Only 32 000 out of about 70 000 consumers whose debt counsellors are either in negotiations with their creditors or who already have repayment plans in place, paid their October repayment plan instalments. This is a worrying statistic because if you default on repayments after registering for debt counselling, your creditors have the right to […]
21 November 2015
Over 23 Million South Africans are burdened with debt and more than half of them are in arrears on their debt repayments. At DebtBusters we understand that life happens and that you don’t always plan to get yourself into this situation. There are many reasons for why and how people become over-indebted, ranging from a sudden loss or decrease in income, retrenchment, illness, injury and divorce to improper affordability assessments by credit providers.
We understand that being over-indebted has a massive impact on your life and well-being. We know it leaves you feeling hopeless, desperate, socially judged and overwhelmed. When our clients first talk to us, they feel as if they have nowhere to turn for help with their debt.
At DebtBusters we know that when you get to this point, you need urgent and efficient help and intervention with your credit providers. In many cases, we have to move quickly to stop the banks from repossessing your car and home. So far, Debtbusters has saved 524 homes and vehicles from being repossessed. We are proud to have helped over 35,000 individuals to get back on track with their finances.
We also know that the first step is the hardest and that is why we offer a free and confidential credit check and debt assessment to any South African that is struggling with debt. Our Financial Consultants will offer you free advice and will explain the benefits of debt review to you.
What is Debt review?
Debt Review, also known as Debt Counselling, is a very effective debt solution which has seen thousands of people becoming debt free. It is a process whereby you are assigned a debt counsellor (such as DebtBusters), who contacts your credit providers and negotiates lower instalments and interest rates with them on your behalf. With Debt Review, all your payments are consolidated into one monthly instalment that you can afford. Debt Review offers you legal protection from your credit providers which means that they will stop harassing you for payments.
How to know you need debt review
- You are living off credit because your salary doesn’t cover all your monthly expenses
- You don’t have a budget and you struggle to keep track of your expenses
- Divorce, unplanned children, death, disability or illness has resulted in you incurring expenses that you cannot afford
- You have defaulted on one or more of your monthly debt repayments
- You constantly think and worry about how you are going to pay your monthly debt repayments and expenses
- You are taking out more debt just so that you can pay your existing debt
- Credit providers, debt collectors or lawyers are calling you for money that you owe
- You have started avoiding calls from unknown numbers because it may be credit providers, debt collectors or lawyers asking you for money
If you are in need of help with your debt, call DebtBusters on 0869 99 0606 today for your free and confidential credit check and debt assessment.
Find out how debt counselling can work for you.