Debt Wise

There are few things more anxiety-inducing than realising you’re up to your eyeballs in debt and have no way of escaping it on your own.

At this point, administration, sequestration, and bankruptcy are options, but they aren’t exactly pleasant or uncomplicated ones.

Why turn to debt counselling

Debt review was brought into play by the National Credit Regulator to give overindebted South Africans a way to cope with their debt. This can help you avoid having your assets seized and being blacklisted for years.

Debt counsellors are given the task of reviewing your financial situation and finding the best way for you to pay off your debt without damaging your credit profile.

Debtwise Group pairs you with a counsellor whose goal is to treat you with the understanding and respect you deserve. The company is motivated by a passion for helping you become debt free and teaching you the skills you need to improve how you manage your debt in future.

The driving force behind this company

At the heart of the Debtwise Group, you’ll find Director Leana van Wyk. While working for a debt collection agency, she found her talent for helping people escape the sticky web of overindebtedness.

She received her NCR accreditation in 2008 and has dedicated her career to improving the quality of life of each individual she counsels.

Debtwise Group comprises a compassionate team of experts who’ll guide you through the process step-by-step. They’re ready to listen to you and address all your concerns throughout the process. Best of all, you’ll be in the hands of people eager to make a difference in your life.

Get your obligation-free assessment

Debtwise Group must assess your financial situation to see if you’re eligible for debt review. If they find that your monthly expenses overshadow your income, they’ll let you know that you qualify as overindebted and that you can start the debt review process.

This service is available nationwide through their secure online platform where you can get a free assessment. Their site provides everything from a call-back request to the application forms you’ll need to complete. With the Debtwise Group, you’re only five simple steps away from financial relief.

Debt counselling was introduced in 2006 for two purposes—the first is to ensure that financial service providers receive outstanding payments.

The second is to protect you from legal action and give you a viable way to repay debt while maintaining your standard of living.

What Debtwise Group can do for you

After an assessment, they’ll draw up a payment plan. Your day-to-day cost of living and financial obligations will determine what you can afford as a monthly instalment. They’ll negotiate lower interest rates, the cancellation of service fees, and even the extension of loan terms with your credit providers.

As a multiple award-winning firm, Debtwise Group draws on their sterling reputation to provide you with a service that’ll have you debt-free within 5 years. While under debt review, you can’t be blacklisted, your assets remain untouched, and even existing legal action can be dealt with.

Debts covered by this process

Debt counselling takes care of all unsecured loans, store credit, clothing accounts, and pawn shop transactions. Secured loans from banks are also included. This means your credit cards, overdrafts, vehicle finance, and home loans can be adjusted to suit your new payment plan.

Once Debtwise Group takes you on, they’ll notify your creditors and begin negotiations. You won't be eligible for debt review if you’ve already been sequestered or have declared bankruptcy. So researching your options the moment you realise your finances have gotten out of hand may save you from making costly mistakes.

The best alternative to debt review

Debtwise Group can also help you apply for voluntary sequestration if you don't qualify for debt counselling.

They have a legal team who’ll guide you through the process and help you make the best of the situation. This judgement will be visible on your credit profile until you’ve resolved the debt at the end of the agreed period.

This process involves selling off your assets and securities to cover a legal fee of R10,000 and the outstanding debt.

You can opt to pay creditors off in monthly instalments over a maximum of 18 months. Applying for this voluntarily gives you more room to negotiate than you would have if they placed you under compulsory sequestration.