What does Seshottex offer with regards to Debt Counselling?

At Seshottex 680 Pty Ltd, our mission is to provide professional debt counseling & financial advice to financially distressed individuals in South Africa.

We understand that pressure emanating from debt can be huge and when people come to us seeking help they are usually stressed and are simply looking for a solution to end their financial worries.

At Seshottex 680 Pty Ltd, we undertake to provide an effective solution towards a financial fresh start by dealing with your creditors and the courts on your behalf. Dedicated and highly trained client support, legal and debt consultant teams will assist and act with your best interests at every step of the debt elimination process.

In addition, we have debt counselors that are registered and accredited by the National Credit Regulator (NCR), so you can be rest assured that our debt advisory service is confidential, professional and of highest quality.

It is this experience, coupled with our dedication to giving you a compassionate, complete and competent service that sets us apart.

What is Debt Counselling?
It is when a debtor applies to our registered Debt Counsellors to request the rescheduling of his/her debt, as s/he is unable to pay all their obligations under all their credit agreements. It gives a debtor who is over-committed a second chance to repay their debt. Over-indebtedness does not result in the debt being written off, but being restructured.

What can Debt Counselling do for you?

• Peace of mind – once you’re under debt review your creditors can’t take action for 60 working days provided that you make payments as agreed to with your accredited Debt Counsellor.
• Facilitation of the debt review process on your behalf by your own personal accredited Debt Counsellor.
• Reduce your total monthly debt repayment by up to 30%.
• We deal with your creditors on your behalf and come to an agreement with them.
• Allows you to make one payment every month and we distribute your funds to the creditors on your behalf.
• We provide you with frequent and up-to-date feedback via email and SMS.
• We deal with the lawyers and courts on your behalf on matters pertaining to the debt review.
• Ensures that you can access credit in the future once your debt has been paid in full and you have received a Clearance Certificate.
• Extensive negotiating power with credit providers and other stakeholders.

Who can apply for Debt Review?

• Only debtors who are natural persons (individuals).  
• The debt review process is only available to a debtor who is over-indebted and has an income.
• Couples who are married in community of property must apply jointly for debt review.
• Couples who are married out of community of property can apply jointly if they have a joint debt.
• Pensioners can also apply for debt review as pension is an income.

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