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National Debt Counsellors Review 2023

National Debt Counsellors

National Debt Counsellors is a debt management firm based in KwaZulu Natal, South Africa. The company is privately held and employs roughly 200 experts and debt counsellors.

Since its inception in 2014, the company has grown in popularity and strength. National Debt Counsellors has offices all around the country.

National Debt Counsellors offer a debt review option to South Africans who are unable to satisfy their debt commitments, with the goal of leaving them debt-free.

The company provides a free, no-obligation examination to establish whether or not debt counselling services are required.

The National Debt Counsellors is one of the largest debt counselling firms in South Africa, serving thousands of people each month. 

 National Debt Counsellors is one of South Africa’s most well-known debt counselling companies, with over 110 000 Facebook followers. It has a strong media presence and promotes its services through a variety of channels.

National Debt Counsellors provide debt review services to customers and it is one of the best in South Africa. Below, we go through the National Debt Counsellors’ debt review process below.

National Debt Counsellors Debt Review

Customers can rely on National Debt Counsellors for an in-depth debt evaluation that will result in debt relief. The debt assessment provided by National Debt Counsellors outlines seven steps that customers must take to become debt-free. The debt review procedure is straightforward, with detailed instructions on what to do before and after becoming debt-free.

Debt Review Process

The National Debt Counsellors debt review process comes in 7 stages. The steps of the Debt review process are discussed below. 

Step 1 Free Consultation and Assessment

The first thing that a potential customer will need is to make a request for a free consultation and free assessment. This request can be made on the National Debt Counsellors’ official website. On the official website, one can access the company’s WhatsApp number or you can click the WhatsApp link on the page that will redirect you to the company’s WhatsApp account. 

The request will then be completed on WhatsApp or through a phone call. A professional consultant will contact you and provide you with a free financial assessment. The financial assessment provided will be confidential. 

Step 2 Application Completion

The next step is to complete an application form. This is done by signing the National Debt Counsellors’ form 16 and sending it back to the company. The application will only start if the financial assessment states that you qualify for debt counselling. Moreover, this step will only commence only if you agree that you want to carry on with the debt review process. 

Step 3 Notification Of Creditors 

National Debt Counsellors will notify the creditors that you have applied for a debt review. As a customer, you will be protected in terms of the National Credit Act immediately after filing an application. 

Step 4 Negotiation With Creditors

Negotiations with creditors will start in step 4. National Debt Counsellors has forged partnerships with creditors across South Africa to ensure that their negotiation process goes smoothly and expeditiously. National Debt Counsellors will help restructure your repayments to an affordable amount. 

Step 5 Making Repayments

Now that a repayment plan is in place, the next step is to start making payments as per the repayment plan. Repayments will be done on a monthly basis to a payment distribution authority who will distribute funds to the credit providers. Repayments will include a single monthly instalment. 

Step 6 Making a Repayment Plan a court order

National Debt Counsellors will help you with legal representation at this stage. The company’s panel of attorneys will apply to the magistrate court on your behalf to make the restructured repayment plan a court order. 

Step 7 Issue Of A Clearance Certificate

When you successfully pay all the debt according to the restructured repayment plan, which might take months or years, a clearance certificate will be issued to you.  A clearance certificate will be issued to you and the credit bureaus to notify them that you have done repaying your debt. 

Benefits of Using the National Debt Counsellors Debt Review Process

Debt Review from the debt service provider will offer you some sense of relief financially. However, not only is financial independence gained by using National Debt Counsellors’ Debt review service, there are a couple of benefits that come with using the service.  These include:

  • National Debt Counsellors negotiate with creditors to ensure that you receive lower interest rates and extended repayment terms on the new repayment plan. 
  • Creditors are dealt with directly by the debt service provider , therefore, you will have peace of mind knowing that you won’t be harassed through phone calls and text messages. 
  • Assets are protected immediately when taking the debt review route. There won’t be any repossessions of your assets. 
  • the Debt service provider will reduce your repayments to an amount that you can afford. 
  • Your credit score will be positively impacted once you are finished with making repayments.
  • You get help from a company that has years of experience in the field. 

Competitive Advantages of National Debt Counsellors

  •  The company has a huge following on social media with high engagements on the company’s page on Twitter and Facebook.
  • The company hold a moderate rating on Google and HelloPeter with ratings of ⅘  and 3.6/5 respectively. 
  • National Debt Counsellors is registered with the National Credit Provider and is set to maintain a certain standard of service delivery.
  • The company has a high staff compliment and prioritise on quality service delivery.
  • The debt review process from National Debt Counsellors is straightforward.

Competitive Disadvantages of National Debt Counsellors

  • The company doesn’t have insurance products available. Customers may want to consolidate their debt along with their credit life insurance so that payments can be easy and straightforward.

Conclusion 

National Debt Counsellors is registered with the National Credit Regulator, therefore, it can be trusted that it will issue its services in line with the governing laws as per regulation. The company is also a member of the National Debt Counsellors’ Association and it is required to maintain certain standards of service.

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