Frequently Asked Questions

Our main objective is to PREVENT you from falling into the Debt Review trap. We do NOT list you under the WARNING section of your ITC Report which is the case with Debt Review. Your spouse does not have to be included as with Debt Review. You may EXIT the program any time which is NOT possible with Debt Review. We work for the CLIENT, YOU, and not for the Creditor who makes demands and has no interest in your financial problems.

No.

This proves that we are NOT Debt Review who must have an NCR number.

Furthermore, we are NOT a Service Provider that requires registration i.t.o the NCA (National Credit Act)

However, all the Service Providers on our panel are duly registered with the relevant authorities, such as

the Attorneys are duly registered with the Legal Practice Council;

the LENDERS are duly registered with the NCR

the Accountant is duly registered as a Tax practitioner with SARS

Experian is a duly registered Credit Bureau etc.

Please note also that the LOANFIX Program is administered under the supervision of the Attorneys on our

panel, meaning that you are in good and safe hands.

Loanfix's approach differs significantly from debt consolidation. We don't offer consolidation loans, where all debts are paid off, and then you repay us. Instead, our focus is on financial rehabilitation. This means after a certain period in our program, you might become eligible for a Rehabilitation Loan from our panel lenders, which you can then use wisely to manage your debts. We believe this approach is more sustainable and empowering in the long run. This furthermore avoids unnecessary costs and interest which is synonymous with consolidation loans.

Our Team of Experts will help to Rebuild your Credit Score so that you can become Creditworthy and qualify for Loans again. In fact, you may qualify for a Booster Loan within the 1st month of registration - Guaranteed. T&C apply. We put money back in your pocket: We assist you to SAVE money; Qualify for loans, PLUS we Rebuild your Credit Score. Click here for more information.

Absolutely. Your financial safety is our top priority. Any money you pay is deposited into a secure Attorney Trust Bank account, which is protected by law and subject to stringent rules. This means your funds are safeguarded, giving you peace of mind.

Repairing a Credit Score is a unique process for each individual, much like your fingerprints. Since everyone's financial situation and Credit History differ, the time frame for Score Fix varies. We can't promise an exact timeline, as we depend on third-party actions, such as credit bureau updates and creditors' responsiveness. What we do guarantee, is our continuous effort every month to Improve your CREDIT SCORE, with regular checks and transparent communication about your progress.

Your caution is understandable and important. Loanfix operates with complete transparency and legal compliance. We do not directly collect money from the public; instead, all payments are securely handled through our panel attorneys' trust accounts, ensuring protection under the Fidelity Fund. Additionally, you receive official credit reports from accredited bureaus, further establishing our credibility. Our registration with CIPC and SARS provides an additional layer of trust and legitimacy.

Protecting your personal information is paramount to us. We adhere strictly to the guidelines set forth in the POPI Act and other legislative provisions. This compliance ensures that your data is handled securely and with utmost confidentiality, maintaining the trust you place in us. Our privacy policy, accessible on our website, outlines these practices in detail.

Click here for our privacy policy

With Loanfix, transparency is key – there are no hidden agendas. We understand the scepticism that often accompanies offers that seem too good to be true. However, our program is designed with your best interests at heart. If you're ready to commit and make some financial adjustments, Loanfix is your comprehensive solution. We are dedicated to serving you, the client, above all else.

We are confident in the quality and effectiveness of our services and believe you will be another one of our MANY satisfied customers. However, should you find that our program doesn't suit your needs, you are free to exit at any stage.  While we cannot offer refunds for services already rendered, we strive to provide value and satisfaction throughout your journey with us. The same Rules that safeguard your funds in the Attorneys Trust Account, results in the impossibility to process refunds in most cases.

We take your concerns seriously. Our dedicated complaints and enquiries department is there to address any issue you might encounter. Additionally, you will be assigned a profile manager, offering you the convenience of direct contact with a person instead of relying solely on online communication. We welcome all feedback, positive or negative, as it drives us to provide the best possible service to our valued clients.

We are aware of these. In all the cases we have requested the complainent to provide us with the relevant info to investigate their complaint in detail, none has been forthcoming in any of these complaints. In the meantime our internal investigations have shown that there are absolutely no merits whatsoever. Being aware of the difficult economical environment and other personal circumstances of our Clients, we do however understand that Consumers get frustrated when they don`t see quick enough progress OR if a telephone call is not answered immediately OR if they still receive calls from Creditors, etc. In most instances the underlying reason for the complainants we investigated relate to unreasonable expectations or otherwise the Breach of the terms of the Loanfix Agreement, i.e not making regular payments, etc. Whatever the underlying reason, we take the allegations seriously and try to identify the root of each complaint and to address same. For instance, if the complaint relates to unreasonable expectations, we address this in our Marketing processes. This is very important as we give preference to Unemployed people when recruiting new Marketers and junior personnel from time to time. In order to get the newbies on par much quicker, we are constantly improving our Training processes and mentorship programmes.  In addition, we are constantly upgrading our Software to eliminate or prevent certain errors.  Furthermore, since we are working in an environment where there are constant changes, we make sure that all our personnel  receive the necessary updates from time to time, i.e. the impact of new Court Reports; amended legislation; Creditor policies; etc. etc. Having said all of the above, we DON`T claim to be perfect as we believe there will always be room for improvement. But we can assure you that our motivated teams are highly competitive and strive to be the best in their respective fields all the time in order to give YOU the best service you deserve. We invite you to come on board and find out for yourself. If you do decide that our LOANFIX Program is the best option for you, we look forward to having you as one of our Valued clients. 

Everyone can AFFORD our services. Why? Because ALL Fees, inclusive of Attorney Fees, are INCLUDED in your SAVINGS Plan. There is even better news: your monthly BOOSTER LOAN will effectively REDUCE your SCORE FIX Instalment. (T`s & C`s apply to the different products). The BEST news is that you may qualify for a REHABILITATION Loan after 12 to 18 months depending on the improvement of your Profile meaning that you will reach the point where you longer have to use your salary to pay your Score Fix Instalment (only available on the PREMIUM Plan) Thus, there are NO out of pocket expenses for any of the products.PLUS: you have 4 different Products to choose form, making it even more AFFORDABLE to all.

Every month, on or before the 7th, you will receive a Distribution Report from us. This report includes ABSA proof of payments, ensuring transparency and keeping you informed about where your money is going.

There may be several reasons for this, i.e new Debt Collector or Collection Attorneys appointed; Account sold to a 3rd Party; we are awaiting info from the Credit Provider to investigate compliance with the NCA; etc. etc. It may furthermore relate to the demands of the REHABILITATION Program. Fixing a Credit Profile is a complicated process that requires specialised Software. Our Team of Experts have developed certain "repair tools" which were build into our LEXEASE Software which drives the REHABILITATION process. One of these "repair tools" include the Forensic Audit process.  During this process it may become necessary to PAUSE payments to a specific Account for reasons such as in duplum investigations; correct allocation of recent payments; awaiting History Statements to ensure compliance with the NCA regarding costs & interest; settlement negotiations; etc. etc. In the meantime all monies NOT distributed are kept in the Client`s REHABILITATION FUND held in the Trust Bank Account of the Attorneys on our panel. If you feel uncomfortable with this, you may switch to a DIY plan where you will make payments to all your Creditors yourself if you follow the DIY Payment Plan.

We don't provide monthly balances as it's not practical and would unnecessarily increase costs. Instead, we focus on monitoring your credit profile with updated ITC reports and ensuring that our strategies are positively impacting your credit score. Our software also considers factors not reflected in creditor statements, like debt-to-income ratios, which are crucial in the score fix process.

Yes, you can choose to exclude certain accounts from our program. In some cases, we might even advise excluding specific accounts if it benefits your overall score fix process.

This is understandable, since there are a few similarities such as Consolidating several Instalments into

ONE AFFORDABLE INSTALMENT.

However, it is the DIFFERENCES between CREDIT REPAIR and DEBT REVIEW that sets us apart:

Click here to find out how we are DIFFERENT from Debt Review.

NO listing under the WARNING section of your ITC Report

ALL DEBT INCLUDED i.e Judgment Debt; Arrear School Fees; etc.

NO COURT ORDER

EXIT ANY TIME

SPOUSE EXCLUDED

REPAIR CREDIT SCORE WITHOUT A COURT ORDER

ACCESS TO BOOSTER LOANS EVERY MONTH - GUARANTEED

ETC. ETC.

No, your spouse does not need to be part of the Loanfix program. This is one of the significant differences between our service and traditional Debt Review programs.

Our Score fix program is designed to accommodate life's unpredictability. In case of emergencies, we offer flexibility in payments. Additionally, the Booster Loan can also be utilized for urgent financial needs.

You can start applying for loans as soon as we help improve your credit to a level where you're eligible for new credit. We guarantee that you will qualify for a Booster Loan every month as part of our program, once your eligibility is confirmed.

First of all, it is important to understand that you can NOT achieve a GOOD Credit Profile without a GOOD Bank Profile.Secondly, we want to put you in CONTROL of your SALARY in order to be able to pay for ALL your Living Expenses every month, i.e. Rental; Groceries; Petrol; School Fees; etc. etc. This will NOT be possible if your Creditors continue with the DEDUCTION of their Instalments from your Bank Account. Changing your Bank account helps ensure a smoother financial management process and prevents potential Cash Flow issues.

NB NB NB NB NB

Please make sure that your policies; Home Loan; Car Loan will be paid from your New Bank.

If our team advises a change in your bank account and you choose not to, unfortunately, we may not be able to assist you effectively. Existing debit orders can complicate the financial management process and might leave you with insufficient funds for your Loanfix instalment or lead to cash flow issues.

At Loanfix, we focus on what you can afford, not what creditors demand. This approach is distinctly different from Debt Review or Mediation, where creditors often demand minimum amounts. If you can afford to increase your instalment, it will expedite the score fix process. Our Booster Loan is structured to assist you in this regard.

Only if you have a Clearance Certificate to prove that you have paid up ALL your Debt Review Debt. If you don`t have a Clearance Certificate, the Attorneys on our panel will advice. If you have not paid up all your Debt Review Debt, the NCR currently distinguish between 2 scenario`s, namely: 

i) Court Order issued by a Magistrate`s Court 

ii) No Court Order Unfortunately we don`t have Service Providers who can assist in the latter 2 instances. 

WARNING: Be careful for scammers who make promises that they can quickly remove you.

According to the law, once our panel of attorneys notify your creditors of your enrollment in our SCORE FIX PROGRAM, debt collectors, collection attorneys, and sheriffs should not contact you. If you continue to receive calls, we will take appropriate action, including reporting the matter to the relevant Ombudsman.

Only to tell them:  don`t speak to me, speak to my LAWYER.

We are NOT money lenders and therefore do NOT offer Consolidation loans. However, we FIX YOUR CREDIT SCORE so that you can start qualifying for loans. Click here to learn why our Loanfix product is better than a Consolidation Loan. You may, however, qualify for a REHABILITATION LOAN with one of the LENDERS on our panel after 12 to 18 months on the program, the proceeds which can be used to do ad hoc Consolidation.

Garnishee debt is included in your rehabilitation plan. Our panel attorneys will assess each garnishee order and advise on the best course of action. We aim to handle these matters in a way that aligns with your financial wellbeing.

Payroll loans, being part of a tri-party agreement, are treated as an employee benefit in our program. We leverage this benefit to your advantage, ensuring that it contributes positively to your financial rehabilitation.

We have a strict company policy against charging deposits. You can be assured that we will never ask you for a deposit, reflecting our commitment to transparency and client trust.

Unlike Debt Review, you have the freedom to EXIT our program at any point, even before all your debt is fully paid. This flexibility is one of the key benefits of choosing Loanfix.

There’s no mandatory duration for staying in our program. You can exit anytime without penalty. However, we recommend staying until your credit score has improved enough to meet lenders' qualification requirements.

Yes, our program is designed to help you manage payments for crucial assets like your house and car. We aim to ensure that you can afford these essential instalments.

The Attorneys on our panel will inform your Creditors accordingly upon receipt of your Retrenchment letter if you were retrenched. In order to protect you against the harsh consequences of Retrenchment, you have the option to take out Credit Insurance Cover. The Service Providers on our panel can assist in this regard.

Yes, our program offers unique benefits like Booster Loans and Rehabilitation Loans, specially designed for Loanfix clients. Additionally, you will have access to free will and estate planning services provided by our panel of attorneys.

Most estate agents accept written motivations from our panel of attorneys, making it easier for you to qualify for rental accommodation. This is a significant advantage compared to Debt Review, where you might face automatic disqualification from rental agencies.

No, we strictly maintain your privacy and confidentiality. We will not disclose any information to third parties, including your employer; spouse or partner without your written consent. Your personal information is also protected under POPI rules and our privacy policy.

We encourage our clients to make extra payments whenever they can afford to do so, as it accelerates the Score Fix process. We advise that any extra payments be made into your Rehabilitation Fund, ensuring you get the best value for your money and contribute effectively towards your financial recovery.

The DIY option has different benefits compared to the Cash Flow Boost and Premium packages. However, you can upgrade to the premium package at any time to enjoy its full range of services and benefits.

The 1st or 2nd Month depending which SCORE FIX PLAN you choose.

PLUS:  we have to proof to the LENDERS on our panel that you can AFFORD a NEW Loan.

The Amount depends on the RISK Profile set out on your ITC and your AFFORDABILITY. The LENDERS will "test the water" first, normally your 1st Booster Loan will vary between R500 and R2000 and will grow exponentially with the improvement of your Credit Score.

Also remember that you have a DOUBLE Cash Flow injection in that:

you SAVE on your ITC Instalments

Plus you have access to the CASH of the BOOSTER LOAN

PLUS:

If you are on the PREMIUM Plan you may furthermore qualify for a REHABILITATION loan after 12 to 18 months on the Program. The Amount of this Loan will be equal to your Score Fix Instalment, meaning that you will have your full SALARY to yourself. (T`s & C`s apply)

Normally after receipt of your 2nd SCORE FIX INSTALMENT. Why? Because we apply for Information from your Creditors or their Collection Attorneys or Debt Collectors for purposes of our FORENSIC Audits, which can take anything between 3 to 6 weeks.  This is very NB as we have to determine whether there have been compliance with the NCA (National Credit Act) and/or Regulations, i.e pertaining the in duplum Rule. It may also be that the Account was SOLD to a 3rd Party in the meantime and we are awaiting Account information from the New Owner of the Account. However, in some instances we have to make payments from the 1st Instalment, i.e to prevent the issue of SUMMONS; etc. Please also remember that the FEES, including Attorney Fees, are collected from the 1st and 2nd Score Fix Instalments. In this regard we again reiterate that you DON`T have to pay extra for COSTS nor are you required to pay a DEPOSIT.