Debt-Savvy for Employees

South Africa's leading debt solution for employees.

In today's economic landscape, your employees face more financial uncertainty than ever before. When your employees fall into the debt trap, it impacts negatively on the company's bottom line and overall performance. As a solution to this problem, we have created "Debt-Savvy for Employees", an employee financial wellness service specifically designed to help Human Resource managers to easily solve their employees' debt problems.

We have legal authority to speak to the banks and renegotiate your employees' interest rates and payment terms!

The benefits of our service are:

  • ✅ It's FREE for Corporates
  • ✅ 2x FREE credit check per registered employee per year
  • ✅ Employees get their own Personal Financial Consultant
  • ✅ ️Employees' home and cars are protected by law
  • ✅ Reduce their interest rates down to 0%*
  • ✅ Reset their instalments if they are behind on payments
  • ✅ Up to 12 months unemployment insurance cover
  • ✅ 100% online registration
  • ✅ Credit Clearance Certificate guaranteed, stating that your employee is debt free
  • ✅ Fully Licensed and Regulated by the National Credit Regulator

How It Works

It's easy and only takes 10 minutes!

We will do a presentation at your office to explain everything in detail. Once your business is signed up for the programme, if any of your employees get stuck in the debt trap, the following steps will be taken:

Step 1 of 3

One of our certified Debt-Savvy Financial Consultants will contact your employee at a convenient time to perform a FREE credit check. A credit check is a full list of your debts. Once our Financial Consultant has reviewed the list of debts with your employee, the Financial Consultant will then ask the employee some more basic questions about their finances, such as their income and expenses.

Step 2 of 3

Once the Financial Consultant has a good idea of the employees' financial situation, they will work out what your employee can realistically afford to pay each month to cover their debts. This is called the "Affordability Amount" and it means how much you can truly afford to pay towards your debts each month. We work it out by taking the employees' income minus expenses, and what's left over is their "Affordability Amount". Usually this is less than what the banks are asking for each month, so we have to then negotiate with the banks, which brings us to the final step.

Step 3 of 3

Once we know the employees' Affordability Amount, we will contact ALL their creditors (banks, clothing stores, furniture stores, etcetera) and negotiate with them to accept a lower monthly instalment. This amount will be equal to, or less than, the employees' Affordability Amount. If all the creditors agree with the new payment plan, Debt-Savvy will get the new payment plan signed by the National Consumer Tribunal (NCT) to make it legal and binding. If, however one or more creditors DO NOT agree, then we simply apply to the local magistrates court instead of the NCT. Once the new payment plan is confirmed by the NCT or the judge, the employee will only pay this new reduced single monthly payment (the Affordability Amount) moving forwards. This single reduced payment covers ALL their debts.

At the end of the process, we will issue your employee with a Clearance Certificate, stating they are 100% debt free. At this point they can start making use of credit again if they want to.

Debt-Savvy is a 100% South African debt management firm regulated by the National Credit Regulator (NCRDC2530)

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