Frequently Asked Questions

Will I be blacklisted?

With FinFix you will not be blacklisted. We can assist in improving your credit rating and clearing your credit profile upon the last repayment.

How much are your fees?

Fees are included in your reduced monthly payment, based on your total debt amount. There are no upfront costs. We provide a free, obligation-free assessment and quote, with specialists available for any questions. Our fees are regulated by the National Credit Regulator.

How long before I am debt-free?

We're committed to helping our clients become debt-free as quickly as possible. Your repayment period will vary based on your outstanding debt and what you can afford to pay. During our assessment, we can provide you with an estimated timeline for repayment. Find out here.

Do I need an income?

A stable income is essential to qualify for our services. If you're self-employed or receiving allowances, you're also welcome to apply.

Are you registered?

FinFix boasts a team of skilled and registered debt counselors & legal professionals to guide you through your journey to becoming debt-free. Registration Number: (NCRDC3062)

How much interest will I be paying?

We negotiate reduced interest rates on all of your accounts. You can look forward to paying reduced interest rates on most, if not all, of your accounts.

How do I know if I qualify?

If you're having difficulty managing your debt repayments, you're likely a good candidate for our services. Get in touch with our team for a free assessment and start your journey to financial freedom. Get Started Today.

Why choose FinFix?

FinFix is committed to delivering top-notch service. We treat each client's debt situation with expert care and diligence, all at an affordable rate. Get Started Today.

What types of debt can FinFix help me with?

FinFix can assist with the following common types of debt: Credit Card Debt, Unsecured Loans, Secured Loans (like home loans or vehicle finance), Store Cards, Overdrafts, Short-Term or Payday Loans. This list is not exhaustive, and our team is committed to helping you as much as legally possible.

Can I make early payments to clear my debt faster?

A consumer who is under debt review has the option to make larger payments or settle accounts early to expedite the debt counseling process with FinFix.

What happens when I completed the process?

Once you’ve successfully completed the debt review process, FinFix will issue a Clearance Certificate (Form 19) to credit bureaus and your creditors. This removes the "under debt review" status from your credit record, offering you a clean slate. Maintaining good financial habits ought to boost your credit score, enabling you to qualify for new lines of credit on standard terms. Ready to become debt-free?

What happens if I don’t complete the process?

If you exit the debt counseling process early or fail to make agreed-upon payments, you'll lose legal protection, opening the door for creditors to take legal action against you. Your credit score will continue to suffer, and the "under debt review" status will remain on your record until all debts are cleared. Failure to complete the process could also lead to asset repossession for secured debts like home loans or car finance. Meanwhile, your existing debts will continue to accrue interest, likely at higher rates, exacerbating your financial strain. Remember, creditors are generally not forgiving with third chances.

How long after entering the process, will I experience relief?

You'll feel the immediate relief that comes with Debt Review. We'll create an affordable preliminary repayment plan for you. Under this plan, you'll make a single reduced monthly payment to a Payment Distribution Agency (PDA), which will then allocate the funds according to your plan. Get Started Today.

Did we answer all your questions?

No? Click here to speak to one of our experts, who will be able to provide you with more information.

Will my credit score change?

When you apply for debt restructuring, your credit score may decrease initially because your accounts will be marked as 'negotiation'. However, by sticking to your restructured payment plan, you build a positive payment history that can increase your credit score over time.

What if I miss payments?

Defaulting on payments can  lead to a lower credit score, legal action by credit providers, accruing interest, collateral repossession by creditors, debt collection agencies, and possible court judgment. It is imperative to stick to the payment plan.

What is asset forfeiture?

Asset forfeiture is taking property or assets when defaulting on secured loans.

What are my debt review rights?

Rights include applying for debt review, protection from legal action, a fair assessment, a restructured payment plan, clear communication, exiting upon meeting obligations, asset protection, and regulated fees. Read more on the official website of the NCR.

What's the difference between secured and unsecured debt?

Secured debt is like getting a loan with a safety net for the lender. You offer something valuable you own, like your house or car, as collateral. This means if you can't pay back the loan, the lender can take this item. Because there's less risk for the lender, they usually charge you less interest.


Unsecured debt is different. It doesn't involve any collateral. Instead, the lender decides if they'll lend you money based on your financial history and trustworthiness, known as your creditworthiness. However, because the lender doesn't have a safety net (like your house or car to take if you don't pay), they usually charge higher interest rates. If you can't pay back an unsecured loan, you won't immediately lose a specific asset, but there can be serious legal consequences, and it will harm your credit score.

Am I protected during the process?

Yes, under the National Credit Act, which ensures responsible lending, regulated fees, and mechanisms for dispute resolution. For more information, click here.

How can I improve my credit score?

By making timely payments, limiting credit inquiries from credit providers, regular monitoring of your credit score, seeking professional counselling, and staying informed.

What rights do I have against loan sharks?

Consumers should be aware of their right to transparent lending practices.. Always prioritise engaging with verified lenders and consider services like debt counselling with FinFix to protect against unscrupulous lending practices.

16.01.2024

All Rights Reserved Ⓒ 2022 | FinFix Shared Services (Pty) Ltd trading as FinFix is registered with the NCR (NCRDC3062).

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Privacy policy / POPIA compliant. FinFix will not share any information with any unauthorized parties nor use the information supplied by consumers other than the intended purpose. Consumers who supply FinFix consultants with personal identification information consent and authorise FinFix to obtain said consumers full credit record from any/all registered credit bureaus and any other registers that may contain any of users credit information. Consumers also authorise FinFix to store their credit and account information in their system for as long as it may be necessary, in order to perform the functions as envisioned through Section 86 of the National Credit Act.