First National Bank

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Take control with the right solution for your needs

If managing your monthly repayments has become challenging, understanding your options is the first step. Debt review can help by combining your debts into a single affordable repayment and providing legal protection, but it also comes with certain restrictions and long-term commitments.

That’s why it’s worth considering all the solutions available to you before making a decision. Review the options below and choose the one that best aligns with your financial goals. If you’d like guidance, we’re here to help.

What to expect if you choose debt review

Debt review can help make your debt more manageable, but it’s important to understand what it means for your finances before you apply.

While you’re under debt review:

  • You won’t be able to take out new credit or access existing credit facilities until the process is completed.
  • You’ll be responsible for the applicable debt review and administration
  • Your credit profile will reflect that you’re under debt review until you’ve completed the programme and received a clearance certificate.
  • The process may take several years, depending on your repayment plan and financial situation

Debt review is a significant financial commitment. Take time to understand how it works, what it means for your future financial flexibility, and whether it’s the right solution for your needs.

“Be cautious of advertisements promising significant discounts on debt repayments without clarifying that they are referring to debt review. While debt review can help manage debt, it has serious implications, such as losing access to credit and incurring upfront fees.”

“Be aware of unsolicited calls and messages promising relief from your debt repayments. If it sounds too good to be true, it often is. Their aim is to persuade you to go under debt review, which comes with upfront fees, and you won’t be able to access any existing or new credit facilities while under debt review.”

What debt review costs — in plain terms

Here’s a simple summary of the main fees. The full legal fee schedule is shown in the table below.

What you pay How much
Application fee (once-off, upfront)

Administration Fee

 R50

R300
Restructuring fee (once-off, taken from your first instalment)

Reckless Lending Fee

 Up to R8 000 cap (excl VAT) – Single Application

R1500 (excl VAT)
Monthly after-care fee (after month 2) 5% of your payment, up to R450 cap (excl VAT)
If your application is rejected R300 (excl VAT)
If you withdraw after restructuring 75% of the restructuring fee, if cancelled before completion
Legal fee for a consent order R500 (excl VAT); Any additional legal fees to be negotiated separately (eg. non-consent court matter)
Payment distribution fee (per payment, per account) R0 – R15 depending on amount

These are the fees set by the National Credit Act. A registered debt counsellor may not charge you more than these amounts. 

What are my options besides debt review?

Debt review is one way to manage debt you’re struggling with — but depending on your situation, another option may suit you better. If your difficulty is temporary, our Life Happens relief may be all you need. Speak to us before you decide:

Option Best when…
FNB Life Happens (temporary relief) Life doesn’t always go according to plan. If you’ve experienced a setback such as a job loss, reduced income or an unexpected change in circumstances, you may qualify for temporary repayment relief or a restructured payment plan.

Our relief options range from 3 months up to 36 months

Apply on the FNB App > nav» Money > Manage my debt.
Payment arrangement You’ve had a temporary setback and need short-term relief on one or more accounts.
Debt consolidation You can still afford to pay, but want to combine multiple debts into one manageable loan.
Debt review If you’re managing several credit commitments and want a simpler way to stay on top of them, consolidating your debt into a single loan could help. You’ll have one monthly repayment to manage, making it easier to budget and plan with confidence.

Not sure which is right for you? Contact us, and we’ll help you understand your options — with no obligation.

Can you withdraw from debt review?

Yes, you may be able to withdraw from debt review, but the impact will depend on where you are in the process, as this is regulated in terms of the withdrawal guidelines issued by the National Credit Regulator.

Before making a decision, it’s important to understand that debt review offers certain protections, and leaving the process could affect your repayment arrangements with credit providers.

Things to consider: 

  • If you’re still in the early stages of the process, withdrawal may be possible
  • If your debt has already been restructured, if possible, a withdrawal fee may apply
  • Once you exit debt review, the protections associated with the process fall away, and your credit providers may resume their normal collections processes.

Because every situation is different, we recommend speaking to your debt counsellor and contacting us to fully understand the implications before proceeding.

www.fnb.co.za