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Representative example: Estimated repayments of a loan of r30,000 over 36 months at a maximum interest rate of 29.25% apr would be r1,381 per month including fees. Repayment terms can range from 2 - 72 months. Myloan is an online loan broker and not a lender. Our service is free, and we only work with NCR-licensed lenders in South Africa. Interest rates charged by lenders can start as low as 19.25% apr, including an initiation and service fee determined by the lender. The interest rate offered depends on the applicant's credit score and other factors at the lender's discretion.

The maximum annual interest rate including fees is 27.5%. Repayment terms can range from 1 - 72 months.

MyLoan is an online loan broker and not a lender. Our service is free and we work with NCR licensed lenders in South Africa. Interest rates charged by lenders can start as low as 20% APR, including an initiation and service fee determined by the lender. The interest rate offered depends on the applicants’ credit score and other factors at the lenders’ discretion.

If you're a South African looking to manage their debt, you might have heard that Finwell Legal Services is a viable solution. You may also be wondering, "Is Finwell Legal Services legit?" and "What does Finwell Legal Services do?" Read on to find answers to these questions, plus more.


  • Services: Debt management, credit repair, and credit mediation

  • Additional services: Wills, home loans, car rent to own

  • Basic package types: Debt negotiations, affordable distribution, debt review cancellation

  • Fees: Once-off assessment fee, plus other fees depending on the package


Finwell Legal Services is a South African company specializing in professional debt mediation. It offers millions of South Africans the opportunity to get out of debt more easily by negotiating for reduced payments with lenders.

You can choose from three different packages. Debt negotiation helps reduce your monthly payments, but you will be responsible for paying your creditors directly. On the other hand, affordable distribution is the most popular package and a full-service solution. 

With this option, you authorize Finwell Legal Services to receive an affordable payment from you and distribute it to all your creditors after negotiations have been completed on your behalf. The third package is debt review cancellation, and it facilitates your removal from debt review, after which you benefit from the affordable distribution process.


  • Fix your credit record: Finwell makes your debt manageable, so it's easier to stick to your payments. Paying down your debt via on-time payments improves your credit score in the long run. If you have been listed on credit bureaus, Finwell will also help you clear your record.

  • Gain financial freedom: Too much debt can leave you with a tight budget. However, Finwell will negotiate for lower payments on your behalf, so you have more disposable income. 

  • No debt review: Finwell Legal Services does not offer debt counselling or debt review services. That means there's no court action, and the services don't reflect on the credit bureaus. In addition, using services from Finwell doesn't involve sequestration or debt administration.

  • Access to legal and financial knowledge: You will have access to legal and financial knowledge geared to help you in your journey towards financial wellness.


  • Services are not free. Finwell charges a once-off assessment fee. There may also be other charges, depending on the offering you choose.

  • Lenders might continue calling you. It's possible to receive calls from your creditors even after taking up one of the offerings from Finwell. That's because it sometimes takes a while before your credit status changes.


Finwell offers the following three basic product packages:


This package allows Finwell to negotiate for lower monthly instalments with your creditors on your behalf. First, Finwell will consider how many creditors you have and what you owe. Next, Finwell calculates a more affordable monthly payment (this incurs a once-off assessment fee). 

If you wish to proceed, Finwell then negotiates with all your creditors. For instance, if your monthly income is R8000 and you have to pay R6000 per month to all your creditors, you may not have enough money left to cover other expenses like transports and utility bills. 

However, Finwell can reduce your overall monthly payment to R3000 (this is just an example). This leaves more money in your pocket. With this package, you're responsible for distributing the money and paying your creditors directly.


This is also known as voluntary distribution. This package goes a step further because, after negotiation, you give Finwell the mandate to make payments to creditors on your behalf based on your new payment plan. All you have to do is pay Finwell, and Finwell will distribute an affordable amount to all your creditors. This full remediation service saves you the hassle of making several payments to different creditors.


If you're under debt review, Finwell can help you cancel the process and reverse the court action. Finwell will also renegotiate with creditors on your behalf so you can undergo the affordable distribution process.


This is a popular question from South African borrowers who haven't used Finwell Legal Services. FINWELL LEGAL SERVICES (PTY) LTD seems to be a legit company with a verified registration number. In addition, the company has a physical location that you can visit if you prefer in-person interaction. You can also use the contact details provided to contact Finwell Legal Services and find out more about the company.


  • Are over indebted.

  • Need to manage debt without resorting to debt review and debt administration.

  • Need help improving their credit score.


MyLoan is a leading loan comparison website that can help you find the best loan for your budget and needs. However, if your existing loans are threatening to turn into bad debt, we can also help! We have several bad debt partners that can help you manage your debt in several ways. 

Besides Finwell Legal Services, our other partners include Debt Busters and Debt Rescue. Debt Busters and Debt Rescue can help you pay off your debts through professional debt counselling and advice, as regulated by the National Credit Regulator. We can also help you find a debt consolidation loan that gathers your debt into one place so it's easy to manage.

Not sure which option is right for you? Why not fill in our application form? We will forward it to several of our partners. If you're a good fit, you'll soon be receiving no-obligation quotes from Finwell Legal Services and other debt management professionals. From there, you can compare offerings and decide on the best option for you.

The journey to financial wellness and getting out of debt might seem like a big task, but you can get there with support from the best professional service.


Why are my creditors still calling me?

There are different reasons your creditors could still be calling or harassing you after using Finwell legal Services. For starters, it takes a while before funds can be distributed and for your credit status to change even when you have made your first payment. 

In addition, your creditor may fail to update their records on time, so you may still get follow-ups. In any case, refer all calls to Finwell, and they will handle the matter for you.

How do I contact Finwell Legal Services?

  • Switchboard: 012 054 5700

  • Client Service:

  • Documents:

  • Physical address. 337 Veale Street New Muckleneuk, Brooklyn Forum building, Pretoria, Gauteng, 0181

Can I cancel my agreement with Finwell Legal Services?

Keep in mind that you'll need to honor the agreement you have with Finwell. This allows Finwell to also honor the arrangement made with your creditors. However, you can still cancel the agreement by contacting the customer service department to learn about the impact of cancelling your agreement.

What other products does Finwell offer?

Finwell Legal Services also offers a consolidation bond or home loan from Finwell Bonds in partnership with MATTFIN. All your debts will be consolidated under one home loan. You have to be a property owner with a fully paid home loan or a bond that's under R250 000. Finwell also provides wills and credit repair solutions.