What is a Debt Counsellor

 Many people have their own ideas about what a debt counsellor does. But who better to explain their role than a debt counsellor themselves?

A debt counsellor is exactly what their title suggests—a counsellor for your debt. Just like other professional counsellors, they won’t make your financial problems disappear overnight, nor will they pay off your debts for you. They also do not provide loans. However, by working closely with a debt counsellor and committing to a structured plan, you can regain control of your finances and even become debt-free with time and dedication.

What Does a Debt Counsellor Do?

A debt counsellor:

• Assesses your financial situation to identify the root of your debt problems.
• Proposes tailored solutions to help you manage and repay your debt.
• Negotiates with your creditors on your behalf to arrange affordable repayment terms.
• Helps protect you from legal action by ensuring compliance with debt review regulations.

Important Things to Know

• A debt counsellor must be registered with the National Credit Regulator (NCR). If they are not registered, they are not legally allowed to practice debt counselling. You can verify their registration on the NCR website.
• The services of a debt counsellor are not free, but all fees are regulated by the NCR and must be disclosed upfront to clients.

By following a structured approach and working closely with a qualified debt counsellor, you can take control of your finances and work towards a debt-free future