A Guide to Finding Legitimate Debt Counselling Services
Are you struggling with debt? Are you feeling overwhelmed and unsure of where to turn for help? If so, debt counselling may be a good option for you. However, it's important to ensure that you're working with a legitimate debt counsellor who can provide you with the support you need. Here's what you need to know:
1. Look for registered debt counsellors
Debt counselling services are offered by debt counsellors who are registered with the National Credit Regulator (NCR) in South Africa. Before becoming registered, debt counsellors must complete a debt counselling training course, meet prescribed education, experience, or competency requirements, and demonstrate their ability to manage their own finances.
To verify the registration of a debt counsellor, check their registration certificate, which should display the NCR logo, the debt counsellor's details, and registration number. Additionally, all registered debt counsellors should have a visible green window decal at their premises.
2. Check their qualifications
In addition to being registered with the NCR, it's important to ensure that the debt counsellor you're working with has the proper qualifications to provide you with the support you need. Look for a debt counsellor who has experience in your specific type of debt and who has a good track record of helping clients achieve financial stability.
3. Understand the fees
Debt counselling services are not free, so it's important to understand the fees associated with working with a debt counsellor. These fees may include an upfront assessment fee, a monthly aftercare fee, and a restructuring fee. Be sure to ask your debt counsellor about their fees upfront so you can make an informed decision about whether or not you can afford their services.
4. Know what to expect
Finally, it's important to have a clear understanding of what to expect from your debt counselling services. Your debt counsellor should provide you with a detailed debt repayment plan that outlines how much you'll need to pay each month, how long it will take to pay off your debts, and what your interest rates will be.
Additionally, your debt counsellor should provide you with ongoing support and guidance throughout your debt repayment journey. This may include financial education, debt management strategies, and budgeting advice.
In conclusion, working with a legitimate debt counsellor can be a great way to get your finances back on track. By following these tips, you can find a debt counsellor who can provide you with the support and guidance you need to achieve financial stability.
​​If you have any questions about debt you currently have, please feel free to reach out to a member of the Libertine Consultants team. We are here to provide you with judgement-free support and advice.
Need advice? We can assist with that too! Submit your inquiry to us via email advisors@libertineconsultants.co.za and we will provide you with sound insights on the best way forward. In the meantime, keep an eye on our YouTube channel to get more practical advice on managing the financial stress of the pandemic.
