First National Bank

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Financially stressed consumers turn to the Debt Review Process as contained in the National Credit Act 34 of 2005 as a solution to their over-indebtedness. Applying for debt review however, may be a time of uncertainty for many.

Therefore, we have compiled an easy-to-use information pack for you to keep handy and refer to, in a bid to help you through the Debt Review Process.

Please note that this document is for information purposes only and should not be construed as legal advice. Please consult an attorney or other qualified legal practitioner for legal advice.

Our mission at the FNB Debt Review Centre is to assist consumers, who are over indebted, to rehabilitate and return to the normal credit cycle.   We understand that debt review may be daunting however we will guide and assist you all the way.

Contact Us:

Telephone Number:

087 730 1166

Email Address:



What is debt review?

Debt review is a legislated process whereby a consumer approaches a registered debt counsellor for assistance if they experience financial difficulty. The debt counsellor in turn liaises with all the consumer’s credit providers in a bid to facilitate an acceptable repayment arrangement.

How can I find out more about debt review?

Please refer to the ‘How can we help’ icon on the FNB website and view the available brochure which will guide you through the process.

Does FNB offer debt review?

No, the FNB Debt Review Centre does not offer debt review, but rather facilitates the debt review process in conjunction with a consumer’s debt counsellor.

Which debt counsellor does FNB recommend?

FNB does not recommend any specific debt counsellor. It is the consumer’s responsibility to investigate and approach a debt counsellor according to their needs. The National Credit Regulator (NCR) has a list of all registered debt counsellors on their website Alternatively, the NCR may be contacted on telephone number 0860 627 627 for further assistance.

What is the cost for applying for debt review?

The costs as stipulated in the National Credit Act are stipulated below for ease of reference.

Name Pay Amount
1. A debt counsellor may receive the following fees in respect of consumers who have applied for debt counselling:
An application fee, limited to the amount prescribed in terms of Schedule 2(2) of the Act, recoverable directly from the consumer upon receiving an application for debt review;
A rejection fee of R300.00 (excluding VAT) in respect of consumers whose applications have been rejected in terms of section 86(7)(a);
R300 (excl VAT)
A restructuring fee of the lesser of the first instalment of the debt rearrangement plan in respect of a consumer whose applications have been acceptable in terms of 86(7)(b) or 85(7)(c). 100% of the fee is payable at the first instalment.

* Maximum allowable fee for a Single Application (Once off)

* Joint application (once off)

R6 000 (excl VAT)

R6 000 (excl VAT)

Should a debt counsellor fail to submit proposals to credit providers or refer the matter to a Tribunal or Magistrate Court within 60 business days from date of the debt review application the debt counsellor has to refund 100% of the fee paid by the consumer (excluding the application fee).
A monthly after-care fee payable to the debt counsellor to commence in the 2nd month after the amount in 1.3.1 above has been paid.
5% up to a maximum of R400 (excl VAT) for the first 24 months, thereafter reducing to 3% to a maximum of R400 (excl VAT)
Should the consumer withdraw from the process after completing stages 1.3 above, a fee equal to 75% of the restructuring fee as per 1.3 above is payable by the consumer.
1.7 Legal fees A legal fee for a Consent Order of R750. Any additional legal fees to be negotiated separately with the consumer and the debt counsellor must be able to produce pro-forma invoices.

The fees which a payment distribution agent may recover in respect of payment distribution services rendered are as follows:

  • A fee of R5.00 for each payment of between R100.00 and R200.00 distributed in respect of each credit agreement included in the consumer’s debt rearrangement plan;
  • A fee of R10.00 for each payment between R201.00 and R500.00 distributed in respect of each credit agreement included in the consumer’s debt re-arrangement plan;
  • A fee of R15.00 for each payment exceeding R500.00 distributed in respect of each credit agreement included in the consumer’s debt rearrangement plan; and
  • A fee of R3.00 is payable for any additional monthly statement requested by the consumer.

These amounts are inclusive of value added tax (VAT).