Call:
021 879 5741 Email:
admin@acunion.org.za
Call:
021 879 5741 Email:
admin@acunion.org.za
Struggling Financially?

Low on cash? Skipping payments just to get by? Accounts in arrears? Bad credit? There's a way out!

At African Credit Union, we bridge the gap between creditors and consumers. We work tirelessly to help you clear debts and free up cash, so you can live better financially.

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Who We Are

About African Credit Union

African Credit Union is overseen by seasoned professionals with extensive experience in the Debt Review industry. Our team comprises of registered debt counsellors and skilled operational staff who adhere to rigorous protocols to manage customer processes efficiently. We leverage state-of-the-art Customer Relationship Management Systems, and our legal Partners is fortified by proficient Attorneys. Additionally, we're proud to employ some of the industry's top talent in debt review. Our excellence has not gone unnoticed; we have been nominated and ranked among the Top 10 National Debt Counselling firms. We take immense pride in our capability to execute tasks effectively and are gratified to have thousands of satisfied customers.



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AFRICAN CREDIT UNION HAS BEEN VOTED AS ONE OF THE TOP 10 DEBT REVIEW FIRMS IN SOUTH AFRICA!
What is Debt Counselling?

What is Debt Review?

Debt review is a formal, legal process recognized in South Africa, designed to provide relief to over-indebted individuals. A certified debt counsellor assesses your financial situation, creates a budget for you, and negotiates a manageable, consolidated repayment plan with your creditors. This plan is then ratified through a court order, providing you with legal protection against actions from creditors.

Key Points to Know

Debt Counsellor
A certified individual registered with the NCR(National Credit Regulator) that is evaluates your finances to create a restructured repayment plan with your creditors.
Legal Protection
You receive legal protection against creditors who are barred from reclaiming debts through legal avenues once you're under debt review.
Repayment Plan
Your multiple debts are consolidated into one single, manageable monthly payment.
Credit Report
Your credit profile will reflect that you are under debt review, limiting your ability to secure new credit.
Court Order
A court order is sought to make your newly negotiated repayment plan legally binding.
PROS

Regaining Financial Control

While it may not be suitable for everyone, there are several compelling advantages to consider. Here are some of the key pros of debt review:

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Simplified Payment Structure
Debt review consolidates multiple debts into a single payment, simplifying your financial management.
Reduced Installments
The process often leads to reduced monthly installments, making it easier to manage your financial obligations.
Potential Interest Rate Reduction
Your debt counsellor may negotiate lower interest rates with your creditors.
Legal Protection
You gain immunity from legal actions initiated by creditors as long as you're under debt review and adhere to the agreed-upon payments.
Avoids Sequestration
Debt review serves as a more favorable alternative to bankruptcy, enabling you to retain your assets.
CONS

Understanding the Downsides

While debt review can be a helpful tool for many facing financial challenges, it's essential to consider the potential drawbacks. Here are some of the key cons of debt review

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Limited Access to Credit
You cannot take on new debt, such as loans or credit cards, while under debt review.
Irreversibility
Exiting debt review is challenging and can only be done by either settling all debts or proving in court that you are no longer over-indebted.
Fee Structure
The first two monthly payments after you initiate the debt review process are allocated toward covering the fees for the debt counsellor and the legal cost required to secure a court order. These fees are in compliance with the relevant South African legislation, and creditors are generally aware of this. Importantly, this will not impose an additional financial burden on you for those months; they are integrated into your restructured payment plan.

Contact info

WhatsApp

(063) - 791 0793

Phone

(021) - 879 5741

Email

admin@acunion.org.za

Address

99 Main Rd, Claremont, Cape Town, 7708

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