Categories: DebtNewsReviews

National Debt Counsellors Review 2021

Published by
Lethabo Ntsoane

The National Debt Counsellors is one of the biggest debt counselling companies in South Africa serving thousands of South Africans on a monthly basis. The company is headquartered in KwaZulu Natal, Durban, South Africa and has a staff complement of nearly 200.  

National Debt Counsellors is one of the most recognizable debt counselling brands in South Africa with just over 108 000 followers on Facebook. Its media presence is huge and the company advertises its services on different media platforms. 

National Debt Counsellors Summary

National Debt Counsellors is a debt review company that is headquartered in KwaZulu Natal, South Africa. The company is privately held and has a staff of consultants and debt counsellors of around 200. The company was established in 2014 and has been growing popular and stronger since. National Debt Counsellors has a presence across South Africa. 

National Debt Counsellors help South Africans that are unable to meet their debt obligations with a debt review solution that aims at leaving customers debt-free. The company offers a no-obligation free assessment to determine whether or not one needs debt counselling services. 

National Debt Counsellors Debt Review

National Debt Counsellors offer customers a solid debt reviewing process that is designed to leave clients debt-free. Debt review from National Debt Counsellors has 7 steps that clients need to adhere to to be debt-free. The debt review process is straightforward and has detailed steps on what happens before and until one gets 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 3.5/5 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.

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 lethabo@rateweb.co.za

Published by
Lethabo Ntsoane