More credit management options

There are other cash flow options to help you if you’re struggling with your credit repayments.

Debt Relief

If the repayment options currently available don't fit your cash flow needs and you're considering debt review, explore more about it below:

What is debt review?

Consider debt review if other debt relief options couldn’t help you and you are over-indebted (you have more debt than your current income).

Remember, debt review should be your last resort to get debt relief.

If you’re over-indebted, a debt counsellor can help by restructuring your debt repayments based on what you can afford. The debt counsellor will assess your living expenses and calculate an affordable payment plan:

  • If you are found to be over-indebted, the debt counsellor will calculate a single monthly debt repayment so that you can afford to have enough money to pay for necessary living expenses
  • The debt counsellor will submit a repayment proposal to your credit providers. If they accept, the debt will be restructured using a consent or court order
  • For the duration of the debt review period, your credit bureau report will show that they’re undergoing debt counselling

The debt review process with a counsellor only helps you manage and repay your debt. It doesn’t mean that your debt gets written off.

If you’re struggling with debt, always contact us before making any decisions. We can help you look for personalised options for your credit instalments.

Debt review can be an option; however, be careful of misleading information about the process, benefits, and long-term legal consequences.

If debt review is your only choice, do your research and choose a registered counsellor from the National Credit Regulators (NCR) list. For more information, visit ncr.org.