The costs of debt review are strictly regulated by the National Credit Regulator (NCR) to ensure fairness and affordability. These fees are designed to support the debt review process while keeping your financial recovery in mind.
When you enter debt review, all fees are incorporated into your restructured repayment plan. This means you will not have to pay them separately; they form part of your single, reduced monthly instalment.
All NCR-registered Debt Counsellors are authorised to charge regulated fees, which include:
- Application Fee: A one-time fee of R350 (excl. VAT).
- Restructuring Fee: Equal to your first month’s debt review instalment, capped at R8,000 (excl. VAT) for an individual application and R9,000 (excl. VAT) for a joint application.
- Monthly After-Care Fee: 5% of your restructured debt repayment (excl. VAT), capped at a maximum of R450 (excl. VAT) per month.
Before you commit to debt review, your debt counsellor will provide a full breakdown of the costs and explain how they fit into your repayment plan. Transparency is key, and you will always know exactly what to expect.
If you’re considering debt review and want to understand the costs in detail, contact us today for a free assessment.
