What is Debt Review?

Debt review — also called debt counselling — is a legal process created by the National Credit Act to help over-indebted consumers regain control of their finances.

Why debt review exists

When monthly credit repayments exceed what a household can afford after reasonable living expenses, informal “debt help” promises often make things worse. Debt review provides a regulated alternative: assessment, creditor engagement, restructuring and legal protections administered through a registered debt counsellor.

What happens during debt review?

1. You complete a financial assessment covering income, expenses and credit agreements.
2. Your counsellor determines whether you are over-indebted.
3. If you proceed, credit providers are notified and the debt review process begins.
4. A restructuring proposal aims to create one affordable repayment.
5. You stay on the plan until obligations are settled and clearance can follow.

Debt review vs panic decisions

Debt review is not a magic wipe of your balances. It is a structured path to reduce monthly debt repayments, protect essential assets where possible, and move toward becoming debt free under South African law.

If you are researching debt review South Africa, start with a confidential assessment before signing any informal consolidation offer.