The Basics of Debt Counselling and how it works:

From 1 June 2007, debt counselling services has been available to consumers who are unable to honour in a timely manner, all credit agreements to which they are party, as indicated by the their history of debt repayment.

The Debt Counsellor will notify all Credit Providers and Credit Bureax of the application and then evaluate the Consumer?s indebtedness. If the Debt Counsellor determines that the Consumer is over-indebted, the Counsellor may recommend to the Magistrate's Court that one or more agreements be declared reckless and/or that the Consumers repayments be rearranged. This is done by extending the original contract and decreasing the monthly payments. If the Creditors all agree, this procedure can be voluntary and no court order is necessary.

A Creditor who receives a notice from a Debt Counsellor for debt review MAY NOT ENFORCE the agreement until a determination is made by the Court or Debt Counsellor.

Once under debt counselling, a Consumer may not make any further debt. This is either until all debts have been paid in full and the Debt Counsellor has issued a clearance certificate or the Court decided that the Consumer is NOT OVER-INDEBTED.


It promotes and advances social and economic welfare, promotes fair and accessible credit market and protects consumers.


? right to confidentiality
? right to protection against discrimination
? right to reasons why credit has been refused
? right to plain, understandable language
? right to receive documents
? right to apply for debt review and rearrangement of obligations
? right to cooling-off
? right to statements of account

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Contact Us


Physical address: no 296 Schoeman street, Prime Towers, office 211

2nd floor, Pretoria Cetral, 0001

       Phone: 087 808 9804

       Fax: 086 639 5364

       Cell: 071 236 9988




 Physical address : no 87 commissioner street,                 central Johannesburg 2000, 3rd floor

Phone: 087 808 9778, Cell 072 977 1236


We l c o m e

Are You Drowning In Debt?

Are you struggling with bad debt and can’t afford your monthly repayments? Do you avoid answering your phone in case it’s a creditor harassing you for payments? Have you stopped opening your mail as you know it’s just another lawyer’s letter? Look no further, help is at hand!

Here is the end to your debt nightmare. Have you heard of Debt Counselling? By simply having your debt restructured at affordable repayments over an extended re-payment period you could once again sleep peacefully at night.

Our qualified Debt Counsellors are trained to find a solution for your individual needs to tackle your debt without placing you or your family in jeopardy. Under the advisement of a qualified debt counsellor your debt will be re-structured to allow for the affordable repayment of your debt.


  •   Gets you out of debt without losing any of your assets
  •   Lowers your monthly repayments, only pay what you can afford
  •   You no longer need to deal with “harassing” creditors
  •   Debt counsellors negotiate everything on your behalf
  •   No additional loans required to get out of debt
  •   SAVE your name from being blacklisted

Let one of our qualified Debt Counsellors assist you today, it is that easy to get out of debt. 


A consumer who cannot make regular payments or is in debted to his creditors under the agreement they signed, can apply fordebt counselling. The consumer applies for debt counselling with the help of a debt counsellor or consultant. The Debt Counsellor will explain to the consumer what debt review or debt counselling is, the process and the fees. The consumer completes and signs a debt counselling application form called a Form 16.

Form 16 together with supporting documents is handed over to the debt counsellor or consultant. The consultant will check that the form 16 is completed correctly and all supporting documents have been provided.

The details on the form 16 are captured by the back office admin staff. Within 5 days (normally sooner) all creditors are notified with form 17.1 that consumer is applying for debt counselling. The debt counselling application is now in process. No legal action from creditors is possible. A consumer can still apply for debt counselling if a Section 129 or 130 Notice is issued by creditor If you refuse to include even this then support may be affected.

The debt counselling process takes 60 working days. The creditor has 5 business days to confirm customer account details to debt counsellor. This is checked against what the consumer presented to debt counsellor. After 5 days, the creditor is reminded to give feedback. Another 10 days grace is given to the creditor. If the debt counsellor does not receive conformation from creditors, he may presume that the figure provided by consumer are correct. The debt counsellor will now determine if consumer is over indebt. The debt counsellor will now prepare a debt restructuring proposal to the creditors. The proposal must be sent 25 days from date of application. All creditors have 10 days to respond. If there is no response, the creditors will get a reminder and another 5 days to respond.
The proposal is finalised and will be sent to the Payment Distribution Agency to start the distribution to creditors.

Are you losing sleep over your debt problems? Do you wish you could live a debt-free life while concentrating on more important things than money issues? Would you like to be assisted by professionals who have the relevant expertise?
If you answered yes to these questions, contact Noco Financial Services today to begin your journey towards being debt free.
Noco Financial Services was established by Duncan Masehela in order to alleviate consumers from overbearing debt problems and advise them on budgeting as well as using the protection of the Credit Act.
As a Debt Consolidation Company, Noco Financial Services specialise in providing you with quality Debt Help ServicesFree Debt ReviewDebt Consolidation Options and solid Debt Consolidation, an opportunity to Solve Debt Problems and Consumer Debt Problems, valuable Consumer Debt Advice, Financial Debt Counselling and Debt Consolidation Management.
If you would like to find out more on these quality services and be at the forefront of our valuable advice, do not hesitate to pick up the phone and give us a call or visit our website for more information

Contact Noko Financial Services
Your one-stop for: in debt Consumer, Debt Advice, solving Consumer Debt Problems, Financial Debt Counselling and Debt Consolidation Management