The debt review program came into effect following the enactment into law of the National Credit Act no. 34 of 2005. The Act provides for debt counselling which is an alternative debt relief program to Administration and Sequestration.
Debt counselling is a solution to assist over indebted consumers. The program takes into consideration the consumers overall financial position and establishes a holistic strategy to get the consumer out of debt. Debt Review provides protection to the Consumer from Credit Providers who harass them, threaten to blacklist them or threaten to repossess their assets.
Section 86 of the National Credit Act regulates the Debt Review Industry. Consumer rights are specifically protected by the Act and entitles the consumer to a fair and reasonable debt rearrangement plan.