No. Debt Administration Is a legal debt relief measure, which aims to assist a consumer to pay off his/her debts. If your total debt is less than R50 000, you can apply for debt administration, as this will help you pay off your debts in reduced monthly instalments. The process is governed by Section 74 of the Magistrate’s Court Act and not by the NCA.
Debt Consolidation loan is applicable when you have different debts/loans and therefore apply for a single new loan which will combine all the amounts into one single amount. This new loan will pay off your other debts and you will then only be responsible to pay one monthly instalment for the new loan instead of many different instalments.
Debt Counselling is a debt relief measure available in South Africa provided for in terms of Section 86 of the National Credit Act 34 of 2005 as amended (the NCA). This process is intended to assist over-indebted consumers who are struggling with debts. DebtMap financial experts will guide you through the free financial assessment and explain to you at greater length the benefit of debt counselling as well as how you will be assisted with the clearance of your name