Case Studies

DebtBusters have helped thousands of consumers throughout South Africa, by saving them money and helping solve their debt and financial difficulties. We pride ourselves on providing the highest quality service to all our clients and ensuring that our trained staff are available to help you every step of the way.

Review our case studies below or read our testimonials to gain a better understanding of the process and what DebtBusters can offer you.

Debt Review Case Study

When Mr Jacobs approached DebtBusters, he was in arrears with many of his accounts and was in fear that his house and vehicle would be repossessed by the bank. Mr Jacobs has to support his wife and 3 children and did not know what to do. Kate, one of DebtBuster's registered debt counsellors spoke with Mr Jacobs to fully understand his position and then offered the best debt solution available to Mr Jacobs and his family. The first step Kate took was to look at the client's current household budget and explain the importance of developing and adhering to a monthly budget.

One area Kate suggested was for Mr Jacobs to review his vehicle and home insurance with the help of InsuranceBusters. With the same insurance benefits, his monthly premium was reduced by R180, a saving of R2,160 per year. With this and other budget saving options, Kate helped the client and his family develop a new affordable budget, saving the R14,500 per year.

Budget drawn up by Debtbusters

After agreeing the budget it shows an amount of R7,200 per month available to service Mr Jacobs' debt. Currently his debt obligations are R13,448 per month, so it was obvious that the client is over-indebted and can be put on the Debt Review program. DebtBusters then developed new repayment plans and sent these to the credit providers asking for their agreement.

Below the table shows Mr Jacobs Debt obligations and repayment amounts before he came to DebtBusters and what we managed to get agreed with his credit providers:

What advantages have Mr Jacobs & his family achieved?

1. The Jacob's family have learnt to live on a reasonable budget, saving them large amounts of money and getting them out of debt faster.
2. The new repayment plans for their home and vehicle were accepted by the banks, meaning they get to keep their assets, as well as saving interest due to reduced interest rates that the banks have agreed upon.
3. The credit cards and overdraft have been agreed at a lower interest rate and a lower monthly installment. This means the debts will be paid back faster.
4. The Jacob's family will pay the amount of R7,200 over monthly and this will get distributed as per the repayment plan in the table above. Less hassle and means no unnecessary legal costs.

Debt Management Case Study

Meet Mrs Nosisa

She also has debts; her monthly repayments are as follows:

Overall Result: Mrs Nosisa is indebted as she requires R4 200 per month to pay her debt but only has a maximum of R3 000. However her debt is not out of control yet and it would be better for her to go under informal debt management.

Plan of action:

DebtBusters renegotiates her debt payments to a total of R2 000 each month by asking her lenders to:

• DebtBusters develop a new budget to ensure the client has the maximum amount available to service the debt
• DebtBusters develop a client repayment plan for the creditors by extending the term of the credit agreements to ensure a positive cash flow. This will allow the client to get out of debt without having to get a court order and therefore less cost.

Mrs Nosisa is asked to pay R3 000 each month which is then distributed to all his credit providers.

How has Mrs Nosisa benefited from going under debt management?

	She makes one monthly payment to service all her debt (the funds are distributed through the system)
	It is a repayment she can afford
	She knows how much he has to live on every month
	No more calls from the Credit Providers
	When she is debt free her credit record is clear
	She doesn't waste time at work trying to sort out her debts
	She can sleep easily knowing that she is on her way to financial stability

"I would like to thank you personally and your company DebtBusters so much for the service that you have been able to offer to assist me with my debt."
D.M. of Sandton

"I am so grateful that there is a kind of service such as this. I am at loss of words and I am overwhelmed at the help and kindness you have provided without passing judgement on my faults that have got me in this situation"
S.E. of Bloemfontein

"I am so impressed with the after-care service you provide to your clients. The mere fact that you even inform credit providers about their changing circumstances, it means you are keeping in touch with your clients and maintaining a close relationship through the term of their programme."
D.R. of Springbok

"Thank you so much for the feedback, and thank you for your patience with Me. You have really been a great help, and I must commend you on your level of professionalism and client commitment. Your service is nothing less than outstanding. You're a star!!!."
R.M. of Cape Town

"I would like to take this moment to thank you for your speedy feedback, professional response, outstanding assistance and all the effort you put in to assist people like me in need off help."
J.DP of Gauteng

"I am hoping this year will be better year and thanks for helping and teaching me how to save and live on my monthly income I really appreciate it."
L B from Parktown

"It is very rare these days to get such good customer care service. I went to another company first, where I cancelled my agreement with them because of the bad service I received. When I contacted you I was very afraid that the same would happen. Jean, however answered all my questions, explained what was happening and kept me up to date on what he was doing. He made a big difference in a very stressful situation. I would feel very comfortable recommending him to anybody in the same situation."
L.Stevenson from Hermanus

"You can visit the website at www.debtbusters.co.za, I highly recommend them, the service I have received from them has been sterling and it certainly takes a load off to work with them. I have been able to sleep at night since March last year and what a pleasure. Try their call centre on 0861 663 328."
Catherine

"Thank you so much for your message received. Let me also commend you for your speedy and professional attention to our application.

Client care and service is still a major problem to our country. The manner you rendered a service to us, makes us feel respected and cared for.

May you continue to serve the people of SA in the best way possible. You are a star!!!

This service to most of us is not known, thank you for educating and making me aware of all my responsibilities and yours from the start. Lack of information makes consumers ignorant and unable to make informed decision. Lastly, after all processes are completed, I have a lot of client and friends who will like to be assisted also. Can I recommend them to you?"
TA Ntombela

"I have never had such prompt replies to questions and problems from any kind of service provider. Man I take my hat off to you guys cause being in financial trouble can effect your life so badly and can really destroy a persons self worth but having Debt Busters there to help makes THE WORLD OF A DIFFERENCE!!! I cant tell you where I would be now if I didn't have the wonderful support from you all!!!

It's a fantastic thing you are doing for so many destitute people that don't know where to turn. It's the right support in the right direction and getting to a goal that's achievable. I can build my life up again with out having 5 million people call me saying they want money and if not its going legal. Its DRAINING and it kills any motivation that you as a person has that day and in turn it affects your job negatively and then the out come from that is to just give up.

I have a second chance now to get back on my feet after I lost my business and the future is bright and I can only thank Debt Busters. "
C Rootman