11 Nov How to Choose a Registered Debt Counsellor: 5 Key Questions

Are you facing debt difficulties that are affecting your quality of life? Debt review can open doors to financial freedom, allowing you to start over financially. Debt review is a programme introduced by the National Credit Act (NCA) to help over-indebted South African consumers regain control of their finances. If you are struggling to keep up, there is light at the end of the tunnel, and Limdebt is here to assist.

When considering how to choose a registered debt counsellor, these 5 key questions can guide you. Before you apply for debt review, make sure your debt counsellor has given you answers that reassure you and demonstrate their professionalism.

1. Are you registered with the National Credit Regulator (NCR)?

This is easily the most important question you will ask your debt counsellor. It is required of every legitimate debt counsellor to be registered with the National Credit Regulator (NCR). Once registered, they should be issued an official registration number. A registered debt counsellor protects you from scams and ensures you receive fair, professional services. You can verify the debt counsellor’s registration by checking the official NCR website.

2. How much experience do you have?

Working with an experienced debt counsellor is best, as they have already worked on cases like yours. You can also ask them about their success rate, which will indicate how often they get the results their clients seek through debt review. Avoid blacklisting with professional help from a Limdebt debt counsellor. We have extensive expertise and have helped thousands of clients overcome their debt problems.

3. What fees do you charge?

If your debt counsellor is registered, then they are required to follow the official fee structure set out by the National Credit Regulator. This prevents debt counsellors from overcharging and taking advantage of consumers who are already struggling with their finances. Make sure your debt counsellor provides a transparent breakdown of the fees involved, before maximising your financial freedom through debt review.

4. How will you communicate with me?

Clear communication from your debt counsellor is key to success and also builds trust. A good debt counsellor should keep you in the loop at every stage of the process and be available when you need them, too. Ask your debt counsellor how they will communicate with you, and make sure they can respond to your enquiries timeously. You will benefit from a supportive and responsive debt counsellor.

5. What happens when I have completed Debt Review?

Your debt counsellor should empower you to improve your budget, debt habits, and spending after debt review. Some advice can include the best ways to use credit. They should also issue you a debt clearance certificate once you have completed debt review, and inform credit bureaus so that your credit report can be updated.

If you’re ready to take action and get your debt under control, CONTACT US today to get started.