Will debt counselling impact employment opportunities?

When going under debt counselling in South Africa, certain individuals have faced a number of difficulties in the past with regards to employment opportunities. This is due to the fact that when the debt counselling process was introduced in South Africa, many employers did not have the correct understanding of how it actually worked. However, today, signing up for debt counselling should not have any impact on your current job or on future employment opportunities and prospects.

Debt counselling in South Africa, was developed and introduced in 2007 as a positive rehabilitation process to assist South African consumers struggling with debt, and is viewed in a positive light by most employers.

In most occupations, it is generally vital that you are able to show that you can manage your personal finances correctly, especially if your occupation entails advising others on money management and financial products. This can be attributed to the fact that most employers will feel that if you cannot manage your own money properly; you will not be able to give other individuals sufficient financial advice.

Debt counselling is a voluntary process and thus, by taking your own initiative to sign up for the process, you are taking a responsible step towards repaying your debts and showing your employer that you are making an effort to manage your finances properly.

When you do not meet your debt repayments and address your debt problem, you will accrue defaults and judgements against your name. Judgements and defaults will show that you are failing to address your debt problems and take responsibility for your actions. Employers are most likely to view this in a negative light and will be hesitant to hire you.

DebtBusters deals with clients from a variety of industries. Most importantly however, DebtBusters interactions with clients are strictly confidential and will not notify employers about the clients debt review status.

If you are looking for a new employment opportunity and an employer conducts a credit check whereby they notice that you are under debt counselling, it should not have an impact on your chance to obtain the job. However, if necessary, DebtBusters can provide clients with a letter stating that they are under debt counselling and inform the employer about the process.