutions for employees, 
  • Debt settlement services, 
  • Checks on debt health, and
  • Debt restructuring services

The company aims to help employees and individuals at large to become debt-free or find a debt solution that resonates with their income. 

Debt Sage has a presence across South Africa. The debt services provider uses social media platforms such as Facebook and Twitter to reach customers. The company offers an easy way to communicate with customers. Clients in need of debt management services can request a callback or engage with an agent over the company’s live chat system. 

What is Debt Sage? 

Debt Sage is a South African registered debt management company that is certified by the National Credit Regulator with registration number NCRDC1295. Debt Sage was founded in 2009 in Cape Town, Western Cape. Since its formation, the company has managed to offer services to residents in all major metros in South Africa. 

Debt Sage has forged relations with specialist attorneys, creditors, and payment distribution agencies to provide fast and affordable services. These relationships are cemented by the company’s 17 years of experience in the debt management industry. 

Who should use Debt Sage Debt Solutions

The Debt Sage solutions are available to all South Africans in need of debt management services.

These include:

  • Those that are 2 or 3 months in arrears on one or more of their credit accounts. 
  • If one feels that they are over-indebted and are struggling to provide for their family because their installments are high. 
  • If one is struggling with harrasment from debt collectors or creditors’ endless calls and mailing demanding payment. 
  • Those that have income but their income is not enough to pay off their monthly debt installments.  
  • If credit providers have issued a section 129 directing that one must seek the service of a debt counsellor. 

Debt Counselling 

The Debt Sage plan is available to those that are over-indebted. One needs to first contact the debt service providers to enlist their sevices. This can be done via there website where all contact details are made available. A debt counsellor will then help the customer by conducting a free debt assessment to check whether they qualify for debt counselling. 

If you qualify, Debt Sage will put you under debt review and notify all your creditors that you are under debt review. This step will happen only if the debt assessment states that one needs to go for debt counselling. Debt Sage wiil then negotiate on your behalf with the credit providers for a better repayment amount by either increasing your payment duration or reduction of interest rate. A payment plan will then be devised stating a new repayment plan and terms. 

Debt Sage will make the repayment plan a court order until your credit record is clean. The debt counselling may exist for 3 – 5 years, however, you can pay the debt even before the agreed time. A clearance certificate will be issued to you when you successfully clear your debt. Another copy will be sent to the credit bureaus so that the your credit information gets updated. 

Debt Consolidation 

Debt Sage’s debt consolidation solution is for those that want to put all their debts into one affordable loan.

However, those who tend to benefit more from this solution are those with high credit scores and afford to repay their debt. The solution has its own limitations, therefore, if you are over-indebted you should not go for a debt consolidation solution but rather apply for debt counselling. 

Debt Sage debt solution helps customers consolidate their debt into one bigger loan. The company negotiates with creditors to reduce interest rates on loans so that lower interest rates can be paid. Customer credit history matters when it comes to reducing interest rates. A higher credit score will help decrease interest on loans. 

Consolidation loans that are available in the market include the secured loan and the unsecured loan. A secured loan is a loan that will have a customer’s asset(s) attached to the loan as collateral. The loan offers low-interest rates. Unsecured loans do not require any collateral and have high interest rates attached to them. 

Debt Solutions For Employees 

Debt Sage helps employers bring debt solutions to the workplace. This is to help employees be productive while Debt Sage deals with their debt issues. Employers can get the debt solutions into the workplace by making it a company policy for employees to get debt solutions as part of their benefits. 

Employees can access Debt Sage’s debt solutions based on their needs. The services are offered to the employers aswell since they are not immune to debt.

Conclusion 

Debt Sage offers many debt solutions that South Africans can benefit from both in private and corporate. With the company’s experience, there is more to gain than to lose. The company has vast knowledge and expert experience when it comes to debt issues. Furthermore, the company’s founder is still active in the management of the company to ensure that the quality of service is not compromised.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted at [email protected]

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