Do’s and Don’ts while under Debt Review

You have made the informed decision to go under debt review. Your debt counsellor has informed your creditors and the credit bureaus that their client (you) are in the process of Debt Review. He will assists you in setting up an interim repayment plan. This would then be sent to the registered PDA (Payment Distribution Agency). While you are under debt review you are legally protected against your creditors. Basically, Cyber Finance (your debt counselling company) stands between you and your creditors.
So now that everything is in place, you will be able to start paying your agreed monthly payments. What are the Do’s and Don’ts while under debt review?

Don’ts while under debt review.

While you are under debt review, it is very important not to skip on your agreed monthly payments. You end up putting your debt review process at risk and it can lead to your creditors cancelling the debt review agreement. This leaves you open and exposed to your creditors, who then can take action against you. You will thus lose your protection.

Don’t attempt to make new debt. The debt review process is designed to get you OUT of debt and not INTO debt for your own benefit. New creditors will do an ITC check. This will result in a worse credit score. You will also not be able to follow through on your agreed monthly payment. Making the wrong decisions now would affect your entire process of becoming debt free.

Do’s while under debt review.

It is important to learn how to save money as much as possible while under debt review. A good way of doing this is using a Spending Tracker App. This is a good way of seeing where you can cut some unnecessary spending, and in the end put some money back in your pocket.

Click here to read our article of the 5 Apps to help you track your spending.

It goes without saying, but make sure your monthly payment is made every month. The good thing about debt review is that once your debt is payed off, you are no longer over-indebted! At this stage you will be issued a certificate that clears your name and shows that you are no longer under debt review. You are now credit worthy.

speak to one of our professional financial advisers today for a obligation free assessment.

What about after Debt review.

We are always talking about what to do before and while under debt review, but what about after you complete the process successfully and you are now free of any debt?

We like to provide our clients with a full customer service. So here are a few quick things to keep in mind after you have gone through the debt review program.

  • Open a savings account.

If you haven’t been able to save money while you were under debt review. Now is a good time, as it is never too late to start saving money. Take the money you used to pay monthly towards your debt and pay it into a Savings Account every month. It’s always good to be able to plan for a nice holiday or buying something special. On top of that, you are already used to making the payment every month so is should just as easy to put that money into a savings account.

  • Don’t fall back into debt.

You are now able to make new debt after being under debt review, but be careful not to fall in the same cycle. Make better decisions when it comes to debt. Don’t make unnecessary loans. Rather save if there is something you want. It will be more rewarding to know you made a healthy financial decision at the end of the day. Try to only make debt when it comes with added benefits to you. Think in lines of secure debt like a home loan that you can get proper value back on your investment.

  • Stay away from loans with an interest rate of higher than 14% per annum.

A different way of putting it is. When you are going to make new debt, don’t make unnecessary debt for consumption. Thinks like personal loans and unsecured debt, these will only damage your newly built credit record. In most cases if you make “good debt” or secure debt, the interest rate would be lower than 14%. Make sure you are able to afford the monthly payments of all your debt combined. A good ratio is that your debt should not be more that 25% of your total net income.


While under debt review, you will face challenges to clear your debt. By following these few Do’s and Don’ts, the process will be over before you know it and you will be able to provide a better future for you and your family.

Debt Review was introduced to help struggling South Africans like you. But if you do not look after your finances and spending habits, you will get stuck in a very ruthless cycle of debt. We at Cyber Finance are at our heart a company that is here to help every South African achieve their dreams and to build a better financial future for all.

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