In short: If you cannot keep up with a loan, contact your credit provider early, then consider an NCR-registered debt counsellor if you are over-indebted. Debt counselling under the National Credit Act can restructure debts; it is not a payment holiday and you cannot take new credit while flagged. This is general information, not financial or legal advice, and missing a payment is a hardship issue, not a character judgment.
Sources: National Credit Regulator – Debt Counselling; NCR home; Standard Bank – NCA and Debt Review; Nedbank – What to do when you cannot pay your loans.
Talk to the credit provider first
Banks and registered lenders expect you to call when income drops, not after weeks of silence. Ask about a written repayment arrangement, a temporary lower instalment, or whether a consolidation product is even suitable for your case. Keep reference numbers. Nedbank’s consumer guide stresses contacting the provider before you miss a payment, because arrears fees and credit-record damage stack quickly.
If the loan is with a store-credit style provider such as Capfin, use their official contact channels and account tools rather than a social-media “agent”. Related Capfin pages on this site cover statements and eligibility only as product explainers.
Debt counselling (debt review) via the NCR
The NCR explains debt counselling as a National Credit Act relief process for consumers who are over-indebted. An NCR-registered debt counsellor assesses income versus living costs and debt. If you qualify, they negotiate restructuring with credit providers. Restructuring must be confirmed by a Magistrate’s Court order or a National Consumer Tribunal consent order.
- Application uses Form 16; the counsellor notifies providers (Form 17.1) within five business days of accepting you.
- A debt-counselling flag on your credit profile is an indicator that you are under review, not a casual “blacklist” label.
- While under debt counselling you cannot apply for further credit.
- The NCR describes a target of completing application, negotiation and referral within 60 business days, with protection against certain legal steps in that window when the process is followed.
- There is no payment holiday: you must pay as the counsellor advises from the start, either to providers or via an NCR-registered Payment Distribution Agent.
Ask to see the counsellor’s NCR registration certificate and get all fees in writing. NCR call centre: 0860 627 627.
Default notices and legal steps
Credit agreements under the National Credit Act have formal default and enforcement steps. Providers typically remind you first, then may issue a written default notice that proposes referral to a debt counsellor, alternative dispute resolution, a consumer court or an ombud, and gives a short response window before enforcement can proceed. If you receive a summons, get advice immediately. Do not ignore court papers.
What usually does not help
- Taking a new high-cost loan to hide arrears without a written plan.
- Paying an unregistered “debt helper” who asks for your banking OTP.
- Stopping all payment without telling anyone.
Related reading: stop debit orders (only when you have a lawful reason and a plan with the provider), and Capfin statement / qualify guides if that is your credit provider.
Last checked: September 2026 against NCR Debt Counselling pages, Standard Bank NCA / debt review summary, and Nedbank’s cannot-pay-loans guide. Outcomes depend on your contracts and assessments. Not financial or legal advice.