Debt Counseling Process 

Step 1
Contact us as soon as possible. We will send you the application form with a list of the documents and information we require for the process. This can be done via e-mail or fax. 

Step 2
We will notify all your credit providers, the NCR and the credit bureaus of your successful application for debt review. The credit providers will adjust their systems to show you are under debt review. Now that you are under debt review, legal action may not be taken against you in respect of the debts that are under review. 

Step 3
After receiving your application we shall do an assessment to check that whether you are over-indebted ( your monthly debt obligations and living expenses exceed your income). At this stage we will do a credit check and advise if there are any other additional accounts you did not include. If over-indebted we will continue to the next phase. 

Step 4
We will go through your budget and advise on the many areas in your budget where you can save money, which will enable you to pay off your debts in the shortest period possible. 

Step 5
The credit providers are required to send us information regarding your accounts including the outstanding balance, interest rate and the monthly repayment within 5 business days. Once we have this we update all the information into our debt management system. 

Step 6
We will send you the agreed budget which outlines the new calculated amount available to your credit providers as well as the list of creditors included in the debt obligation list. You must go through this carefully. Sign the document and send it back to us. We will give you details of the amount you have to pay, where to pay the amount and on which date. The Payment Distribution Agency (PDA) shall pay the specified amounts to each credit provider. 

Step 7
We will calculate the amounts for each credit provider and will send proposals to each outlining your agreed budget repayment plan for each credit provider. This will reduce your monthly debt repayments to an affordable amount, whilst still having sufficient household living expenses. 

Step 8
The Credit Providers may accept the proposals and if all do, we will obtain a consent order which will then be forwarded to all the credit providers. If one or more of the Credit Providers does not accept the proposed repayment plan, we will submit an application to the magistrate’s court recommending that the debt plan is made a court order. We will appoint a attorney to represent you in court. You don’t have to be present. 

Step 9
You are required to make the agreed monthly payment each month to the Payment Distribution Agency (PDA) for the duration of the debt review. We will provide you with monthly after care and monitor the repayments to all creditors. After 12 months we will review the repayment process or when a credit provider is paid in full. 

Step 10
Once all your debt is repaid, we will issue you with a clearance certificate which we will send to all your credit providers, the NCR and the credit bureaus. Within 5 business days you credit record will be clear. You will be able to apply for credit again. 

  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.

noko debts was established 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, Noko debts 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 debts
Your one-stop for: in debt Consumer, Debt Advice, solving Consumer Debt Problems, Financial Debt Counselling and Debt Consolidation Management

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