164. Drowning in Debt, Here’s The Lifeline

Contact Chantelle: 

chantelle@ssdebtcounsellors.co.za

https://ssdebtcounsellors.co.za/

071 641 8088

Feeling crushed by bills and constant calls from creditors? We sit down with Chantelle, a seasoned debt counsellor, to map a clear path from panic to plan. She explains how debt review can pause the noise, replace many chaotic payments with one structured instalment, and offer legal protection so you can run your home without fear. We dig into the mechanics: negotiating lower interest rates, adjusting terms without hiding costs, and making sure a court-approved budget leaves room for essentials like food, transport, and school needs.

We’re candid about the trade-offs. Under debt review, you cannot take on new credit—an intentional reset that pushes you to live on cash and rebuild healthy habits. Chantelle breaks the myth that you can choose which accounts go in; it’s all or nothing to seal the leaks and end the cycle. We also talk timelines: while some terms extend, consistent payments and reduced interest can still shorten your overall journey compared to revolving debt that never ends.

Not everyone needs formal counselling, and that honesty matters. Chantelle often helps people spot simpler moves: cutting unused subscriptions, downgrading cover, renegotiating a stubborn store card, or stretching a term with a creditor. The initial assessment is free, and fees only apply if you proceed with review, built into your monthly instalment. If you’re overwhelmed, start by gathering every statement, listing debit orders, and being frank about real household costs. From there, a plan emerges—steady, practical, and free of shame.

We close with encouragement and next steps for South Africans searching for debt relief, credit repair, and financial stability. Subscribe for more conversations that turn money stress into clear actions, and share this episode with someone who needs a lifeline today. If it helped you, leave a review and tell us your biggest question about starting the process.

Transcript

SPEAKER_02 0:12

Hello everybody, welcome to Know Your Money. I'm Bronwin Wayner.

What Debt Review Actually Does

SPEAKER_00 0:16

And I'm Craig Finch, and we are from Growth Financial Planning. We hope you enjoy our podcast. Hello, Chantal. Great to have you back, helping us understand what debt review is and what role you play. Hello, Bron, how are you doing?

SPEAKER_03 0:31

Good, thanks, and you?

Single Payment And Legal Protection

SPEAKER_00 0:33

Last episode, I was I would like to have asked you two questions if you don't mind. So the one is that if a client is under debt and they are feel desperate, they don't know where to go, they will come to you and you help them restructure their debt, and you will go to the different institutions and you will negotiate the debt payment plan and you will consolidate the debt into one amount. Is that correct? Yeah. Once they have that one once they've engaged with you and you've negotiated with the different companies, banks, credit card people, etc., they pay you, they pay across to that one account, and that account gets managed by you to pay the different people that they owe the money to. In that situation, am I right in saying they are now protected against those other institutions from actually intimidating them?

SPEAKER_01 1:36

That is correct. The client is totally protected.

No New Credit And Mindset Shift

SPEAKER_00 1:40

Okay, they don't have to worry about, they just say, right, every month I'm paying into that account and my debt is now taken care of. But on the other hand, I can't incur any other debt because I'm under this process, and everything I do from now on going forward, I must pay cash. Is that correct?

SPEAKER_01 2:02

That is correct. One must also remind the client that this process and the steps and why they are reaching out for help is because they can't afford more debt. So you have to retrain your brain to live without debt and not there's no more retail therapy, there's no more um spontaneous expenses, it is really difficult, and you have to support clients to help them to understand that for a while this is what I have. Yes, and it will be more than sufficient to run your households. The courts are very strict with us as pet counselors to make sure that households have sufficient funds to run.

SPEAKER_00 2:56

Do you um negotiate maybe a better rate, a better interest rate for the client?

SPEAKER_01 3:02

Yes, we do. On each and every uh account that they they can't choose which accounts go under debt review or not. It's everything or nothing.

SPEAKER_00 3:14

Everything.

First Steps And Fees Explained

SPEAKER_01 3:14

You're drowning. You know, debt review, it's it's not a burden, it's life support. And yes, we to reduce the instalments, we do renegotiate better interest rates, shit. We need to your term does get a little bit longer on certain accounts, but with a domino effect at the end of the day, you do repay all your debt in a shorter term than continuing to live in debt and it never stops.

SPEAKER_03 3:50

And Chantel, if we have a few people that are listening and they feel like they they could be there and they are drowning a little bit, what do you suggest their next steps are or what is the the easiest thing for them to go and do to help them get out of this?

Alternatives To Debt Review And Support

SPEAKER_01 4:09

You know, you must remember that as estate counselors, we're not focused on putting every single person under debt counselling. My focus is to get people to, with help, restructure their debt. We do have clients that contact us, and I do invite people, if they listen, to contact us, um just to look at their finances. Because sometimes when you're in such a desperate state, you can't think clearly about certain things. Your mind just puts a block to it. It's natural, it's human. That's how we are made. And then we will do look at their debt. And sometimes we advise and say, sorry, do you charge for that? No. Our fee is a small percentage of your debt review instalment, should you decide this is what you're gonna do. It's very small, it's not big. Okay. But we I I do help clients that will send me the information, and I do look at their financial situation with a different eye, and I will make suggestions. And so I suggest there, I suggest there, if you look at the bigger picture and then think about it, and then it's in their hands to maybe renegotiate with the creditor a longer term, or this or that. Not everybody goes under debt review. There is a way out of this with support and knowledge for somebody that's knowledgeable on how certain creditors will act, because not everybody is so kind.

SPEAKER_00 5:46

No, I'm sure.

SPEAKER_03 5:48

Amazing, thank you, and thank you for the work you do. I think a lot of people do need it.

SPEAKER_00 5:53

And Chantel, thank you so much. Thank you so much for having me. Keep up the good work, keep helping people. Thank you.

SPEAKER_01 6:01

Thank you so much for having me again, and then also thank you so much for putting out there to people that feel that they're in a desperate situation that there's a lifeline.

SPEAKER_00 6:12

You can, yes, thank you so much.

SPEAKER_01 6:13

You're not alone. We're there for you. No judgment.

SPEAKER_00 6:16

Thank you. Exactly.

Closing Thanks And Listener CTA

SPEAKER_01 6:19

Thank you so much.

SPEAKER_00 6:20

Thank you for listening. If you have enjoyed this podcast, would like to subscribe, please visit our website www.growthfp.co.za. The information we have provided in this podcast is our personal opinion. For more detailed information, please discuss your financial situation with a financial planner.