No, checking your credit report on the platform will not affect your credit score.

There are two types of credit checks: hard checks and soft checks. Hard checks are performed by credit providers when you apply for credit, and they can impact your score as they leave a record on your credit profile.

Soft checks, on the other hand, are when you check your own credit report for personal use. These do not leave an enquiry on your profile and have no effect on your score. The credit check done through the platform is a soft check, meaning it’s completely safe and will not impact your credit rating.

As part of our solution, we provide you with an in-depth comprehensive view of your personal financial situation. This includes an overview of your credit score and report and your debt history. When registering on the platform, we retrieve your credit information from a credit bureau to show you this picture on your dashboard. For that, we will need your ID number.

Our financial wellness solution is specifically designed to help over-indebted employees. We don’t base our decision solely on your credit score because the purpose of the rehabilitation loan is to help settle your outstanding debt and improve your credit record. However, to manage our risk as a responsible credit provider and ensure affordability, loan instalments are deducted directly from your salary. This method ensures consistent repayment and allows us to offer assistance where others might not.

No. The instalment for your rehabilitation loan and a garnishee order is not the same thing. A garnishee order is a court-ordered deduction from an employee's salary to pay off a debt, while loan instalment payroll deduction is a voluntary arrangement for repaying a loan directly from one's salary.

Each credit bureau uses its own scoring model and criteria to calculate your credit score. This means your score can vary depending on which bureau you check. For example, you might have a score of 500 at CPB and 450 at XDS—not because your credit history is different, but because each bureau has its own method, score bands, and data sources.

This is a free assessment we offer to give you an overview of your current financial situation, provide you with solutions on how to improve it, and give you an idea of what your financial situation could look like.

No, you won’t be required to pay any upfront fees. All costs associated with the rehabilitation loan—including any fees for removing or withdrawing negative listings from your credit report—are included in the total loan amount. This means you can access the assistance you need without having to make any payments upfront.

It is also important to remember that a Welltec agent wil never ask you to pay money into a company account before you are assisted with a product or a query.

No, the new loan will not be the same amount as your original debt. As part of the rehabilitation process, we negotiate favourable discounts with your credit providers, which reduces the outstanding balance. This means the new loan amount will be lower than your original debt.

There are multiple ways you can submit your documentation:

• Email: Send them directly to the agent assisting you.
• WhatsApp Chatbot: Message us on 068 604 5014 and select option 3, “Upload Supporting Documents,” then follow the prompts. (Please note that this option will only be available if you are registered on our system with the number you use for WhatsApp)
• Facebook: You can send your supporting documents on a Facebook message, and our social media team will ensure that the dedicated agent receives your documentation. When doing this, please ensure to include your ID number so the social media agent can check our systems to see who the relevant agent is that should receive your documents.