An unexpected call offering to reduce monthly debt repayments may appeal to older South Africans living on a retirement income. However, accepting the offer could place someone under debt review without their full understanding or consent.
On one hand, the National Credit Regulator (NCR) has repeatedly warned consumers about misleading debt counselling offers and unauthorised enrolments to the public. On the other, according to FNB’s 2026 Retirement Insights Survey findings, 27% of over-60s of lower-to-middle income say they are surprised to still have debt at their age, and it continues to strain their financial freedom.
“Debt is a significant concern for many seniors, which may make quick fix offers especially appealing. Consumers must therefore know the difference between legitimate debt review and predatory practices,” says Patricia Temba, Executive Head of Collections at FNB.
“Debt review is an important protection for people who are genuinely overindebted. It can help restructure repayments. However, nobody should be pressured or misled into a process with such significant consequences.”
Understanding debt review
A registered debt counsellor conducts a financial assessment to determine whether you are over-indebted. If you are, the counsellor informs the credit bureaus and credit providers, then negotiates a repayment plan on your behalf. Before entering debt review, it is important to understand its serious consequences.
| Debt Review Reality | Key Considerations |
| · You will not be able to take out any new debt agreements until your existing debts are settled
· Your credit profile will show that you’re under debt review, which may impact your ability to access new debt until the review is completed
· You will be required to stick to a payment rearrangement as agreed with your credit provider and debt counsellor |
· Costs
Be aware of all fees before entering a programme, including administration fees and any ongoing monthly charges
· Consequences Understand how these steps affect your current and future financial position
· Alternatives Speak to your credit providers first to explore available options |
Before considering debt review, your creditor may be able to offer arrangements suited to your circumstances,” adds Temba. She shares five ways older consumers, and their families can protect themselves from unscrupulous debt review practitioners.
- Be cautious of unexpected debt relief offers
Be careful with unexpected calls, SMSes or WhatsApp messages offering much lower repayments. Some operators falsely present debt review as a savings programme or government benefit. Do not agree to anything during an unexpected call. Ask for the caller’s name and organisation, then end the call. Verify the organisation using contact details you found independently.
- Understand what you’re signing
Debt review is a formal, regulated process. Before applying, ask how repayments will work, what fees you will pay and whether you will still be able to borrow. Read every form carefully, including forms sent through electronic links. Never share your banking password, PIN or one-time PIN (OTP). If anything is unclear, ask for an explanation or involve someone you trust, but make the final decision yourself.
- Verify the debt counsellor
Debt counsellors must be registered with the NCR. Ask for the counsellor’s name and registration number. Check both details on the NCR’s official website: http://www.ncr.org.za. Also verify the counsellor’s contact details independently. Registration alone does not prove that the caller is genuine because scammers may impersonate registered professionals.
- Check your credit profile and accounts
Pay attention to notices about debt review, unfamiliar repayment arrangements and changes to your credit report. If something looks wrong, contact your bank promptly and ask for details of any debt review application. “Families can help by checking suspicious messages or explaining unfamiliar documents, without taking control of an older relative’s financial decisions. Support should reinforce independence,” says Temba.
- Challenge enrolment you didn’t authorise
If you were placed under debt review without your consent, contact your bank and the debt counsellor named on the application. Ask for a copy of the application and proof of your consent. Lodge a complaint with the NCR, and keep records of all calls, emails and reference numbers. Be wary of anyone who promises to remove you from debt review immediately for a fee. Legitimate removal must follow legal requirements, while misleading services may cause further financial loss.
“Don’t assume an unauthorised listing cannot be challenged. Raise it promptly through the appropriate channels and keep a clear record of what happened,” says Temba. Debt review can help people who need it regain financial stability. The aim is not to discourage older consumers from seeking help, but to ensure that every decision is informed, voluntary and right for their circumstances. “Getting help with debt should never mean surrendering control of your finances,” concludes Temba
