THN Debt Counsellors
The National Credit Act, Act 34 of 2005 came into full force and effect on 1 June 2007 and with it came the inception of debt review and debt restructuring. Since its inception, debt review and debt restructuring have posed consumers alike. In order to solve some of these challenges major credit providers, in consultation with established debt counsellors and the National Credit Regulator, which should be employed in order to streamline the debt review and restructuring process. In order to share the outcomes of the work streams with all debt counsellors and to address the operational difficulties of the Act, the credit industry and the NCR have agreed to fund and facilitate this supplementary training to registered debt counsellors. As a result of all this, so came the conception of THN Debt Counsellors.
We represent affected consumers by negotiating with creditors to decreasing their monthly instalments by up to 50%.
Your goals are the foundation of your financial plan because you need to know what you want to accomplish before you can begin saving or investing.
Garnishee Order Rescission
In simple terms, a “garnishee order” allows a creditor to force your employer to deduct money from your salary...
At THN Debt Counsellors we promise you the lowest rates in the region.
Our staff will take time to sit down with you and explain all you want to know.
We keep our client fully appraised of the process as we carry it out every step of the way.
In cases where clients need to communicate, we support all platforms, email, fax, cell and telephone
THN Debt Counsellors' documentation is of proper, easy to understand, standards that need little clarification.
I respect the way THN Debt Counsellors handled my application in a timely manner.
I was able to start my year in an improved financial position. Thank you THN...
THN Debt Counsellors' professional and above standard work ethic impressed me the most.
I would recommend them to anyone in need of their services.
I didn't know anything about Debt Review, so I commend THN Debt Counsellors' clarity & patience.
They really made me feel at ease when I asked questions, They have my vote.
About our company
THN Debt Counsellors is a national debt counselling company, with branches in Giyani, Polokwane, Mpumalanga, Johannesburg & Eastern Cape.
Our main focus is to assist and aid all the consumers who cannot afford to meet their monthly financial obligations.
The Man in Charge
THN Debt Counsellors was founded, and is currently run by Mahlori L. Ngobeni, a qualified, experienced & registered Debt Counsellor.
Points Of Merit
These are points that give THN Debt Counsellors a leading edge in the Debt Review sector. The longer the bar (higher the percentage(%)) the better the service.
Quick Processing Time
FAQs from clients
THN Debt Counsellors is a national debt counselling company, with branches in Giyani, Polokwane, Mpumalanga, Johannesburg & Eastern Cape. Our well trained & specialized Registered Debt Counsellors, who are also accredited and empowered by law (National Credit Act 34 of 2005 (Implemented on 01 July 2007)) are available all across our branches to aid all the consumers who cannot afford to meet their monthly financial obligations.
We represent affected consumers by negotiating with creditors to decreasing their monthly instalments by up to 50%. This makes their monthly obligations more affordable and eases the debt situation that so many consumers find themselves in due to the recession period we are just coming from. Once a consumer has applied for debt review, we protect them from creditors and blacklists secure their assets from repossessions.
THN Debt Counsellors can easily relieve indebted individuals before they are summonsed, blacklisted or their assets are repossessed. Once any of these legal actions are taken against them, their situation becomes more complex to resolve.
The Debt Review Process
This is the Debt Review Process as outlined by the National Credit Regulator following guidelines put in place by the The National Credit Act, Act 34 of 2005 which came into full force and effect on 1 June 2007.
Consumer approaches a debt counsellorConsumer
Debt counsellor notifies credit providers and credit bureau via form 17.1Debt Counsellor
Consumer may not incur any further debt (credit agreement or use overdraft / credit card) unless it is to consolidate debtConsumer
Credit providers issue a certificate of balance to the debt counsellorCredit Provider
Debt counsellor confirms to credit providers whether consumer is over- indebted or notDebt Counsellor
If consumer is over-indebted, debt counsellor and credit providers enter into payment negotiationsDebt Counsellor
Consumer commits to a payment plan and makes monthly payments to Payment Distribution Agent (PDA)Consumer
Payment Distribution Agent distributes funds in terms of the payment plan (or debt rearrangement order when granted) to credit providersPayment Distribution Agent
Consumer ensures that credit providers receive regular monthly payments as agreed in terms of an accepted proposal (or debt rearrangement order when granted) to avoid terminationConsumer
Matter is set down in court by the debt counsellor (credit providers may oppose the matter in court if agreement is not reached)Debt Counsellor
The process is finalised by the granting of a debt rearrangement orderEnd of Process
Consumer’s financial position is to be reviewed annually by the debt counsellorDebt counsellor
Debt counsellor issues a clearance certificate when debt is settledDebt counsellor
NB. Important time lines
Debt counsellor must submit a Form 17.1 to all
credit providers within 5 business days (excluding
Saturdays, Sundays and public holidays) from date
Credit providers must provide certificate of balance
to the debt counsellor within 5 business days to the
debt counsellor after receipt of the Form 17.1 .
Fun facts about us
Let us help you from under your burden of Debt
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Come & listen to how we can help you.
One Client saved over...
Our Highest record for a single client to date.
The bulk of our Applications come back successful.
Member of our team
The staff of THN Debt Counsellors is more than suited to explain, assist and aid in of the services we offer.
Our Managerial team insures a Motivated, Convivial and Scholarly team to deal with any questions you may have, meet our managerial team.
Maxwell MahlauleMarketing Manager
Thomas ChaukeOperations Manager
Tsakani NgobeniAdmin Officer