Debt Counselling
One Reduced Monthly Payment, Lower Interest Rates, Less Stress. Debt Counselling Can Work For You.
How can we help you?
At Vantage Debt Management, we help you take back control of your money through professional debt counselling. If you’re struggling with loan or credit card payments, we negotiate with your creditors on your behalf and set up a single, affordable monthly plan that suits your budget. We also slash your interest rates and fees, saving you money in the short and long run.
Our Process
Free Debt Assessment
We review your credit profile to understand your challenges and goals.
Analysis & Recommendations
Receive a clear overview of your finances with tailored debt solutions.
New Repayment Plan
We negotiate lower payments and interest for one simple monthly payment.
Ongoing Support
Your account manager is available for quick, professional assistance.
Become Debt-Free!
Once settled, we provide a clearance certificate, freeing you to achieve your goals.
Let’s get started with your free debt assessment
An experienced consultant will contact you to understand your financial situation. We can then recommend the best options to get you out of debt quickly and affordably. In addition, you will get a free credit report & financial health report.
Case Study: How Debt Counselling Helped Thabo
Thabo has a home loan, two credit cards and a few other accounts. Due to unforeseen circumstances he missed 2 months of his car payment. Thabo has been receiving numerous phone calls, emails and SMS’s from MFC informing him that his vehicle is at risk of being repossessed.
The situation has put Thabo under a lot of stress. A friend recommended him to approach Vantage to see how they can assist.
A consultant conducted an assessment and got the following information from Thabo:
Thabo’s net income: R33 250
Thabo’s total monthly living expenses: R16 450
Thabo’s current total monthly debt repayment: R25 442
View Thabo’s current debt profile below:
| Credit Provider | Account Type | Current Balance | Current Instalment | Remaining Term (Months) | Current Interest Rate |
|---|---|---|---|---|---|
| SA Home Loans | Home Loan | R675 792 | R7 424 | 174 | 9.8% |
| MFC Vehicle | Vehicle Finance | R73 556 | R3 200 | 26 | 10% |
| Standard Bank Mastercard | Credit Card | R64 802 | R2 330 | 37 | 17.6% |
| FNB Credit Card | Credit Card | R150 321 | R7 821 | 24 | 18.6% |
| Woolworths | Store Card | R3 248 | R417 | 9 | 23% |
| FNB Overdraft | Overdraft | R85 000 | R4 250 | 22 | 18% |
Currently, Thabo is the breadwinner in the household, as his wife is not working. After all of these debts have been paid, they are left with only R7 808 each month for their basic living expenses.
The problem is that Thabo’s rent is already R8 500 per month. On top of this, the family needs groceries, water and electricity and his kids’ school fees need to be paid. This forces Thabo to use his credit cards and his overdraft at the end of every month, just before payday. This is known as a debt cycle.
After speaking to Vantage, it was established that Thabo is clearly over-indebted. He has got a monthly shortfall of R8 642 (Income minus Living Expenses minus Debt Repayments). His income is not enough to cover the living expenses and the debt repayments. He needs urgent help before his car and home get repossessed and sold. Due to his financial situation, Thabo desperately needs a solution.
Debt counselling will assist Thabo with immediate relief by reducing his monthly debt repayments. Based on Vantage’s calculations, his new monthly repayment will be R15 900, saving him R9 542 each month.
After his salary gets paid and he pays his new debt counselling repayment of R15 900, he will be left with R17 350 for his living expenses. Thabo no longer receives calls and SMS’s from his credit providers and his house and car are safe. He can now afford all the things that matter and no longer needs to be stressed at the end of the month. He may even have some extra cash leftover to save for a rainy day.
Why Vantage
Registered with NCR
Vantage Debt Management is registered with the National Credit Regulator (NCRDC 2955) and complies with all regulatory guidelines as per the National Credit Act.
FREE Valuable Insight and Advice
We offer financial assessments and expert advice to manage your debt. You will get a credit report, financial health report and professional advice, all completely free.
Affordable and Flexible Repayment Plans
With our vast experience, industry knowledge and the latest technology we can accurately find the most affordable solution for you. The time it will take to repay your debt is flexible and in your control.
Your Own Specialized Account Managers
To ensure you are always comfortable, you will have a dedicated team to speak to regarding any queries you may have. Our friendly and experienced staff are here to listen and help you whenever you need them.
Ethical and Transparent
We pride ourselves in being open and honest in everything we do. Transparency, honesty & respect is in our DNA.