Debt Counselling vs. Debt Review: What's the Difference?

Debt can sometimes become so overwhelming that people are unsure which direction to take. Debt counselling and debt review sound similar but differ in important ways.

Debt Counselling

Debt counselling is a process where a registered debt counsellor works with creditors to establish more affordable repayment arrangements.

• Negotiation with creditors about interest rate reductions.
• Fixed monthly payments for better budget planning.
• Goal: achieve debt-free status without incurring additional debt.

Debt Review

Debt review is a legal procedure requiring court orders, typically managed by designated agents.

• Consolidation of all debts into a single affordable monthly payment.
• Enhanced creditor protection through legal action prevention.
• Goal: similar to debt counselling, but with formal court process.

Which Option is Best for You?

There is no one-size-fits-all answer – individual circumstances determine the appropriate option. Factors to consider include the extent of your debt, your income level and your goals.

AfriSkuld's Support Role

AfriSkuld positions itself as a trusted partner offering guidance through both options. Our financial experts can help you determine which path best suits your situation. Contact us for a free, obligation-free consultation.