Apply for a debt review - The Debt Review Process


  • Do you have a lot of loans?
  • Has someone suggested you apply for a debt review?
  • Do you find yourself always owing creditors?
  • Do you only pay the mimimum on your credit and other cards?
  • Do you know what the interest is you are currently paying on your credit cards, clothing account cards?
  • Are you clear on where you stand with car repayments or bond repayments?
  • Do you dread answering the phone in case it is a creditor asking for money?
  • Do you have more than one bank or credit card?
  • Do you buy on mostly on credit?
  • Have you have a legal notice from a creditor demanding payments?
  • Are you paying off one loan with another loan?
  • Do you need to ask for bank overdraft?
  • Do you know where your money goes to each month, how much is coming in and how much is going out?
  • Do you understand how much is still owing with all the loans and creditors combined?
  • Do you find that there is no money left at the end of the month, but still a lot of bills?


We do Debt Reviews Johannesburg, Midrand and Sandotn as well as throughout South Africa

  • Apply for debt review


011 704 2471 or 076 114 6436 or


Apply for a debt review 

As the cost of living increases, children need to have school fees paid and the economy changes, people run into financial difficulties.

Interest rates on loans and fees due to unpaid bills can mounts up leading to higher minimum monthly payments. A debt review process helps to guide you through the quagmire of financials by an expert counselor.

What is involved when you apply for a debt review?

At the consultation, the debt reviewer will need to work through the most recent financial documents such as:

  • Payslips
  • Clothing store invoices
  • Home loan information
  • Car payment information
  • Bank statements

It is best to be open and honest during the consultation, and to show all the information regarding financials to the debt reviewer. The more complete the information, the better the recommendations that can be made for the client. 

How do I become eligible for a debt review?

Each client has a different set of circumstances, and the criteria for debt review eligibility are broad and make allowances for many different financial situations. A qualified debt counsellor can negotiate with most creditors regarding repayments, and interest rates regardng the loans being paid back. Most persons who, after paying basic monthly living expenses will qualify for one form of debt review and a debt repayment adjustment plan. 

When should I apply for a debt review?

Prevention is better than cure. If unpaid bills and loans, unpaid fees are mounting up, then rather request relief assistance before the credit rating is affected. Debt review protection normally provides immunity from creditor legal action as the effort is being made to pay the remainding debt.

The debt review pocess

Contact us to begin the debt review process. We are registered counsellors doing debt reviews in Johannesburg and throughout South Africa.The first part of the debt review process is the paper work. Part of the process is to fill out the correct documentation which is then submitted to the debt counsellor. The debt counsellor will then inform the creditors that the person is under debt review, protecting the client against legal action against them. A certificate of balance of moneys owed is sent back to the counsellor for review. According to South Africa’s National Credit Act of 1995, consumers can start the debt review process by filling out a document called a Form 16 and submitting it to a debt review counselor.

Once this step is done, the debt counselor can then work with a client to plan an achievable repayment schedule. The repayment schedule is negotiated with the creditor by the debt counsellor on the clients behalf, which once agreed upon, are spcified on an affidavit stating the poroposed terms. The affidavit is a legally binding document. 

This debt review process allows both client and creditors to accept or reject initial proposed terms of repayment. Negotiation and adjustments are permitted until both parties reach an agreement both considers fair and beneficial. The primary role of the debt counselor is to act as an intermediary and to submit completed proposals to the court system to seal the repayment plan obligations.

Entering Debt Review with a Partner

This article considers marital couples married inside community of property or who have a traditional marriage.
Being married outside of community of property will change the debt review process.

When you decide to marry a person in community of property, you choose to link yourself to another person in the eyes of the law.
It is essential to have a serious discussion about both of your financial positions before deciding how you are getting married and how you are structuring your marital contract.
To make sure both parties know what they are linking to themselves.

Making big financial decisions together is also very important when married in community of property, to make sure that if you do enter debt review, there are no surprises for either of you. Unfortunately, even if your partner creates debt without your knowledge, it will be seen as both of your debt - because you are one legal entity.

Likewise, when one partner enters debt review, it will be seen as both partners entering debt review as your finances are tied together. Both of you will also be responsible for the restructured payments.

When you do start to accumulate debt, in-action is the worst thing that you could do.

If you do have a marital contract in place before marriage, you will not be required to enter debt review with your partner, but your joint household income will be taken into account when the debt counsellor is calculating your repayment.

Even if you have a marital contract if your partner chooses to include a debt that both of you are responsible for (both signed the credit agreement) you will also need to enter the debt review process. This will generally be debts such as Home Loans or Vehicle Finance.

It can be challenging to talk to your partner about debt review if they do not feel like the debt you are in is a problem, but you cannot do it without their knowledge and will need to convince them to enter deb review with you.

When your partner does not want to enter debt review, it is essential to talk to them about the pro's and cons and make sure that they understand what it will mean for your financial situation if you do not enter debt review.

We can assist you and your partner to get out of your debt with our debt review and debt counselling services. Contact Killaghy to get your debt under control today.


Killaghy Business Solutions are Registered Debt Counsellors


Debt counselling and debt reviews Johannesburg

Debt counselling and debt reviews Midrand

Debt counselling and debt reviews Sandton

Apply for Assistance:

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