| Comparison table of Debt Solutions |
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Debt Counselling |
NDMA |
Debt Management |
Debt Consolidation |
Insolvency |
| Protects me from all my unsecured creditors |
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| Avoids having to sell my house to release any equity |
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| Stops interest building up |
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| Creditors are obliged to help |
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| The arrangement runs for a fixed period |
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| Creditors should stop chasing me |
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| It avoids the stigma of personal bankruptcy |
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| The people that arrange it have to be qualified and licensed |
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| Will it be on my credit record? |
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| If so for how long? |
Until debt is repaid |
Until debt is repaid |
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3 - 10 years |
| How much does this service cost for an individual? |
R3,000 + 5% monthly |
R3,000 + 5% monthly |
R1,500 |
1% of the loan |
R20,000 |
