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Debt counselling offered by FinCheck

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Author FinCheck. Screenshot of FinCheck website. [Accessed June 19, 2020]

About FinCheck

FinCheck is a South African financial and loan comparison website.

We partner with many big banks and small South African microlenders to supply the people with options that meet their needs.

Attractive deals

So many people are searching for a lender that’ll offer them a deal that has the most attractive repayment terms, interest rates and features.

Because online loan applications are at their highest, FinCheck has entered the space with a mission to make this process a lot easier and simpler.

All your financial decisions matter

Our unique platform allows us to help you build a better financial future by ensuring every decision counts.

Our system sources the most accurate and up-to-date financial products based on your financial profile and application. You can even find companies that offer debt counselling.

The only thing you have to do is fill in any of our custom-built forms to match you with the competitive options. This is presented in a user-friendly manner, allowing you to make an informed financial decision.

 

FinCheck Services

The first step in the debt counselling process is to fill out the product application form.

When you’ve chosen the product category that you want, fill in the form. It’s important that the information you give is accurate so that we’re able to match you with the financial products that suit your financial profile.

FinCheck will do the heavy lifting

Our systems have been built from the ground up. As soon as you’ve submitted your product application form, we get to work on matching your financial profile with the right banks or lenders.

Sit back and enjoy the FinCheck experience

Once your form is filled out and you’ve been matched up, you can then compare based on the options given to you. This is how easy it is to find and apply for the product that will best meet your needs.

Apply and see how FinCheck works for you

When your comparison is done - simply click apply. Either the bank or the lender will get in touch with you to offer you a personal loan, based on the information you supplied.

If for some reason your application is unsuccessful, we’ll match you with the second-best option and make sure you get the financial help you need.

FinCheck Product Details

  • Loan Type Debt counselling

Summary of Services

  • Apply within 2 minutes
  • Compare offers and apply online
  • Consolidate debt into one easy payment
  • Use our financial tools

How FinCheck helps with debt counselling

With so much on offer, FinCheck can also help with your debt and give you the necessary tools needed to make better financial choices.

A better financial future for you

FinCheck offers everyone that uses our site a free credit check. This allows you to check how banks and lenders see you and better understand why your loan application has been denied.

The MyFinCheck portal offers bank-level security, personalized offers and you’re given the option for us to help you manage your finances.

However, this is only the beginning of the awesome services we have available. We’re more than happy to know that people like you are partnering with us to create healthy financial landscapes in South Africa.

Difference between debt counselling and debt consolidation

Debt counselling, also known as debt review, is a debt relief measure created in terms of the National Credit Act to help consumers that are over-indebted.

This happens through budget advice, restructuring of debts and negotiations with creditors. It’s also a process that was created to protect consumers against credit providers.

It’s different from debt consolidation in that it doesn’t force you to take out a larger loan to repay debts. Instead, it takes into consideration every account and debt you have so that you can rebuild your credit health through a holistic strategy.

Is it possible to apply for debt counselling?

In order to qualify for debt counselling, you need to have a regular income, as this will be used to help reduce payments to your credit providers and create a payment plan. You and your spouse will both have to apply for debt review if you’re married in Community of Property.

8 Steps to debt counselling

  1. Locate a debt counsellor - Keep in mind that not every service offered to you will help you with your debt. It’s best to use debt counsellors that are registered with the National Credit Regulator. They’re trained, approved and verified by the NCR. To verify them, you can just run their registration certificate through the NCR website.
  2. What is needed from you - There’s documentation that will be needed from you to set up a repayment plan. Namely your payslips, ID, information of your required monthly repayments and an overview of your monthly expenses.
  3. If you’re over-indebted - Taking into account your current income, they’ll determine whether your debt repayments are unaffordable.
  4. Fee and application - If you’re indeed over-indebted and it’s confirmed by the debt counsellor, then you can officially apply for debt counselling. The debt counsellor will then have to explain the fees to you at this stage so that you clearly understand them.
  5. Calculating - The debt counsellor will take everything you’ve given them and will then calculate how much money you’ll need for living expenses and how much you can afford to repay every month.
  6. Being listed - The credit bureaus will be contacted and the debt counsellor will inform them that you’re under debt review. You’ll then be listed to make sure you’re protected. This is different to being blacklisted. When all your creditors are repaid, then your name will be removed from the list.
  7. Talking with creditors - All your credit providers will be contacted to make sure the information that you gave is correct and to double check the amounts. This is NOT blacklisting - this is being protected. Once everything is paid off, your name is removed. If the credit providers agree to the proposed plan given by the debt counsellor, a consent order will be obtained and the terms that were agreed to cannot be changed by any of the credit providers.
  8. Coming to an agreement - When everything has been agreed to, the debt counsellor will give you your repayment plan and then submit it to a Payment Distribution Agency. The agency will take from you a lump sum every month and split it up between credit providers, according to the repayment plan. It’s your obligation to keep up the monthly repayments until the whole amount is paid off. So remember to do your part and know that you’re still responsible for your debt, despite receiving help from the debt counsellor.

All you need to do is apply online and you’ll receive an answer within minutes. Fill in the necessary areas on the online form and submit it.

Customer Reviews & Testimonials

April 2020

FinCheck has many products on offer and makes it easier to get the help that is needed based on the information given.

George H
— Buffalo City —

November 2019

Fast, easy and straight forward help that is needed and what I received.

Samantha R
— KZN —

December 2019

Thank you so much for the information that you gather. It has helped me make better financial choices.

Xolani H
— Humansdorp —

FinCheck Contact Details

Contact Number

  • not available

E-Mail

  • not available

Website

Physical Address

Opening Hours

  • Monday Open – 24 hours
  • Tuesday Open – 24 hours
  • Wednesday Open – 24 hours
  • Thursday Open – 24 hours
  • Friday Open – 24 hours
  • Saturday Open – 24 hours
  • Sunday Open – 24 hours