If you have debt problems or...

Maybe you are barely making it through the month or not making it at all or...

Maybe debt collectors are already hounding you and they can be a pain or...

You are worried that your wages or salary might be garnished.



Well, You do have a few options that can assist you.

Let’s have a look at what you can do to help your financial position.


1. YOU CAN DO NOTHING – but this will only make your situation get worse. More debt collectors will call, you might start receiving summonses, judgement, garnishees, your possessions could even be attached. 

Bottom line is that your debt WON’T go away. 

You must do something about it, but what?



i)   Create a budget

ii)  Cut expenses

iii) Maybe you can get a second part-time job

iv) And try and increase your income

v)  Even sell some assets or opt for a smaller car

If your debts are manageable and you are able to deal with them yourself then that would be the best option. Provided of course that you can deal with your creditors, and the debt collectors, and also know how to handle the legal issues as and when they arise.


3.  You may manage to get a CONSOLIDATION LOAN from a bank or lender, but to qualify for the loan you need to have a clean credit record and qualify for the loan as you would for any other loan or credit product.

If you are struggling to pay your accounts, the chances of getting the loan would be rather slim. But only the credit providers will be able to answer that.

But here is the main problem, in my opinion, of taking a consolidation loan.

Let’s assume you need R100 000 to consolidate your debt. You will end up repaying R201 000 plus over 60 months.

So why would you create more debt to pay your debt. That does not make sense at all.

Keep the debt that you have and start tackling it without creating more.


4.  If you have ASSETS THAT CAN BE SOLD to help pay your debts that may be a good option to consider. You can always buy them again in the future.



This option appears to be the most common option used by people who are over-indebted.

Here you have two choices:

  1. Debt Review or Debt Counselling
  2. OUR Debt management Programme - DMP

Before going this route do your homework first and make sure that you know who you are dealing with.

Just because someone has the best website or says they are good, or the best does not mean that they are the best.

Check them out on www.hellopeter.com first.

Once you have made your decision, know that it will affect your life for years and I will explain why and how in a minute.

If you can only afford to pay something and cannot pay in full then your best options are DEBT REVIEW or our DMP.

But which one is the best for you?

Let us compare them so that you can make an informed decision.

The first thing to remember is that we do not do debt review or debt counselling.

We offer a simple DEBT MANAGEMENT OR DEBT RELIEF PROGRAMME which differs quite substantially from debt review.

We draft a consumer proposal based on what we figure out that you can pay. We then propose a plan over time based on your affordability for your creditors. Thereafter we manage and pay your accounts each month. We handle all the queries and legal matters from the lawyers and debt collectors. You do nothing thereafter.

Let us have a look at the differences of debt review and what we offer in its place.

Note, that I am not saying that debt review is a bad programme. Just because it is legislated, does not mean that it is the only and best option out there. There are other options. You have the right to pursue these options, and you must decide which one is best suited for you and your needs.

Section 86 (1) of the NCA states that “A consumer may apply to a debt counsellor” to be declared over-indebted.

It does not state “MUST”, but “MAY” and that means you are left with the choice on which route you wish to pursue.


When applying for debt review, the following happens:

  1. The applicant is flagged on the CREDIT BUREAUS as being under debt review – If you wish to Rent a property or apply for a new job it can negatively affect your application. Your credit report is normally the first thing that is checked.
  2. A COURT ORDER will be issued declaring you over-indebted. To have it removed you will have to appoint an attorney to apply to the court to have it rescinded and for you to be declared no longer over-indebted. And that exercise can set you back from R8000 to R15000 in legal fees, and there is no guarantee that the court will accept your application.
  3. MAY NOT CANCEL until all debt has been paid
  4. NO MORE CREDIT allowed whilst under debt review
  5. Debt CANNOT PRESCRIBE whilst under debt review.

That is what the law says. 

Let us see exactly how we can help you.

We work similarly to debt review, BUT THE DIFFERENCE IS……………

  1. We do NOT list you on the CREDIT BUREAUS
  2. With us there is NO COURT ORDER
  3. Under our DMP you MAY CANCEL at any time that you feel you are financially strong again
  4. You are allowed to apply for CREDIT, but it will obviously be subject to the credit providers assessment as with any other application
  5. Finally, with us it is possible that your debts can PRESCRIBE


Once all your debts have been settled you simply walk away and get on with your life.

We give you the BREATHING SPACE when you are over-indebted until you are financially strong again.