Costs of debt counselling
You can expect to pay:
A non-refundable application and administration fee (R350 plus VAT);
Assessment and restructuring fees to a maximum of R9500 plus VAT for an individual application, depending on the size of your monthly repayments;
Legal fees for obtaining the court order; and
Ongoing monthly fees of up to 8% of your repayments, to a maximum of R950 plus VAT.
Matthys Potgieter says it is a myth that you will be expected to pay an upfront fee. He says alarm bells should ring if your debt counsellor asks for money upfront. “There are no upfront fees, because the fees form part of your monthly repayment plan,” he says.