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get out of debt

Free yourself – take control of your money again.

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According the Credit Ombudsman, the number of people applying for credit they can’t afford increases between November and January the following year.

If that sounds like you, don’t worry. You can be in control again.

Don’t run from your creditors

If you're having trouble managing your debt, speak to your credit providers about it. As a Capitec Bank client, we can help you in one of 2 ways: 


Rescheduling means extending your loan payment period, increasing the number of monthly repayments and decreasing your monthly repayment amount. Visit your closest branch and ask us about rescheduling your loan and whether you qualify. 

This is a free service.

Remember: Even though you'll end up paying less per month and have more money to spend, you'll be paying more for the total loan amount because of more interest.


You can consolidate all your loans into one by taking credit of up to R250 000 over 84 months. You'll reduce the number of debit orders and/or manual payments you need to make, as well as your total monthly repayment, helping you stay in control of your money.

Tip: Before you consolidate, don’t just think about how much and for how long you’ll be paying. Look at all the costs involved when you take credit.

List all your debts

Take an honest look at your problem and list all your debts, their balances and interest rates. Also include the minimum monthly repayment for each. This will give you a clear picture of how much you owe.

Prioritise your payment goals

Use any extra money you have to add to the repayment of the debt with highest interest first, or the debt that you’re close to paying off.

Tip: Save and free up some money.

Use the money you save to tackle the next debt

Once you’ve paid off a debt, you’ll have some extra money available. Instead of spending it, add it to the repayment of the next debt you want to settle so you can pay it off quicker.

Not sure you can stick to it? Build habits that stick in 6 steps.

Use any windfall money

Did you receive a bonus or a tax rebate from SARS? Did you make some extra money by selling something online? Use it to pay off your debt.

Deal with unauthorised debit orders

Debit order fraud is increasing. Don’t be caught out. Your bank statement will give you a view of your transaction history. Check for any debit orders you didn't authorise or that should've been cancelled by agreement, but wasn't. You can also dispute debit orders that don't stick to the agreement you entered into with a third party (incorrect amount, date or duration).

Take action: Use our app to dispute unauthorized debit orders under R200 to save time and money. 

You can dispute any debit order by going to your closest branch with the details of the debit order you're disputing. Any authorised debit orders you dispute will still be processed. 

Reward yourself

To pay off all your debt you must be disciplined. It’s going to be tough going sometimes, so reward yourself occasionally for your hard work. Remember, your reward must not involve buying something on credit.

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