Wealthtec works in debt and credit rehabilitation, which is a regulated space with well known traps. Before you pay anything, check its registration with the National Credit Regulator, because Wealthtec does not publish a registration number on its home page.
Official contact channels
- Telephone: 012 054 5700
- Email: [email protected]
- Website: wealthtec.co.za
What this organisation provides
Wealthtec presents a group of related services: credit score restoration and debt distribution, an advisory service supporting independent financial advisers and their clients, an academy offering financial education, Wealthtec Bonds which uses property equity to settle debt, Wealthtec Life covering beneficiary security, and ResQme which it describes as 24 hour emergency assistance. Its site also carries a debt calculator, a credit score simulator, an affordability calculator and a budget planner.
Address and operating information
No physical address or operating hours are published on the home page, and no National Credit Regulator or financial services provider number is shown there. Be careful with the Bonds product in particular: settling unsecured debt by drawing on the equity in your home converts debt that could not take your house into debt that is secured against it. That can lower your monthly cost while raising what you stand to lose, so read the agreement and take independent advice before signing.
Support and escalation routes
Two things are worth knowing before paying for credit score help. Accurate adverse information cannot be bought off your record: a credit bureau may only remove information that is incorrect, and disputing incorrect information with a bureau is free. You are also entitled to a free credit report from each registered bureau once a year, so obtain and read yours before paying anyone to interpret it. Verify any debt counsellor or credit provider on the National Credit Regulator register of registrants at ncr.org.za before signing or paying a fee, and ask for the registration number in writing. The NCR call centre is 0860 627 627 and complaints go to [email protected]. Advice about a financial product is a separate matter and can go to the FAIS Ombud on 012 762 5000.
Sources
- Wealthtec website with telephone, mailbox and the group service list: wealthtec.co.za
- National Credit Regulator register of registrants for verifying a debt counsellor or credit provider: ncr.org.za/register_of_registrants/