Debt Paid

Debt Paid is a registered Debt Counselling company. We assist over-indebted consumers to meet their debt obligations and have enough to start living again.

What is Debt Counselling?

Debt Counselling can be briefly explained as follows:

Debt Counselling is a process in terms of the National Credit Act (NCA). The consumer applies for debt counselling and Debt Paid informs the credit providers and credit bureaus of the application. Debt Paid then verifies the information provided by the consumer and credit providers upon request and assess whether the consumer is over-indebted or not. Depending on the outcome, Debt Paid the assesses whether the consumer is eligible for debt review or not.

The credit provider and credit bureaus are informed of the decision and if the consumer qualifies for debt counselling, Debt Paid drafts a debt restructuring proposal. After consideration of the debt restructuring proposal, the matter is referred to a magistrate's court and the consumer is declared over-indebted.