If you are looking for the best debt counselling in Johannesburg, look no further. Debt review or Debt counseling is a service that is offered by companies and organizations to help individuals and businesses who are struggling with debt to manage their financial obligations and find solutions to their financial challenges. Debt counseling services in Johannesburg may include debt review, debt consolidation, and legal representation in cases of debt disputes.
Debt counselors in Johannesburg are regulated by the National Credit Regulator (NCR) and the Financial Sector Conduct Authority (FSCA). It is important to carefully research and consider all of your options before deciding to work with a debt counseling service, and to seek the advice of a financial professional if you are unsure what to do.
In this article, we have compiled a list of the 5 best debt review companies that you can consults for debt counselling services.
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Our list of Best Debt Counselling in Johannesburg
Debt Rescue
Debt Rescue is one of the largest debt counsellors in Johannesburg and also one of the most well-known. The company was founded in 2008 and has been helping over-indebted clients get out of debt for more than 15 years.
They are one of the most reputable debt review companies and have a good media footprint. They are often consulted for opinions on debt in the media and have frequently appeared in the national news as experts, which is a sign of how well-trusted the company is.
The company is located in Kempton Park and their address 85 Friedman St, Kempton Park, 1619
The have a review score of 4 on Google, with 242 reviews. This is a good score for the field of debt review and shows that they have a long and positive track record.
They are also a frequent nominee in the annual debt review awards in the category of large debt counselling firms who operate nationally.
To get in touch with them, click on the link below and fill in your details for them to call you back.
Debt Sage
Debt Sage is one of the most reliable debt management companies in South Africa. It is also a transparent debt review company to help clients to live better financial lives.
The company was started in 2009 as Debt Management (Pty) Ltd. which is trading as Debt Sage to counsel individuals struggling with servicing debt and in financial distress. They are registered with the National Credit Regulator (NCR) registration number: NCRDC1 295.
They always strive to help clients take back control of their finances to lead a quality life by applying for debt review. The company’s main purpose is to guide many over-indebted consumers in South Africa to start a wealthy life again.
They are located in Randburg and their address is 292 Surrey Ave, Ferndale, Johannesburg, 2194
They have a positive Google review score of 5 from 17 reviews.
Areas they cover and have clients include all major metropolitan cities such as Johannesburg, Pretoria, Cape Town, Bloemfontein, Port Elizabeth, Durban, and East London. They take applications for debt counselling across South Africa.
The company’s focus is on debt elimination, paying off your debt faster and easier in a manageable way. It also helps you out with debt consolidation, where you can transform your larger loan into smaller multiple loans.
The company also gives you protection against any legal action by creditors. Most surprisingly, when you are under debt review, it also improves your money habits, and if you talk about this company, then it is a fantastic one.
In addition, a debt management plan is also available so that you can pay off your debts at a rate you can afford.
Zero Debt
Zero debt is another debt counselling company in Johannesburg that is worth some consideration. It began operating in 2009 and has been in business for 14 years. They are a large company with more than 50 qualified debt advisors and a good track record.
They have two branches, one in Johannesburg, and the other in Cape Town.
They have a positive record of good Google reviews, with an average score of 5.0, from 122 reviews. As far as average review scores go, this is high and is evidence of the fact that they are one of the best debt debt review companies and boast a large number of happy customers who they have assisted.
The Johannesburg branch is located in Rosebank.
Sandton Debt Counselling
Sandton Debt Counselling is one of the well-known debt counselling companies in Johannesburg. As the name suggests, they are located in the Sandton area.
The company was registered in 2012 and is headed by Nadia Weerdt, who is also the co-founder and has been chosen as the representative for the Debt Counsellors Association of South Africa (DCASA) in the Western Cape region.. They have helped numerous clients through the debt review process and have a positive track record with reviews across platforms like HelloPeter, Facebook and Google.
They company was nominated in the top 10 at the national debt review awards in 2021 and 2022.
They have a score of 5 on HelloPeter from 230 reviews, and an average score of 5 on Google from 9 reviews.
Their office is located at. Block 5 Woodview Office Park, 1 Humber St, Sandton, 2128
Freedom Debt Counsellors
Freedom Debt Counsellors are a dedicated team of debt counsellors that care about assisting you in working towards your financial freedom.
If you are a looking for a debt counselling agency or company that takes a professional approach to helping you alleviate your stress and can proactively help you get rid of your debt, then you can consider them. They offer a range of practical debt solutions that work, from consumer debt and credit counselling services to financial planning solutions and debt review advice. They are based in Roodepoort and offer our services throughout South Africa.
They have 152 reviews on HelloPeter with an average score of 4.7 which is pretty good. Their score in Google Reviews is 4 from 11 reviews.
Their address is Corner of Rugby Street & 9th Ave, Weltevredenpark, Roodepoort
What is the difference between Debt Review and Debt Counselling
Debt counseling and debt review are two different financial services that are offered to individuals and businesses who are struggling with debt.
Debt counseling is a broad term that refers to services that are designed to help individuals and businesses manage their debts and find solutions to their financial challenges. This may include budgeting advice, negotiating with creditors to change the terms of debt, and providing support and guidance to help individuals and businesses become debt-free.
Debt review, on the other hand, is a specific process that is regulated by the National Credit Act in South Africa. It is designed to help individuals and businesses who are struggling to make their debt payments to repay their debts in a more manageable way. This might involve negotiating with creditors to change the terms of debt, such as extending the repayment period or reducing the interest rate. Debt review is typically a lengthy process that can take several years to complete.
It is important to carefully research and consider all of your options before deciding which financial service is right for you, and to seek the advice of a financial professional if you are unsure what to do.
How do you know if you need debt counselling?
You may need debt counseling if you are struggling to make your debt payments and are finding it difficult to manage your financial obligations. Some signs that you may benefit from debt counseling include:
- You are consistently unable to pay your bills on time.
- You are using credit cards or taking out loans to pay for everyday expenses.
- You are receiving calls or letters from creditors demanding payment.
- You are experiencing financial stress or worry about your debts.
If you are experiencing any of these signs or are unsure if you need debt counseling, it may be helpful to speak with a financial professional or seek the advice of a trusted friend or family member. They can help you assess your financial situation and determine if debt counseling is the right choice for you.
It is important to thoroughly research any company you are considering working with to ensure that they are reputable and can provide the services you need. It may be helpful to ask for references from previous clients, and to check with the relevant regulatory bodies to ensure that the company is properly licensed and accredited. It is also a good idea to shop around and get quotes from multiple companies to compare the services and costs offered.
What are the benefits of Debt Review
Debt review can have several benefits for individuals and businesses who are struggling with debt:
- More manageable payments: Debt review can involve negotiating with creditors to change the terms of your debt, such as extending the repayment period or reducing the interest rate. This can make your debt payments more manageable and help you avoid defaulting on your loans.
- Protection from creditor action: If you are enrolled in a debt review program, your creditors are legally required to stop any legal action they may be considering, such as garnishing your wages or repossessing your property.
- Professional guidance: Debt review companies often provide professional guidance and support to help you manage your debts and make a plan to become debt-free.
- Potential to reduce or eliminate debt: In some cases, debt review can result in a reduction or forgiveness of a portion of your debts, which can make it easier to become debt-free.
FAQs
Here are some frequently asked questions about debt review:
How does debt review work?
Debt review is a process that is regulated by the National Credit Act in South Africa. It involves assessing an individual’s or business’s debts and developing a plan to repay them in a more manageable way. This may involve negotiating with creditors to change the terms of the debt, such as extending the repayment period or reducing the interest rate.
Who is eligible for debt review?
Any individual or business that is struggling to make their debt payments and is financially distressed may be eligible for debt review.
How long does debt review take?
Debt review is typically a lengthy process that can take several years to complete. The length of the process will depend on the specific circumstances of the individual or business and the negotiations with their creditors.
Will my credit score be affected by debt review?
Enrolling in a debt review program can negatively affect your credit score, as it is a sign that you are struggling to manage your debts. This can make it harder to obtain credit in the future.
Are there any costs associated with debt review?
There may be fees for the services provided by debt review companies. It is important to carefully consider the costs and weigh them against the potential benefits of the program.