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National Debt Advisors Review


National Debt Advisors is one of the largest debt counselling and debt consolidation companies in South Africa with estimated annual revenue of over R350 million as of 2019. National Debt Advisors is registered with the National Credit Regulator (NCR) and is a member of the National Debt Counsellors Association (NDCA)

Not all companies thrive in this industry, National Debt Advisors along with a few have managed to grab a large chunk of the market. Since the introduction of Debt Counselling by the National Credit Act of 2007, those that opened doors during the fall of the 2000s or the start of the 2010s have been prominent in the Debt Counselling sub-industry. 

As a member of NDCA, National Debt Advisors must:

  • Be registered with the National Credit Regulator, 
  • Offer affordable, reasonable legal fees for clients, 
  • Make use of the National Credit Regulator approved debt counselling rules system which facilitates interest rate reduction, 
  • Use a registered payment distribution agency to ensure clients funds are protected, 
  • Provide monthly statements and continuous client support, and
  • Adhere to the moral standards that the NDCA expects. 

The National Debt Advisors has certain standards it upholds. These include putting their customers first, and offering and providing lawful services. These are the company’s top priorities. 

National Debt Advisors Summary 

National Debt Advisors is a debt management company that is registered with the National Credit Regulator with license number NCRDC2351. The company was formed in 2012 and has an estimated revenue of over R350,000,000.00. As of 2020, the company boasts a well-trained staff of nearly 400 people. 

National Debt Advisors has a plethora of services that are consistent with the company’s objectives of helping South Africans to manage debt. Products that are offered by National Debt Advisors include:

  • Debt Counselling, 
  • Debt Consolidation, 
  • Debt Management, 
  • Debt Rescue, and 
  • Debt mediation 

National Debt Advisors Solutions

Solutions offered by National Debt Advisors are to help individuals with their debt and lead them on their route of being debt-free. We discuss solutions issued by the company below. 

Debt Counselling 

National Debt Advisors’ debt counselling product is created to help South Africans that are over-indebted repay their debt. The debt counselling division comprises 300 support staff with 30 debt counsellors in place. The debt counselling division is the company’s most lucrative business function and has led the company to be voted as the best debt counselling company in South Africa for 2020.

The services under the product include:

  • A free debt assessment before making an application. 
  • Clients get a further debt assessment after applying, 
  • An investigation is held on each client’s lending on how reckless they were before making an application, 
  • A debt payment restructuring plan is devised and put in place, 
  • Getting access to the best attorneys, 
  • A new affordable monthly budget, 
  • protection against credit providers, 
  • Protection of  your assets against repossession, and
  • Aftercare until debt-free on a monthly basis. 

Debt Consolidation 

National Debt Advisors Debt consolidation solution is there to help clients combine all their debt and take all their monthly repayments and replace them with one monthly instalment. NDA will help you either to apply for a consolidation loan or choose to be placed under debt review. 

A consolidation loan is a loan taken against all the amounts that you owe credit providers. The loan will allow clients to pay one monthly instalment instead of making payments to numerous lenders. Consolidation loans are hard to get as lenders require a clear credit record with a good credit score and will require an initiation fee. 

Using the NDA debt consolidation allows clients to use the NCR regulated process of debt review. This will help in:

  • Getting an extended repayment term, 
  • Lowering interest rates on the new loans, 
  • assets being protected from repossession. 

Debt Management 

Debt management solution is for those that are over-indebted but have not been defaulting on their debt repayment. The National Debt Advisors management plan helps customers cope with their debt under this solution. The solution comes with 4 steps that assist customers to have an affordable lifestyle and to cope with debt. 

The Debt Management plan includes:

  • Budget Planning – to check if you are over-indebted or not. 
  • Advice – based on your indebtedness, debt counsellors will give advice on how to structure your new debt plan, 
  • Debt Management Plan – NDA will draw a plan that will help lower your monthly installments, and 
  • Debt Review placement – will allow you to have a great grasp of your debt and allow you to clean your credit report. 

Debt Rescue 

This product from National Debt Advisors helps customers from being harassed and secure their possessions. The product further:

  • Helps lower interest rates on loans, 
  • Helps extend repayment terms on loans, and
  • Negotiate for customers to pay lower monthly installments than before. This is done through debt consolidation or the negotiation of interest rates. 

Conclusion 

National Debt Advisors provides some of the best debt solutions in South Africa. The company has a reputation for providing great services and products that clients are most happy with. The company offers near-perfect customer care service, enquiries are attended to in seconds making the turnaround time very fast. 

For debt consolidation, management and counselling, National Debt Advisors is a company to consider. It has been dubbed the best debt counselling company of 2020 and surely it means that the company is doing better than its competitors of late.

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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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