Freedom Debt Counsellors

The National Credit Regulator has been working hard to protect consumers from over-indebtedness since the NCA was enacted in 2005.

This act aims to regulate what lenders can charge you for financial products, enforce rules about responsible lending practices, and provide alternative ways to deal with overwhelming debt.

Why Freedom Debt Counsellors do what they do

Debt review is a process devised to help you take control of your debt and pay it off without having to declare bankruptcy or surrender assets. And this is where Freedom Debt Counsellors step in.

Managing partner Morné Olivier and his dedicated debt counsellors work tirelessly to provide South Africans with affordable and safe alternatives to sequestration and bankruptcy. They are passionate about helping you conquer the mountain of overindebtedness and build a better relationship with credit in the future.

Find them online for your convenience

It’s challenging to find time to go in and have a face-to-face meeting to get the debt review process started. And it may not be a once-off meeting. Freedom Debt Counsellors decided to create an online platform to eliminate unnecessary extra steps and make their service available country-wide.

Though they have a physical office based in Johannesburg, they’ll handle your case entirely online and over the phone. Whether you’re from Barberton or Cape Town, one of their professional debt counsellors will be delighted to assist.

They’ll call you back within two business hours

Everyone has had the unfortunate experience of calling in and hearing an automated voice tell you to please be patient while you watch your airtime disappear. It’s frustrating and causes more stress when you’re already struggling to keep your head above water.

With Freedom Debt Counsellors, you’ll never have to worry about getting stuck holding for five hours while you wait for an available consultant. Simply fill out the call-back request and know that you’ll be speaking to a professional in no time.

Freedom Debt Counsellors offer financial planning solutions, debt review advice, and consumer debt and credit counselling.

Their service is affordable, comprehensive, and aimed at helping you rehabilitate your credit score.

The ultimate function of debt review

After chatting to a Freedom Debt counsellor, you’ll be sent an application form. They’ll assess your finances, inform your creditors that you’ve applied for debt review, and request balance certificates.

If an assessment shows you’re over-indebted, the counsellor will calculate a payment plan based on what you can afford. From this point on, your counsellor will negotiate directly with your creditors to get service fees dropped, lower interest rates, and extend loan terms.

Once a compromise has been reached, Freedom Debt Counsellor’s attorneys finalise the agreement with a court order. You’ll pay a monthly instalment, and they’ll pay your credit providers.

Get reduced bond and vehicle instalments

A unique feature of debt review is that the NCR empowers your debt counsellor to negotiate dramatically lowered rates on your behalf. You may be offered reductions of up to 20% on bond payments, 30% on vehicle finance, and 60% on unsecured loans.

The process is designed to find a balance that suits the lenders while leaving you with sufficient funds to cover your other expenses.

Avoid legal action

Once you’ve applied for debt review, there is a grace period of 60 days where no legal action can be brought against you while your debt counsellor considers your case and makes arrangements with your credit providers. The moment the court order is received, you and your assets will be safe from further legal action regarding your debt.

During the process, you'll be barred from taking out new loans. If you stick to the payment plan and follow through to the end, you’ll get a clearance certificate. Your credit score will improve dramatically, and your status will be updated with the credit bureaus.