Greenfern, debt counselling experts

Greenfern has been a breath of fresh in the South African financial markets. With soaring debt levels and millions of people struggling to manage their debt, Greenfern came on the scene to provide a unique solution. Established in 2008, Greenfern promises to reduce clients monthly debt payments by up to 60% without taking on any new loans which are called consolidation loans.

This solution is a preferred one because its processed faster than a debt consolidation loan. These also provide no protection from creditors and blacklisted individuals and those with bad credit are welcome. Greenfern is therefore anchored around the debt review model rather than the debt consolidation one.

Debt review is the preferred model because it takes into consideration all of the consumers accounts and establishes a holistic strategy to get the consumer out of the debt trap. Debt review therefore comes with certain advantages such as it allows for cancellation at any time which is not allowed with consolidation loans, debt review reduces monthly instalments almost immediately while a consolidation loan only increases debts in the long-term, debt review is much faster and offers instant debt relief but a consolidation loan can take up to 3 months to register, debt review also protects clients  legally against creditors and blacklisting,which debt consolidation loans cannot do.

The Greenfern debt counselling fees are regulated by the National Credit Regulator. The clients initial debt counselling fee will be equal to the first reduced instalment to a maximum of R6000 plus VAT. There is also a recurring after-care fee of 5% of the monthly instalment, limited to a maximum of R400 plus VAT for the first 24 months. Thereafter it is reduced to 3% of the monthly installment.

Greenfern can be contacted on 0606790604.