Debt relief hits two birds with one stone: It reorganises your debts so that they are easier for you to repay, and it also benefits creditors by allowing them to recover at least a portion of what you owe them.

There are many approaches to achieving debt relief, including lowering your interest rates, extending your repayment period, or reducing your debt. At Vantage, we can help you understand all the options to take control of your financial situation. Our honest and transparent approach gives you the information you need to take control of your money right now, as well as your financial future.

Since 2017, we have been helping consumers identify the root causes of their debt problems and manage their finances via long-term guidance and education. This approach allows us to do our part in reshaping the industry and empowering South Africans to build a better financial future for themselves. Read on and discover how we can help you achieve debt relief.

Debt review

Debt review was introduced in 2007 as a solution for South Africans grappling with excessive debt, offering a more effective alternative to administration or sequestration. However, due to a series of issues, the National Credit Regulator (NCR) implemented stricter regulations to protect consumers. These days, the process is officially known as “debt counselling,” but despite this change, the term “debt review” is still widely used to refer to the same concept.

Debt counselling

We are an NCR-registered counsellor, meaning we are qualified to formally negotiate with creditors to reduce your interest rates and monthly repayments. With our help, it’s possible to minimise your monthly debt repayments by up to 65%. We also have a track record of reducing the interest rates on unsecured debt to as low as 0% to 4%. This approach to debt relief has made it possible for our clients to save thousands of Rands in interest from the first month.

The debt counselling process usually takes between 24 and 60 months to complete, but during this period, you have the flexibility to make extra payments at any time to reach your goal faster. Once you’ve successfully paid off your debts, you’ll receive a clearance certificate that confirms your debt-free status.

Consolidation loan

If you have many different smaller loans and find it hard to keep track of all of them, we may recommend a consolidation loan to pay them off. It’s essentially a personal loan that can simplify your debt payments and provide some financial relief. However, you’ll generally need a good credit score and a history of on-time payments to qualify. We offer a free assessment to determine if a consolidation loan is the most suitable way to manage your debt.