Please see information on Debt Management below.


Debt Management

Having problems with Debt?

Millions of people across the world will go into to debt at one time or another. If you are having debt problems, you are not alone. You might have debts from loans, credit cards or overdrafts but simply ignoring your debts will not make them go away and will probably only make the situation worse. If you want to take action and get back on track you might want to consider a debt management service.

What is a Debt Management Plan?

With a management plan your debt situation will be assessed and providers will work with you to find the best solution to help you overcome your financial difficulties. As each debt service depends on your individual circumstance you should make sure you find a tailor made plan that best suits you.

Debt management plans are offered by many firms and organisations in South Africa and you should do you research before you choose the right one for you.

The time it takes for a plan depends on your personal situation. Some can take years before all debts are settled while others can be much shorter.

What are the Benefits?

With a debt management plant you can utilise the expertise of leaders in debt management and can rely on a professional and supportive service. Ultimately if you complete the plan, your debt will be cleared and you can be in a position where you are in more control of your finances.

Another advantage is that you may be able to have the interest and charges on your debt frozen. You might also be able to stop your creditors taking leagal action against you such as taking you to court. Not being constantly contacted by your debt collectors will give you peace of mind.

Choosing the right Debt Management Plan provider

Setting up a debt management plan is an important financial commitment. If you are unsure you should seek independent financial advice to make sure it is the right option for you.

Here are some pointers you should consider when choosing a debt management plan:

  • Always research and shop around to make sure that other providers are not offering a better deal. A great way to do this is to compare different product online on sites like this one.
  • Make sure the provider you choose is properly licensed.
  • You should discuss all the options available to you and find a plan that best suits your debt situation.
  • Find out how exactly much it will cost to arrange a plan.
  • You should read all the terms and conditions of the plan and don't be afraid to ask any questions you may have.

Are there any Drawbacks?

For the debt plan to work your debts must still be paid off in full. Unfortunately, not every creditor or debt collector has to agree to the plan and may still insist on immediate repayment of your debt. It is also worth noting that often secure debts, where you have put up an asset used as collateral, are not covered by debt management plans.


Please note that Which Way To Pay South Africa is not authorised to give personal financial advice under the South Africa financial regulations.

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