Can I Do Debt Review for My Business?

If your small business is struggling and you are falling behind on payments, you might wonder, “Can I go under debt review for my business debts?” The short answer is no—not exactly. But the full answer is more useful than that.

Debt review is designed to help individuals, not companies. That means if you run a registered business, like a Pty Ltd or a close corporation, and the business owes money to suppliers or lenders, then that kind of debt cannot be included in your personal debt review. In that case, you may need to explore other options, like speaking to a business rescue practitioner or an attorney who can advise on company debt.

But that is not the full story. Many South Africans run small businesses that are not formally registered. They use their personal accounts, personal loans, and credit cards to keep the business going. This is especially common among sole traders. If this sounds familiar, then there is some good news—those types of debts can often be included in debt review.

When Your Business Debt Is Actually Your Debt

Let us say you run a small delivery business. You took out a personal loan to buy a vehicle, and you use your personal credit card to buy fuel or cover slow months. Maybe you even used a store account to buy stock. On paper, these debts belong to you. But in reality, you used them to support your business.

In cases like this, debt review can help. If the accounts are in your name, and you are over-indebted (which means you cannot meet your monthly debt repayments), then a NCR registered debt counsellor can assess your situation and help restructure these debts. This will reduce pressure and give you a more affordable payment plan.

So, while you cannot do debt review for your business, you may still qualify as an individual because of how your business is tied into your personal finances.

How Debt Review Can Help Small Business Owners

When you are trying to keep a business afloat, everything feels urgent. You are juggling payments, trying to keep suppliers happy, and chasing cash flow. Many business owners use personal credit to fill the gaps. But over time, this becomes risky. The stress builds. The payments pile up.

Debt review can give you breathing room. Instead of dealing with a dozen different accounts and due dates, your debts are combined into one affordable plan. This means fewer missed payments, no constant calls from creditors, and a chance to focus on keeping the business running.

In fact, going through debt review can be the moment where you pause and rethink how you run your business. It may help you decide to separate your personal and business finances in the future. You might even come out stronger, with a better understanding of where the money goes.

What Debt Review Cannot Do

If your business has debts under the name of a registered company, like a Pty Ltd, and those debts are not tied to you personally, then they will not qualify for debt review. These company debts are treated differently under the law. You will need to speak to a professional who works with business rescue or company liquidation if you need help in that area.

Likewise, debt review will not solve every business challenge. It will not bring in more customers or fix cash flow issues. But it can remove one of the biggest daily pressures—the fear of falling behind on personal payments that were used to keep the business going.

A Personal Solution for a Personal Burden

If you are a small business owner who has been using your own credit to keep things moving, you are not alone. This is more common than people realise. The pressure to succeed often leads to personal sacrifices. But when the debts get too much, it is okay to get help.

Debt review is a legal, structured, and private way to do that. It allows you to take back control, not only of your personal finances, but possibly your business too. It is not for every kind of business debt, but for the right situation, it can make all the difference.