Debt Counselling Scams: how to choose a reliable debt advisor

Too many South Africans are buckling under the weight of debt. On a daily basis, they are faced with high levels of stress and feelings of despair, because they cannot seem to escape the debt cycle despite their best efforts. Unfortunately, where there is human vulnerability, there is also exploitation. There is no shortage of debt relief agencies that are exploiting this vulnerability and despair. Debt and credit counselling scams are a harsh reality. If you are living with debt, the only way to protect yourself in an already vulnerable state is to be very cautious and well-informed.

On a more positive note, due to the rapid increase in scams over the past few years, there is generally a greater public awareness of this occurrence. If you do your homework, it is relatively simple to identify dishonest companies and steer clear of them.

Here are some tips to identify honest, reputable agencies like Zero Debt and avoid Debt Counselling Scams:

  • Use independent review forums. It is valuable to be present on forums where you can learn from other indebted individuals, who share their experiences with a specific company/agency.
  • If the company you are considering does not appear in the review forum, you can post a question and get responses from fellow Internet users.
  • Take being rushed by a company/agency as a warning sign. Never make a hasty decision: choosing a debt relief/counselling agency is not something to be rushed into. Do your homework first.
  • Have a careful look at what payment will consist of. Even if it is an honest company, how much will you truly be saving through them? At Zero Debt, our payment is only a percentage of the amount we save a client.
  • Ensure that there will be good after service. A professional debt relief company should noet abandon you after you become debt free. They should educate and equip you to be financially self-sufficient in the future: teaching you the necessary skills to manage your finances after becoming debt free.

Zero Debt is registered with the National Credit Regulator (NCR). Clients or prospective clients are welcome to contact the NCR for confirmation hereof. We can also provide you with our debt counsellors’ certificate on request. We handle all applications with great integrity and confidentiality to ensure peace of mind for our clients.