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Nhlakanipho Ngcobo Debt Review Reference Letter

My name is Nhlakanipho Ngcobo.
Being the only one who had a permanent job in my family meant that I should carry the
responsibility of providing for almost all the financial needs of the family. Above all, it was my
first job from tertiary. Expectations from my family were high.
I was trying to live my own life as well. Before I knew it I found myself having to pay all my
salary towards debt repayment and forced to borrow more and more each month. I found myself
drowning every single month. I owed a total of R150 000. My life was just stand still.
I could not sleep, live a normal life, or think of anything else – it became an all-consuming
I was struggling for several years. In 2011, I remember I was in the process of getting married
when I heard about debt review. My fiancé hooked me up Trevor Armfield from Diverse Debt
Counsellors and he went through the procedure with me. He rescued me because I needed to
have money for wedding preparations. Above all, my finances had to be in order if I wanted to
start my own family.
Trevor then gave me 60 days’ grace in which I did not have to pay any of my creditors, while he
assisted me in applying for debt review. This gave me an opportunity to take a breath, save some
money towards the wedding, and think about what I was doing.
I am fortunate that I was able to come up with a decent amount every month to pay back the
legally agreed upon payment, and slowly started to see my debt come down over the years. To
my surprise, I managed to pay all my creditors in less than 3 years! Trevor then sent a Clearance
Certificate to ITC to update my profile since I am now debt free. It only took a day and the
information was updated on the ITC.
Today I owe my creditors nothing. I am now in a process of buying a house of my dreams and
live there happily with my wife and my son. Apart from paying off my debt I have learnt to
manage my money conservatively, and do not buy anything that I do not need.
Because the debt review process insists that I am not allowed to have credit cards, I do not have
any, nor do I have any store or clothing accounts, and pay CASH for everything.
I will continue to pay cash for everything and will NEVER incur debt again in my life.
This whole process has made me think twice about wasting money and, most of all, my children
will not be responsible for paying off my debt when I die.
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