about us - Living debt free

Kevin Russell Registered Debt Counsellor
NCR Reg Number NCRDC 384
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Living Debt Free has the wellbeing of the consumer at heart.
When the National Credit Act was promulgated in 2007, it gave birth to the profession of Debt Counselling. The purpose of debt counselling is to address and prevent over-indebtedness of consumers and provide mechanisms for resolving over-indebtedness based on the principle of satisfaction by the consumer of all his financial obligations in a responsible, legal manner.
The first company to take advantage of this newly established industry on the East Rand was.” Why Count cc t/a Living Debt Free”, initiated in 2008 and still owned by Kevin Russell.
Living Debt Free has the wellbeing of the consumer at heart, providing an instrument whereby a consumer's dignity remains intact, and ultimately they may be rehabilitated into the credit

Living Debt Free will use the provisions contained in the National Credit Act to  protect the customer from losing crucial assets and prevent the Credit Providers from taking legal action on accounts that was lawfully included in the debt review. Any consumer can apply for debt counselling, upon which an assessment and financial analysis will be conducted to determine the state and cause of over indebtedness. If a customer is found to be over indebted, Living Debt Free will notify all Creditors and negotiate with them in an effort to get the term of each credit agreement lengthened and/or the payments reduced. The Credit Providers also consent to a reduced interest rate to assist with the restructuring of the debt obligations.
All monthly debt obligations will then be consolidated into one monthly instalment that will cover all obligations in terms of the debt review application.
Once all the Credit Providers concerned with a specific debt review application  agree to the proposed debt rearrangement, Living Debt Free will file an application with the Magistrate's Court to obtain a consent order which will then enforce the agreed debt rearrangement. The consumer will then make one monthly payment according to the debt rearrangement until balances have been settled or if the consumer is able to continue with payments at the original contracted rates and instalments. When an account is settled in terms of the granted court order, that portion of the monthly payment is divided or “cascaded” to the remaining account, accelerating the entire repayment process.More than 29 years in the financial and     debt-counselling industry!
As soon as the consumer has settled all obligations in terms of the debt review, Living Debt Free may issue a clearance certificate, indicating that their customer has discharged all his financial obligations in terms of the Granted Court Order in a responsible manner. The debt review process does not reflect on the consumer’s credit record once the clearance certificate has been issued. The consumer will then revert to a credit worthy status thereafter.

The company, Living Debt Free has a combined experience, between staff and management of more than 29 years in the financial and debt-counselling industry
Besides their broad experience, the company’s management boasts all the required diplomas, certificates and qualifications in their field of expertise. They are also registered correctly in terms of the National Credit Act, and comply with all legal requirements, enabling them to provide this service to consumers. Kevin also serves on the Gauteng branch committee of the Debt Counsellors Association of South Africa (DCASA)

As much as being financially stable is regarded as the most important aspect in business, Living Debt Free’s first and most important goal is to help their customers to be financially independent, understand the reason for budgeting and guiding and coaching them on how to deal with their finances. It is a great achievement for Living Debt Free when they can experience the peace of mind within their customers when amicable arrangements have been made with their creditors and they can now again sleep peacefully.
It is also important for employers to identify employees that are experiencing financial difficulties, this could possibly lead to lost production, accidents, absenteeism and myriad of other problems including health and relationship difficulties. Substance abuse is also prevalent when an employee is under financial stress. If identified early enough, the situation can certainly be remedied successfully. However, procrastination and attempted DIY debt review is the biggest enemy here.

Not only is it crucial in any business operation to provide a solid aftersales service, but in the bad debt counselling field this requirement should be an ongoing way past rehabilitation to provide a proverbial “father” figure should consumers require further couching to avoid landing themselves in similar predicaments again. Living Debt Free seems to be well aware of this requirement as they have the proper after sales procedures in place. Debt Counselling is not a destination; it’s a journey to financial responsibility and financial freedom!! A great need for “financial literacy” has been identified across all spheres of society, this needs to be an on-going process.

Living Debt Free defines professionalism as something every business must present to customers, competition and the regulator of this industry. Many people view professionalism as something that only individuals should practice. However, the concept stretches to all aspects of business in the Living Debt Free operation.
Why Count being a successful business, integrates professionalism into all aspects of its operations, advertising, and customer relations.

Successful companies set goals. Without them, they have no defined purpose and nothing to strive for; consequently, they stagnate and struggle for meaningful accomplishments. That is the motive behind Living Debt Free’s success.
Living Debt Free already has two registered branches, but its short term goal is to expand and register another branch. It also aims to be the preferred debt counselling company with high standards and helping each customer to achieve financial success.
Goals are steppingstones to an end result. They are present in every business plan and are a regular part of ongoing business operations.

Living Debt Free’s biggest, most important and frequent achievement is each time when a clearance certificate gets issued.
Living Debt Free was involved in the survey with the University of Pretoria as well as with the NCR (National Credit Regulator). The main goal of the survey was to identify the impact of credit and to analyse this matter in depth. These studies are done by NCR and the University of Pretoria and being part of these studies, Living Debt Free has full access to the end results and they apply these fact and ideas to their daily practises.
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