Why must debt review fees be paid to your debt counsellors?

Debt Counselling is a formal process, which is governed by the National Credit Act. Your monthly debt repayment amount is specific to your situation and how much you owe on your debt in total. Debt Counsellors are permitted by the NCR to charge certain fees which include:

1)      A once off restructuring fee of 100% of your debt rehabilitation amount up to a maximum as per the NCR’s guidelines

2)      A once off Application fee of R57 incl. VAT.

3)      A Sundry Fee equivalent to your monthly debt rehabilitation amount for your legal application to the NCT or Magistrate Court.

4)      A monthly Aftercare Fee of 5% (ex VAT) of your monthly debt rehabilitation amount for every month that you are under debt counselling.

5)      A monthly Transactional Payment Distribution Fee (PDA) as per the NCR.

Here is a simple breakdown of what you will need to pay and when:

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