Debt Counselling

Are you over-indebted and struggling to meet all or part of your financial commitments? 5IR Debt Counselling is a registered debt counselling company that has helped many consumers get out over-indebtedness. Debt counselling is an easy, dignified and legal way to help consumers become debt-free. 5IR debt management will help you with the following once we’ve taken you on as a client.
We will negotiate lower interest rates (with all your creditors) on all your existing debts
Approach the Magistrate court/Tribunal to register the debt counselling agreement
You pay ONE instalment for all your debts based on your AFFORDABILITY

WHAT ARE THE BENEFITS?

Once under Debt Counselling, all creditors are legally forced to renegotiate payment terms and instalments, which is something you can’t do in your individual capacity.
Creditors will no longer be able to take legal action against you
No collection calls and letters of demand
All your assets are protected and may never be attached
Better quality of life

HOW DO WE WORK?

FIRST
Contact us for a free consultation to determine whether or not you qualify for DEBT COUNSELLING
SECOND
If yes, we apply to the tribunal and register you for debt counselling after all the relevant documentation has been signed
THIRD
We contact all your creditors, informing them of this outcome and new payment arrangements are entered into.
FOURTH
We load your details onto Finwize debt relief solution to easily manage and track your debt

Should you so choose, we work with DC Partner (which is a registered Payment Distribution Agent) that ensures that all payments are distributed to all your creditors. THIS IS OPTIONAL.

REMEMBER!!! YOU PAY WHAT YOU CAN AFFORD!!!

FEES

All Debt counselling fees are prescribed by the National Credit Regulator (www.ncr.org.za) and may vary per consumer. This will all be explained during consultation.

Debt Counselling Explained

Debt counselling, also known as debt remedy, is the best way to protect your assets, unlock cash, and prepare you for a financially healthy life after debt. Debt counselling is a formal debt solution introduced by South Africa’s National Credit Act of 2007.
5IR Debt counsellors are qualified experts who all the debt dynamics
We understand that being indebted can be stressful and frightening. 5IR Debt counsellors guide you through debt review (to understand your situation), debt management (to draw up a solid financial plan), and debt remedy (to negotiate a structured debt repayment plan with your credit provider/s.
5IR negotiates with your creditors to extend your terms and reduce your interest rates, making it legimately possible for you to pay a single and substantially low amount on your existing debt.
We have mandates to do this with South African credit providers, and they almost always (90% of the time, to be precise) accept 5IR debt review proposals. That has allowed us to negotiate our clients’ credit interest rates from 21% down to 3%, on average. In this way, we help you unlock cash and take the pressure off your monthly budget.
REMEMBER! There are no short-cuts or quick fixes and consumers are advised to do due deligence when it comes to selecting debt counsellors. This may be done by:
Visiting www.ncr.org.za and performing an enquiry using the debt counsellors registration number or full names
Call the NCR on 0860 627 627