NH Debt Solutions now trading as SA Finance Management and DRS

NH Debt Solutions has been established by Miss Nishara Huripursad, a duly registered debt counsellor (NCRDC 2633). NH Debt Solutions offers debt counselling services to consumers who are struggling to meet their monthly obligations to creditors, This is not a loan agreement neither do we pay off your debt for you, we merely assist in reducing the monthly original instalments and interest rates to creditors. This can be reduced up to 60 %. This procedure allows clients to save and enjoy the benefits of having extra cash on a monthly basis.
How the debt review process works:

1. Application for debt review

Once we receive your signed application form and all relevant documentation we will notify your creditors and credit bureaus including the NCR of your application for debt review. Once your creditors are notified legal action cannot be taken against you.

2. Free Debt Assessment

During this step we establish if debt review would benefit you, whether you are over indebted or struggling to meet your monthly obligations. We will provide you with a monthly living budget to assist with repaying your debt and living expenses.



3. Repayment Plan and proposal

Here we negotiate with your creditors on your behalf for a new repayment plan and interest rate which is within your affordability.
4. Legal

We appoint an attorney within your area to appear at court on your behalf. This is merely a formality whereby the magistrate makes your application and new repayment plan a court order. A creditor may oppose a matter and request a higher instalment especially if an asset is involved or you have defaulted in payments.


5. Clearance Certificate

Once all your debt has been paid off we issue a clearance certificate and notify all credit providers and credit bureaus, including the NCR.

Your application is reviewed on an annual basis and we check if your circumstances have changed
South African consumers were becoming over indebted and victims of reckless lending, to assist them to get out of debt the National Credit Act (NCA) introduced Debt Counselling otherwise known as Debt Review or Debt Management. This process is regulated by the National Credit Regulator (NCR) who ensures that all assistance offered by a Debt Counsellor is lawful and ethical and designed to offer consumer’s one monthly affordable instalment until their debt is paid up. Unlike administration Debt Counselling does not have long term effects and you are able to access credit again once your current debt is paid up within 5-7 years depending on your circumstances and affordability.
Debt Counselling is a process that assists consumers whose expenses exceed their income. It is understood that these consumers cannot afford their full monthly instalments. Debt Counsellors are authorised to approach creditors on the consumer’s behalf to reduce their monthly instalment. Debt Counsellors have the ability to immediately stop legal action and reduce your repayment and interest rates by up to 60%. These are permanent arrangements until your debt is paid off as opposed to the temporary arrangements that credit providers will make directly with the consumer.
Debt Review is a process that brings your debt under control in one permanently reduced monthly instalment.
When one account is settled, that instalment is used to pay the remaining accounts. Once all your accounts are settled a clearance certificate is issued and there is no permanent record of being under Debt Review unlike Administration or sequestration. The process leaves no black mark against your name. You may now apply for further credit within your budget.
Debt Review gives you ONE PERMANTENTLY REDUCED MONTHLY INSTALMENT until your debt is paid up. There is no stress of dealing with individual creditors or legal action from them.


Accounts included under debt review:

All secured lending such as property and vehicle finance can be included in the debt counselling application except where judgement has been obtained or a Letter of Demand (also known as a Section 129 Notice) has been issued. Unsecured lending such as credit cards, store cards, and personal loans must also be included in the debt review application. Service agreements such as cell phone contracts, levies in arrears, electricity bills, pharmacy accounts, school fees etc. are not included in the debt review process



Documents needed for the debt review process
• Your ID document
• Your payslip
• 3 Months bank statement reflecting your salary
• Marriage certificate
• List of monthly expenses
• List of all income
• Details of Accounts- Creditor statements etc





Payment to creditors

All payment distributions must take place through a registered Payment Distribution Agency. Arrangements for bulk or once-off payments can be arranged through your Debt Counsellor or debt. You must then contact your Debt Counsellor to make arrangements to restructure your repayment plan.

Defaulting payments

No, the debt review process does not provide you with payment holidays. You must still make monthly payments, as agreed with your accredited debt counsellor, from the first month you apply. If you fail to make your monthly payments you are in default and the Debt Counsellor and/or the credit providers could terminate your debt review. These places you at risk as your credit providers can precede with legal action

We offer nationwide assistance