December is arriving and as the jingle bells rock and the good times start to roll, it’s vital that you keep a watchful eye on your budget. It’s easy to get caught up in the huge ‘sale’ signs and the flashing lights, so we’ve put together some tips to help you keep your festive season finances right on track whilst under debt counselling.
25 August 2015
The weather may be getting warmer, but so is that credit card that’s burning a hole in your pocket. Bad debts, late payments, arrears on accounts and frantic searches for that elusive bad debt loan are dragging you down. Winter has piled on the ‘financial weight’ and you are drowning and desperate for some debt relief…
John, like many South Africans, was struggling to pay his debt repayments each month. He felt as though he would never manage to get on top of his mountain of debt. John had run up all his store cards, maxed out his credit card, cleared out his overdraft and taken out two personal loans and a pay day loan just so that he could keep up with his monthly expenses and repayments.
What else was he supposed to do? His children needed uniforms and textbooks for the new school term. The rainy days meant that he needed to use his car to travel to work and his ceiling at home developed a leak that needed fixing. Electricity, fuel and food prices went up and he just couldn’t make ends meet. But neither could his overdraft! It too eventually ran out. John dreamed that one day he would be able to clear his debt.
Luckily for John his friend referred him to DebtBusters… Debt Relief arrived, and just in time!
What is Debt Counselling?
Debt counselling is a formal Debt Management process that was introduced by the National Credit Act and is designed to give consumers like John a second chance at managing and paying off their debt at a rate that they can afford.
How did Debt Counselling help John?
A Financial Consultant from DebtBusters performed a Credit Check and Debt Assessment for John. Once the consultant had a clear understanding of John’s income, living expenses and debt obligations he was able to prepare a realistic budget for him. He quickly managed to calculate exactly how much money John had left over each month to pay towards his debt repayments. DebtBusters successfully negotiated reduced instalments and interest rates with John’s Credit Providers on his behalf and John is now able to pay one consolidated and lower debt repayment each month over a longer period, almost half the amount he was originally paying.
Thanks to DebtBusters, John can now comfortably afford his household expenses and his debt repayments without having to take out additional loans. What’s more, in just 60 months, John will be debt free. Debt Counselling has given John a second chance!
Are YOU like John?
If you are financially stressed and struggling to pay your monthly debt repayments every month, give DebtBusters a call. Take advantage of our Free Credit Check and Debt Assessment offer and find out if Debt Counselling is the right solution for you. Visit www.debtbusters.co.za or call DebtBusters on 086 999 06 06 and start defrosting your debt today!