Guiding consumers since 2009

Debt Consolidation

Having too much debt can be a burden. Many South Africans struggle with managing their debt and this often has stressful and lasting effects. For this reason, many have chosen to opt for debt consolidation as it’s safe and lightens the load almost immediately.

By filling out the form below, you will notify a qualified financial adviser of your interest in debt consolidation and they will get in touch with you to discuss this further.


Lift the burden of your debt by filling in the following form

Understanding debt consolidation

Debt consolidation is a debt solution that was instituted by the National Credit Regulator and is stipulated and protected in the National Credit Act. This is available to the overindebted and combines all your monthly debt payments while negotiating with all your creditors for reduced payment amounts.

This solution focusses largely on rehabilitating your debt and allowing you to repay it in a manageable and financially safe manner. Once declared overindebted and signed up to the debt consolidation process the following will happen:

You will be protected from having to communicate with your creditors because your assigned debt counsellor will be tasked to do so. You will also be protected from any defaults, judgements, and other legal action. This will hold true as long as you uphold your payment arrangements.

How do I know if I need debt consolidation?

Many South Africans struggle in silence with their debt, unaware of the fact that they may be a candidate for debt consolidation. Here are a few common indicators that this may be a solution for you:

  • You cannot keep track of which credit providers you are paying every month and how much.
  • You are unable to manage your monthly expenditure.
  • You find yourself taking out loans to survive the month.
  • The majority of your income is allocated to your debt.
  • You may have a judgement or default against your name.

Before you get started

It’s important to understand what you are signing up for and how it may affect your finances going forward.  

Debt consolidation can help you make a saving on everything from service fees, administration charges, debit order charges, and even insurance costs. It also helps to repair your credit score, which may in all likelihood have been damaged due to mismanaging your debt.

This process also may mean that you will be unable to access any further credit while you are undergoing the debt consolidation process. This will allow you to make headway with your existing debt without adding any additional financial strain.

To further understand debt consolidation, click here.

Struggling with your debt can have far-reaching effects on your wellbeing. For many South Africans, this financial strain is their reality, but it doesn’t have to be yours. For trusted, professional help in managing your debt from trained debt advisors who care, take the first step today.


The guide below helps to explain debt consolidation. If you still have questions after reading the guide, ask our debt expert or you can also visit our FAQ page.


Related Articles

Featured What scares you about your finances?

Finances can be anxiety-inducing. If money matters keep you up at night or make your brow sweat, know that you are not alone. JustMoney spoke to some of our readers about their financial fears. The information below may help to ease these anxieties.

Read more

Do interest rates really matter when settling debt?

As the interest rate fluctuates, you may have wondered what impact this has on your outstanding debt. How much more or how much less will you pay as a result? We look at how interest rates impact different kinds of debt, and why interest rates fluctuate in the first place.

Read more

Can your debt be cancelled?

It sometimes happens that you struggle so much to pay your debt that you think of asking your creditor to write it off. But debt doesn’t just get written off. There are conditions that must be met and procedures that must be followed before the creditor cancels your debt.


Read more

Is it time to consolidate your debt?

If you have multiple credit agreements across various credit providers or you can’t keep up with your monthly instalments, consolidating your debt commitments into one could assist you.

Read more