Types of Debt can be included in Debt Review


There are two types of DEBT that can be included when you apply for DEBT REVIEW. In terms of DEBT REVIEW, secured debts such as bonds and vehicle finance are given higher priority than unsecured debts.

Unsecured Debt:

These are debts you did not need to secure with an asset when you applied for the credit/finance.

Examples of unsecured debts:

Credit Cards
E.g.: MasterCard, Visa, America Express etc.

Store Cards
E.g.: Edgars, Foschini, Woolworths etc.

Bank Overdrafts

Personal Loans
From Banks and other credit institutions, e.g. African Bank, Bayport

Furniture Accounts
E.g: Game Stores, Russels, House and Home etc

Money borrowed from friends and/or family


Secured Debt:

These are debts that have a security, like your house or vehicle, attached to it which can be repossessed and sold if you are not able to repay the loan.


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