Freedom Debt Counsellors

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Leveraging Freedom Debt Counsellor’s expertise to get out of debt

Freedom Debt Counsellors’ extensive portfolio of workable solutions varies from consumer debt and credit counselling to review advice and tailor-made financial planning solutions. Although headquartered in Johannesburg, anyone in South Africa can apply for counselling.

The application process may bewilder you at first, due to the amount of administration and legal processes involved. This is where the company’s counsellors are experts in giving you peace of mind, as they take the initial apprehension out of the equation by keeping you informed throughout. You’ll also be updated on progress every step of the way.

Step-by-step debt review application

You’ve applied for and completed the debt counselling form (form 16). Upon acceptance, the following will now happen:

• Your designated counsellor will inform the credit bureau and all your creditors of your intention of undergoing counselling (form 17.1).
• Your creditors will be asked to supply a Certificate of Balance (COB) for your outstanding accounts.
• Based on this information, your debt counsellor will determine if your monthly expenses indeed exceed your income. If so, you qualify for review. An estimate of the amount that’ll be available to your creditors is then done. This is called an affordability calculation.
• Your counsellor will now create a payment plan and submit it to your creditors for approval (form 17.2). A provisional affordable instalment will immediately apply. It’s important to note that your creditors aren’t allowed to take legal action against you during the first 60 working days of the process.
• Your creditors will then have the opportunity to assess the interim proposal. Upon acceptance, they’ll then get a final proposal which they may either accept or reject. When an acceptable agreement is reached, Freedom Debt Counsellor’s attorneys will submit the final restructuring proposal in court on your behalf. Your presence is not required, as your counsellor acts as the applicant in the matter.
• Once you’ve gone through the whole process successfully and repaid all your debt, you’ll receive a clearance certificate as proof of your new clean credit record.

Why debt counselling is the perfect option to lighten your financial load

• There aren’t any entry costs.
• The initial interest rate on your debts will decrease gradually over the counselling term.
• You'll only pay what you can afford in one easy monthly instalment.
• You can dramatically reduce your monthly instalments on bonds, vehicle finance and unsecured credit.
• You can't lose any of your assets, as you are protected under the National Credit Act.
• You don’t need to communicate with your creditors as it’s done by the company.
• You can once again enjoy financial freedom when the process has been completed. You're guaranteed total confidentiality at all times.
• Debt counselling simply makes more sense than opting for a debt consolidation loan.

Why debt counselling may be better than debt consolidation

• Debt counselling protects you from your creditors as they can't lay any claim on your assets. You also don’t need a good credit score to qualify.
• A consolidation loan, however, may put you in even greater financial difficulty, because these loans have very high-interest rates that increase over the term period.
• This means you’ll pay much more over time while not enjoying any protection against legal action by your creditors.
• The debt counselling process covers all your living expenses and prevents you from making more debt in future. It also enables you to regain your clean credit record. Getting out of your debt is, after all, your primary goal.

If you’re serious about regaining control over your money and want to stay debt free in the long term, debt counselling will put the reins firmly back in your hands.

Freedom Debt Counsellors is a trusted & reliable provider of debt review

In our review, Freedom Debt Counsellors adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

✅ Freedom Debt Counsellors is a registered credit provider in South Africa: NCRDC2463