DebtBusters has reviewed the Bidvest Bank Account™ and is confident that it is an affordable option for those looking for low banking fees.
28 November 2012
As many of you will be aware we have been sending out a newsletter to all those consumers who have contacted us over the years, to give advice on how we can all save money. With debt review over 2011 there have been many developments, hence why are now sending a newsletter more specific to debt counselling and our clients who are working with this process.
2011 was an eventful year, with DebtBusters being involved in major industry decisions to help the consumer and our clients get out of debt in a set time frame. We have also invested heavily in our business, specifically in staff, infrastructure and technology to deliver a constantly improving service to our clients. DebtBusters are now the largest Debt Counsellor in South Africa -we want to ensure that even though we are the largest we still offer the best service.
Here are some highlights:
• DebtBusters is a member of the Joint Operational Forum making sure the issues within the industry are addressed and resolved. Once of the key areas was the launch of an industry agreed system (DCRS) that has allowed for major interest rate and term concessions from the creditors.
DebtBusters were one of the first to test the system and have the highest solve rate in the industry.
• We have one of the highest acceptance rates in the country with over 90% of credit agreements being agreed.
• 98% of the homeloans we have dealt with have been agreed with the banks, keeping over 2,000 families in their homes this festive season.
• 95% of the vehicles we have dealt with have been agreed with the vehicle financiers.
• In 2011, over 200 million rand was paid by our clients to their creditors, therefore one step closer to getting out of debt. Over 90% of our clients pay each month, which is critical to the process working.
• DebtBusters issued a record number of clearance certificates, meaning a consumer had paid off all their debt and we advised all the parties so the credit record could be cleared.
• We launched a credit life product at a much reduced rate to what consumers are normally given by the credit providers. For instance on a loan of R15,000 a consumer may pay R300 per month just for the insurance, whereas we are getting the same cover for R53, a saving of R3,000 per year.
• From time to time, creditors will continue with calling clients for payment, many via debt collectors and this can result in summonses being sent. We have an extremely high success rate of settling summonses in over 95% cases where the consumer is making payment.
• We deal with over 5000 client service queries per month and over the year have reduced the timeframe these have been dealt with, down to 6 hours. In 2012, our goal is to reduce this further to give our clients the best service we can give.
In 2012, we shall continue to be the industry leader by investing in our staff, our technology and the industry to bring our clients better products and services. We wish you a happy festive season and a good 2012.