Here's How Much It Costs to Get Debt Counselling in South Africa

As South Africans adjust to living in a country in the midst of a technical recession, the National Credit Regulator (NCR) has urged the public to make use of debt counselling services to avoid defaults and asset repossessions.

A common question is: How much does debt counselling cost? The good news is that all fees are strictly standardized and built into your single affordable monthly payment.

1. Statutory NCR Fee Structure

The National Credit Regulator prescribes exact fee caps to ensure consumers are never exploited:

• Application Fee: R50 (fixed by the NCR).
• Restructuring Fee: Equal to the first month’s restructured payment (capped by the NCR).
• Monthly After-Care Fee: A small monthly percentage (5% capped at R450/pm) to oversee payments and issue clearance certificates.
• Legal / Attorney Fee: Standardized fee to draft court pleadings and obtain the Magistrate Court consent order.

2. Zero Upfront Out-of-Pocket Payments

You do not need to pay thousands of Rands upfront. The entire fee schedule is built into the restructured payment plan distributed via an accredited Payment Distribution Agency (PDA).

3. The Massive Net Savings

When you consider that Debt Cue negotiates interest rates down from 24% - 28% to as low as 0% - 5%, the thousands of Rands saved in interest and collection fees vastly exceed the statutory debt review fees.