In the heart of South Africa, countless families are grappling with the relentless challenge of managing their finances, often with single or joint incomes. When the end of each month approaches, the daunting reality sets in – bills must be paid, financial commitments to support your children must be met. The weight of medical bills looms large, and with the new year drawing near, the added pressure of preparing your children for the 2024 school year can be overwhelming.

But the greatest burden of all is gazing into the eyes of your loved ones, those we hold dear, and knowing that, financially, we can’t make it. It’s the heart-wrenching realization that we won’t be able to afford that shiny bicycle for our son or the perfect gift for our daughter this Christmas. The days leading up to the festive season becomes a source of dread, as the looming financial strain threatens to overshadow what should be a time of joy and togetherness.

And it’s not just about the material things. It’s about the intangible moments, the simple joys that remain elusive. Making plans with friends over Christmas? For many, it’s a luxury they can’t afford, as the relentless specter of financial woes stands in the way of embracing life, laughter, and love during this special season.

But in the midst of these struggles, remember, you’re not alone. There is hope, support, and a path to a brighter tomorrow. Let’s come together, reach out to one another, and find the strength to face the challenges. You deserve to experience the joy of the season, the warmth of family, and the bond of friendship, no matter the circumstances. You are not defined by your financial difficulties. You are defined by your resilience, your love, and your unwavering spirit.

Together, let’s navigate these stormy waters and find a way to bring light to our lives, to our families, and to our communities. There is help and hope for a brighter future. You are not alone, and you are not forgotten.

What plans do you have to cover all your monthly expenses when your income is not enough?

A large percentage of consumers have not received a salary increase over the past 4 years. The negative effect of that is their income remains the same while the cost of living, statutory salary deductions going up every year, and the interest rate increases on debt repayment installments affecting everyone.

After talking to a few people, I found that:

Some clients do not know enough about debt counseling.

Some shared that they do not have enough information about the process and would like to wait a while and first see if they can get help from their personal banker for a consolidation loan.

The last group was afraid of losing their home and car once they applied for the program and did not want to lose their home or vehicle.

What is Debt Counseling?

Annienne Nel, the Founder of Consumer Debt Support, will share more about what the process is all about. When a consumer’s life suddenly changes due to circumstances outside their control, and they can no longer afford to cover their family living expenses and afford the normal contractual debt repayments, it would be safe to connect with Consumer Debt Support to do a debt review assessment.

Debt Review Assessment

Debt review is a discrete process where a consumer struggling to pay monthly debt can apply for a debt reduction and pay less on their debt. It is private and confidential, and nobody will know the debt counselor is reviewing your financial situation.

A registered debt counselor is trained to assist the consumer in reworking their budget that includes living expenses and determining by how much the consumer can pay less on their debt. These assessments are based on information from the credit bureau and the consumer’s statements, if available, to assess the total outstanding debt and the monthly installments linked to each account.

The term of the loan, current interest rates, and installments are calculated to determine by how many months the debt can be extended. By extending the terms to 60 months, payments are reduced, and these two components reduce the contractual interest rates, saving you thousands of rands you would have had to pay to creditors.

Payment Plan Acceptance

Debt Review is a very exclusive program; the banks have come to an agreement with the debt counselors to accept certain terms to help the consumer. The debt counselors have a DCRS payment plan that all parties have agreed to accept in the Task Team agreement.

DCRS in Debt Review

DCRS stands for a set of standard rules agreed upon by the industry that provides voluntary concessions by exclusion of certain charges, adjusting the contractual fees, interest rates, and repayment terms on credit agreements that are restructured under debt counseling.

Once there is acceptance from your creditors, the application is referred to court for a restructuring consent order.

You won’t lose your home; your car is conditional your bank has not issued summons on the vehicle to start the repossession process.

Duration of Reduced Payments on Home Loan

The debt counseling process onset is to support you to settle your debt over the shortest period of time, that is affordable and suits your budget, help you restart your life and putting your plans into action to live and rebuild your career. Reaching your goals, paying your debt in the program with the end in mind. The greatest reward is your clearance certificate, and where you have a bond, the bank is happy to welcome you back to the credit market. It takes you 60 months to build a sound business, a marriage takes five years to grow and build trust, It takes your teenagers 5 years to matriculate from entering High School, so can you give yourself five years to rebuild your financial freedom?

Benefits of Debt Review

In summary, the debt review process offers substantial benefits, enabling consumers to save money and pay off debt over a much shorter period of time.


Anything you decide to start, your mindset must be right and you must be committed to change the direction your finances are heading. Debt Center, the home of Consumer Debt Support, is your home too where you can start your journey to becoming debt-free. You can start living again, embrace life, focus on your career or new business, and build a better tomorrow.

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