Octogen debt review

Octogen describes itself as a financial wellbeing and debt counselling company. Its main service is debt review. It also lists a free credit check and plan, a Budget Repair Service (financial coaching) and corporate packages for employers.

It is not a lender, so it does not give loans. Octogen says it cannot help someone who is unemployed, because a repayment proposal needs a regular income.

• Octogen states it has over 20 years of experience helping South Africans get debt-free. (octogen.co.za)
• Octogen states its debt counsellors are registered with the NCR and DCASA and have signed the Industry Code of Conduct. (octogen.co.za)
• The NCR register of debt counsellors lists an individual counsellor trading as Octogen at 267 West Avenue, Centurion with final registration date 10/15/2007 (NCRDC136). (ncr.org.za)
• The NCR register lists a further individual counsellor trading as Octogen registered on 07/02/2026 (NCRDC4700), so the firm is still registering counsellors. (ncr.org.za)
• Octogen says how long you stay under debt review depends on the money you have available to pay creditors. (octogen.co.za)
• Octogen says that once all unsecured debt including your vehicle is settled you can exit debt review and repay your home loan, and you still receive a Clearance Certificate. (octogen.co.za)
• Octogen says it cannot assist a consumer who is unemployed, because a repayment proposal needs a regular income. (octogen.co.za)
• Octogen says it issues the Form 17.1 to credit providers and bureaus within five business days of accepting the application. (octogen.co.za)
• My Debt Doctor (Pty) Ltd, a subsidiary of Octogen, is registered with the NCR as an alternative dispute resolution agent. (octogen.co.za)

Fees as Octogen states them on its own website on 30 September 2026. Debt counselling fees are capped by the National Credit Regulator's fee guideline, and the counsellor must give you the fees in writing before you sign.

Sources: octogen.co.za, octogen.co.za, octogen.co.za.

Checked on 30 September 2026 against Octogen's official website. Before you sign anything with a debt help firm, confirm the debt counsellor's registration with the National Credit Regulator, and never pay a "removal" or "clearance" fee to someone who contacts you out of the blue.

Sources: privacypolicies.com, octogen.co.za, octogen.co.za.

Debt review follows the same legal steps at every counsellor.

1. You apply on Form 16 with your documents, such as a salary slip and your outstanding balances. Form 16 warns that documents not submitted within 10 days of the application being received mean it will not be accepted.
2. The counsellor checks whether you are over-indebted. If you are, the counsellor tells your credit providers and the credit bureaus within five business days and sends the credit providers a repayment proposal.
3. The application, negotiation and referral to the Magistrate's Court or the National Consumer Tribunal must be completed within 60 business days of the date you applied. If all credit providers accept, the Tribunal can issue a consent order. If one or more decline, the matter goes to the Magistrate's Court.
4. You pay the agreed monthly amount, usually through a payment distribution agent (PDA) registered with the NCR. The NCR says you may pay your credit providers directly instead.

During those 60 business days you are protected against legal action such as repossession and default judgment. Never give your counsellor money meant for your credit providers. More detail: the debt review process step by step.

Octogen does not publish rand amounts on its website. It says you will not pay any fees upfront, that fees are included in your monthly debt review repayment, and that any fees that can be levied are shown on your Form 16. The fees it lists are an application and administrative fee, a restructuring fee, a reckless credit investigation fee (only when necessary), a legal fee, and a monthly payment distribution agency and aftercare fee.

The NCR fee guideline sets out the amounts and the timing:

The distributable amount is what is payable to your credit providers under the first repayment plan. Attorney fees are not fixed: they are agreed with the attorney and given to you in writing. Ask for a receipt when you pay the application and administration fees.

Octogen's statement that nothing is paid upfront does not match the NCR list on its face, which puts R50 and R300 upfront. Ask Octogen in writing which fees it takes, when it takes them and from what, and keep every receipt. All applicable fees must be disclosed to you in writing before you sign.

• Debt review does not cancel debt. The NCR says it is not a savings plan, and lower monthly payments can mean it takes you longer to pay off what you owe.
• You cannot apply for new credit while you are under debt review.
• Your credit record carries a debt review flag. The NCR says the flag is not a blacklisting, but credit providers must keep reporting your payment history, so keep paying as agreed.
• There is no payment holiday. If you default, a credit provider can give notice to terminate the review on that agreement, but only at least 60 business days after you applied.
• Octogen says how long you stay under debt review depends on the money you have available for your creditors each month. Ask for the projected term in writing.

You cannot withdraw once you have applied. Since Van Vuuren v Roets (2019) and the NCR withdrawal guidelines that took effect on 7 March 2022, no process lets you withdraw, and no court can rescind a debt review order.

The way out is a clearance certificate under section 71. You qualify when all the debts in the plan are paid, or when all your short-term debts are paid (vehicle finance, credit and store cards and loans count) and the only debt left is a home loan that is up to date under the order. The counsellor must issue the certificate within seven days after that. If it is refused, you can ask the Tribunal to review the decision.

The narrow exceptions are a magistrate finding you not over-indebted before an order is made, and a sequestration or liquidation order. You can also transfer to another debt counsellor at any stage without giving a reason. Never pay anyone who offers to remove you from debt review: under section 126A(3), NCR Circular 2 of 2025 says such firms may not be paid until the service has been performed. Read the clearance certificate guide.

Complain about a debt counsellor to the National Credit Regulator (NCR) at [email protected] or on 0860 627 627. Complaints about a credit provider, or about a credit bureau listing, go to the National Financial Ombud (NFO), which took over the Credit Ombud on 1 March 2024. The NFO is free: 0860 800 900. It does not list debt counsellors, so a complaint about how Octogen handled your case belongs with the NCR.