Rebuild Your Life
Paving the way for your financial future.
Welcome to Starfish Debt Consultants
Facing debt repayments that you cannot afford can be overwhelming, but you do not have to face this journey alone. The National Credit Act (NCA) of 2005 was introduced to assist consumers in paying off their debts in a structured manner that is affordable to them. Starfish DC is there to help you through the process of getting your monthly debt repayments reduced. As an added benefit, you will be legally protected from your credit providers pestering you.
National Credit Regulator (NCR) registration number: NCRDC 4501
BENEFITS
Expert help to set a realistic budget to cover debt
repayments and living expenses.
You pay less on your total monthly debt repayment
instalments. Simplify your financial management.
Avoid missed payments with a single monthly
payment instead of many.
You will still be able to afford your essential living
expenses.
We deal with all your creditors who are included in
your repayment plan.
You get legal protection from creditor harassment via
a court order.
You have a structured plan to become debt free.
Why choose Starfish Debt Consultants?
At Starfish DC, we specialise in providing tailored debt relief solutions to suit your specific circumstances. Our experts are committed to helping you alleviate your financial burdens and guiding you toward a brighter financial future with clarity, compassion, and a personalised plan that works for you.
Personalised Solutions:
We understand that every individual’s financial situation is unique. That is why we offer customised debt relief plans tailored to fit your specific needs and goals.
Experienced Professionals:
Our team is comprised of seasoned experts who have successfully guided thousands towards a debt-free future.
Transparent Process:
We believe in clarity at every step. With no hidden fees and a transparent communication strategy, you’ll always be informed and in control.
Proven Results:
Our track record speaks volumes. Countless testimonials and success stories demonstrate our commitment to helping clients break free from the chains of debt.
Empathetic Support:
We’re not just debt relief experts but your partners in this journey. Our team is genuinely dedicated to understanding your situation and providing support every step of the way.
Expert Help:
Our professionals help you to set a realistic budget to cover debt repayments and living expenses.
Pay Less:
You pay less on your total monthly debt repayment instalments.
Structured Plan:
You have a structured plan to become debt-free.
Avoid missed payments:
Avoid missed payments with a single monthly payment instead of many.
Afford Living Expenses:
You will still be able to afford your essential living expenses.
Creditors Dealt With:
We deal with all your creditors who are included in your repayment plan.
Legal Protection:
You get legal protection from creditor harassment via a court order.
Let Starfish Debt Consultants be your guiding light towards a debt-free horizon.
Our Services
Debt Counselling
Debt counselling offers expert guidance to help you assess your options for alleviating financial stress. We can provide you with a free credit report and an estimate on how much less you could pay on your monthly debt instalments. It’s your first step towards regaining control over your expenses.
Debt Review
We negotiate with your creditors on your behalf to reduce your monthly repayments, interest rates, and fees. Consolidate your debt repayments without taking out an additional loan. We facilitate the court application to formalise your debt repayment plan and to legally protect you from your creditors.
Credit Monitoring
Protect your financial health with proactive credit monitoring. Stay informed about the status of your repayment plan. An annual review is conducted to adjust your plan for opportunities to settle your debts earlier.
Clearance
When you have successfully paid off all the debts included in the plan (excluding bonds), we will remove you from Debt Review by issuing a Clearance Certificate. This is your fresh start to financial freedom and responsible debt management.
frequently asked questions
Who is the National Credit Regulator (NCR)?
The NCR is a regulatory body established by the National Credit Act (NCA) of 2005. The NCR regulates consumer credit in South African and promotes a fair marketplace for access to consumer credit. It registers and regulates credit bureaux, credit providers, and debt counsellors.
What is Debt Counselling?
Debt Counselling is the process of seeking professional help from a registered debt counsellor to address over-indebtedness. The counsellor works with the consumer to assess their financial situation, identify all debts, and negotiate with creditors to create a debt repayment plan that is affordable and sustainable. A Debt Counsellor will place successful debt counselling applicants under Debt Review.
What are the criteria for applying for Debt Review?
- You must be a South African citizen with a valid ID document.
- You must be 18 years of age or older.
- You must be employed or have a source of income.
- Have debt of at least R3500.
- If married in Community of Property, your spouse must be included in the process.
How long will I be under Debt Review?
The duration depends on numerous factors and can only be determined once we have all the relevant information. This includes the total debt outstanding, the amount needed to cover necessary living expenses, the amount available for debt repayments, and the agreed terms negotiated with your creditors.
How do my creditors get paid when I’m under Debt Review?
All your debt payments are simplified into a single, affordable monthly payment made to a Payment Distribution Agency (PDA). The PDA is responsible for distributing these payments among your creditors according to your legally restructured payment plan. The PDA gets a small fee for managing and distributing your payments to creditors.
What happens if I miss a Debt Review payment?
Failing to make a payment takes you a step back from reaching financial freedom. Missing payments gives your creditors sufficient legal grounds to terminate your Debt Review and commence legal action against you.
Must my spouse also be placed under Debt Review?
If you are married in community of property (COP), you legally share all assets and debts with your spouse. Therefore, by law, both of you must go under debt review jointly.
Does it make a difference if I own my home or not?
No, it does not make a difference, your bond will also be included in the debt review.
Will my bond be included in the new repayment plan?
If you have no pending legal action related to your bond, it will also be included in your debt restructuring. In most cases, banks will accept a reasonable offer, however, in some cases you will keep the normal instalments on your bond.
Will creditors continue pursuing me for payments?
When you have been placed under Debt Review, your creditors are obliged under the NCA to stop pursuing you. Sometimes there can be a time delay for creditors to update all their records. Should any of your creditors contact you or send you any demands, you should inform them to contact your Debt Counsellor who will act on your behalf and forward any letters to us.
What happens when complete the Debt Review process?
When you complete the Debt Review process, it means that you have repaid all your restructured debts (you may still have bond repayments), and that you can regain your financial independence. Your Debt Counsellor will issue you with a Clearance Certificate that serves as proof that you have no longer have outstanding debts under debt review and that you are no longer flagged by the credit bureaux as being under Debt Review.
Reclaim Your Financial Future
Have questions? Need help? Don’t hesitate to reach out.
