Home
Learn
The Debt Review Process
 
Home
For Me
& My Family
For My Business
Corporates + Public Sector
Private
Calculators
Rates + Pricing
About FNB + Legal
Contact Us + Tools
Careers at FNB

Close

Close

Please select

For My Business

< R10m annual turnover

For My Business

> R10m annual turnover

Close

Please select

For My Business

< R10m annual turnover

For My Business

> R10m annual turnover

Close

Close

Daily Banking

Close

Tools

Register Forgot Username or Password Verify payments

Close

Menu

Bank Family & Life stage solutions Events & Services Bank better

Switch to FNB

Product Shop

Financial Solutions

Bank Invest Borrow Insure Connect

Ways to bank

Digital Banking Branch, ATMs + Telephone Banking + @Till Banking Digital Payment Solutions nav»

Invest abroad

Global Solutions

Financial planning

Overview Personal goals Child's education Emergencies Tax free Estate + legacy planning Employee Benefits

Forex

Foreign exchange solutions

eBucks Rewards

eBucks Rewards SLOW

Switch to FNB

Product Shop

Lifestyles

Family Banking Youth accounts FNB EasyPlan Islamic banking Premier Medical Professionals Premier Select Over 55s Encore - Over 55s Retirement

Switch to FNB

Product Shop

Events

Events

Services

DebiCheck and Debit Order Balance Alert Limit Alert LOTTO and PowerBall Prepaid products Soccer six Traffic fines Switching Services inContact Online vouchers Payments and Debit Orders DStv Payments Account Closure Guide

Switch to FNB

Product Shop

Bank better

Learn about banking FNB App guides

Close

Switch to FNB Business

Product shop

By Turnover

First Business Zero (R0 - R5 million p.a) Gold Business (R0 - R5 million p.a) Platinum Business (R5 million - R60 million p.a) Enterprise Business (R60 million - R150 million+ p.a)

Transact

Business Accounts Credit Cards Cash Solutions Merchant Services eWallet Pro Staffing Solutions ATM Solutions Ways to bank Fleet Services Guarantees

Savings and Investments

Save and Invest 3PIM (3rd Party Investment Manager)

Borrow

FNB Cash Advance Overdraft Loans Debtor Finance Leveraged Finance Private Equity Securities Based Lending Selective Invoice Discounting Asset Based Finance Alternative Energy Solutions Commercial Property Finance Fleet Services

Insure

Insurance

For my employees

Staffing Solutions Employee benefits

Forex + Trade

Foreign Exchange Imports and exports Structured Trade + Commodity Finance Business Global Account (CFC account)

Value Adds + Rewards

Connect my business the dti initiatives Enterprise and supplier development Business Hub eBucks Rewards for Business DocTrail™ CIPC Integration Channel Instant Accounting Solutions Instant Payroll Instant Cashflow Instant Invoicing SLOW 24/7 Business Desk FNB Business Fundaba nav» Marketplace Prepaid products Accounting integrations

Industry Expertise

Philanthropy Chinese Business Islamic Banking Agriculture Public Sector Education Healthcare Franchise Motor Dealership Tourism

Going Global

Global Commercial Banking

Financial Planning

Overview

Bank Better

KYC / FICA Debit order + recipient switching Electronic Alerts

Close

Corporates + Public Sector

Corporate Public Sector

Close

Home Loans

Affordability Bond Calculator

Day to day banking

Budget Future Value Credit Cards

Shares

Share Investor

Vehicle Finance

Vehicle Repayment Vehicle Purchase Price

Close

Product Rates

Save and Invest Transactional Savings Legal Practitioners and General Trust Account Global Accounts

Pricing Guide

Overview

Rates

Foreign Exchange Rates Lending Rates

Indicators and Share Price

SA Indicators

Close

News + Insights

Press Office Economics commentary Insights Business Hub

Close

Terms + Conditions

Product Terms and Conditions Promotions Terms and Conditions Legal Matters

About Us

World of FNB

News + Insights

Press Office Economics commentary Insights Business Hub

FNB Subsidiaries

Botswana Lesotho Ghana Namibia Swaziland Zambia Channel Islands

Close

Talk to us + important numbers

Contact us

Fraud + Disputes

Security Centre

Locators

ATM Locator Branch Locator/Book a Branch Visit eWallet GEO Locator

Tools

Switching Services Track and Trace Lead Form Tracking Upload Documents - For Me Upload Documents - For My Business Reporting a death Software Downloads FNB Approved Suppliers FNB Prospective Suppliers Verify Guarantee Verify Statements Verify Payments Verify Account Confirmation/Visa Application Letters eWallet balance enquiry

Close

Careers at FNB

Find out more about careers at FNB Apply here

Close

Close

All savings + investment accounts

Cash deposits

Notice deposits Immediate access Access to a portion Fixed deposits

Share investing

Shares

Tax-free investing

Tax-free accounts

Funds/unit trusts

Ashburton specialised products

Invest abroad

Offshore products

I want to save for

Personal goals Child's education Emergencies Tax-free

Compare similar

Compare

Additional options

Show me all Help me chosse Find an advisor

Financial planning

Overview

Close

Close

What is debt review?

Debt review is a legislated process whereby a consumer approaches a registered debt counsellor for assistance if they experience financial difficulty. The debt counsellor in turn liaises with all the consumer's credit providers in a bid to facilitate an acceptable repayment arrangement.

Close

How can I find out more about debt review?

Please refer to the 'How can we help' icon on the website and view the available brochure which will guide you through the process.

Close

Does FNB offer debt review?

No, the FNB Debt Review Centre does not offer debt review, but rather facilitates the debt review process in conjunction with a consumer's debt counsellor.

Close

Which debt counsellor does FNB recommend?

FNB does not recommend any specific debt counsellor. It is the consumer's responsibility to investigate and approach a debt counsellor according to their needs. The National Credit Regulator (NCR) has a list of all registered debt counsellors on their website http://www.ncr.org.za. Alternatively, the NCR may be contacted on telephone number 0860 627 627 for further assistance.

Close

What is the cost for applying for debt review?

The costs as stipulated in the National Credit Act are stipulated below for ease of reference.

Name Pay Amount
1. A debt counsellor may receive the following fees in respect of consumers who have applied for debt counselling:
1.1
An application fee, limited to the amount prescribed in terms of Schedule 2(2) of the Act, recoverable directly from the consumer upon receiving an application for debt review; 		R50
1.2
A rejection fee of R300.00 (excluding VAT) in respect of consumers whose applications have been rejected in terms of section 86(7)(a); 		R300 (excl VAT)
1.3
A restructuring fee of the lesser of the first instalment of the debt rearrangement plan in respect of a consumer whose applications have been acceptable in terms of 86(7)(b) or 85(7)(c). 100% of the fee is payable at the first instalment.

* Maximum allowable fee for a Single Application (Once off)

* Joint application (once off)

 

R6 000 (excl VAT)

R6 000 (excl VAT)

1.4
Should a debt counsellor fail to submit proposals to credit providers or refer the matter to a Tribunal or Magistrate Court within 60 business days from date of the debt review application the debt counsellor has to refund 100% of the fee paid by the consumer (excluding the application fee). 		100%
1.5
A monthly after-care fee payable to the debt counsellor to commence in the 2nd month after the amount in 1.3.1 above has been paid. 		5% up to a maximum of R400 (excl VAT) for the first 24 months, thereafter reducing to 3% to a maximum of R400 (excl VAT)
1.6
Should the consumer withdraw from the process after completing stages 1.3 above, a fee equal to 75% of the restructuring fee as per 1.3 above is payable by the consumer. 		Yes
1.7 Legal fees A legal fee for a Consent Order of R750. Any additional legal fees to be negotiated separately with the consumer and the debt counsellor must be able to produce pro-forma invoices.

The fees which a payment distribution agent may recover in respect of payment distribution services rendered are as follows:

  • A fee of R5.00 for each payment of between R100.00 and R200.00 distributed in respect of each credit agreement included in the consumer's debt rearrangement plan;
  • A fee of R10.00 for each payment between R201.00 and R500.00 distributed in respect of each credit agreement included in the consumer's debt re-arrangement plan;
  • A fee of R15.00 for each payment exceeding R500.00 distributed in respect of each credit agreement included in the consumer's debt rearrangement plan; and
  • A fee of R3.00 is payable for any additional monthly statement requested by the consumer.
These amounts are inclusive of value added tax (VAT).

Close

Let us help you speak to the right people

The Debt Review Process

Understanding Debt Review

Debt review is a legal process designed to help over-indebted customers regain financial stability by restructuring their debt repayments. It aims to provide a manageable repayment plan that protects customers from legal action by creditors.

Fast facts
Call me back

Fast facts

Your guide to Debt Review: Eligibility, process, and impact

Financially stressed customers turn to the Debt Review Process as contained in the National Credit Act 34 of 2005 as a solution to their over-indebtedness. Entering debt review means you will no longer have access to credit during that time. Take note, you must understand the costs and consequences of any financial assistance programmes promising to reduce your monthly debt repayments.

Who qualifies for Debt Review

  • Customers who are over-indebted and unable to meet their monthly debt obligations.
  • Individuals who have a regular income and can commit to a restructured repayment plan.

Steps to determine if Debt Review is the right option

  • Assess your current financial situation and debt levels.
  • Consult with a registered debt counsellor to evaluate your eligibility.
  • Consider alternative debt relief options and their implications.
  • Decide if debt review aligns with your financial goals and needs.

Additional resources and support services available

  • FNB offers various financial tools and resources to help you manage your debt.
  • Access online calculators and budgeting tools on FNB nav to plan ahead.
 
FAQs

FAQs

Everything you need to know

Know what debt review is all about, the type of assistance on offer, recommendations, acceptable arrangements, and what you can expect to pay.

 
Back to top
First National Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider 1929/001225/06 (NCRCP20).