Credit Bureau Report

What to provide / take with for you (and your spouse where applicable)

  • Identity document
  • Salary statement / proof of income
  • Marriage certificate (including the agreement of married ANC)
  • Creditor statements
  • Any recent letters / correspondence received from creditors
  • Last three months bank statements if available
  • Bank account details
  • Proof of residence


Tips for debt review:

  • Your debt counsellor MUST be registered at the National Credit Regulator (NCR).
  • Open a new low cost bank account at a neutral bank to start the debt counselling process, and notify your employers pay office of the new account details.
  • Your current accounts (credit facility and cheque account, whether in debit or credit does not matter) will be “frozen” as soon as the credit provider receives notice of the debt review – therefore provide for cash flow until next salary date.
  • Provide all documents required throughout the process as soon as possible.
  • Provide for repayments according to the repayment plan and contact your debt counsellor if the due amount has not been deducted on the agreed date.
  • Keep your debt counsellor informed if creditors contact you after the debt review process commenced.
  • Married in community of property means that both spouses must apply for debt review.
  • DO NOT enter into any further credit agreements after signing the debt review application forms.
  • Destroy all credit cards and store cards used to obtain credit.
  • Accounts where legal action started are not included in the debt review by the Act, accounts may only be included by agreement with the concerned credit provider.


Tell tale signs that Debt Counselling (also known as Debt Review) is suitable for you:

  • Normal and basic living expenses are neglected because you do not have money available
  • Insurance debit orders are not paid because of inadequate funds available
  • The one credit card is being paid with the other
  • You are buying food on credit
  • You can’t keep up with all monthly debt payments, it becomes a choice which credit provider to pay – sometimes only the one creditor is paid because there is not enough money to pay the other
  • You suspect that monthly bills exceed your income, you do not have a monthly budget.
  • You do not open the bills, they are piling up and you don’t keep track of debts
  • Collectors are calling for account payments
  • You feel threatened and/or anxious when your phone rings
  • You sleeping patterns change because of financial restraints
  • Your social life is affected by debt repayments


Speak to the ICS Debt Counsellor:

The Debt Counsellor will obtain information to draw up your budget, list all debts, consider re-structuring of your debts and prepare a Debt Repayment Plan. Negotiations are done on your behalf with your creditors, and a Court Order protects you after the initial process is completed.Complete the details, even if you are in doubt – we will contact you free of charge.


Advantages of debt counselling

  • You are protected by an Act during the debt review process
  • The debt counsellor negotiates with all your credit providers
  • Monthly debt repayments are reduced
  • Most of the biggest credit providers allow some interest rate reductions if the consumer is prepared to make lifestyle changes
  • Valuable assets like your car and house included in debt review process are protected
  • It serves as a tool to avoid sequestration
  • Your budget is done according to your needs
  • Negotiations are done on your behalf
  • A debt review court order protects you after completion of the initial process
  • Your debt review status is reported to the credit bureux, preventing credit providers from marketing and granting you further debt that you will not be able to repay.


It is important to note that:

  • Debt Review is a formal and legal process
  • You are expected to make lifestyle changes
  • All valid current debts must be paid, even where it is found to be reckless.
  • A misguided perception exist that reckless agreements must be written off
  • You only pay one amount per month which covers payments to your creditors. The amount will provide for: 1. your debt counselling fees in the first month 2. legal fees in the second month 3. after care fees 4. payment distribution fees
  • Fee guidelines as published by the National Credit Regulator (NCR) are available at
  • Repayment periods may be extended to reduce monthly repayments
  • Interest rates may only be reduced by agreement with credit providers


How do I get help?

We realise that debt mediation may come across as confusing and complicated.

In order to make the process as simple for you as possible, have a look at the steps you need to take, in order to understand how debt mediation works.