Many South Africans fall into serious debt after just one unexpected event – an accident, a medical emergency, or a sudden family responsibility.
When high-interest loans and credit card bills pile up, staying in financial control becomes difficult quickly.
In this case study, we share how Yando – a young professional and a family breadwinner – broke free from R120,000 in debt through debt counselling in South Africa, with leading debt specialist DebtBusters.
Yando’s background:
- Age (when starting debt counselling): 26 years old
- Status: Sole family provider
- Assets at the time: None (no property or emergency fund)
- Total debt owed: Just under R120,000 (a home-repair loan and vehicle finance)
As the family provider, Yando took out a R120,000 loan to rebuild his mother’s home.
Soon after that, he bought a car to drive to work.
When his car was written off in an accident, Yando found himself trapped in a borrowing cycle just to survive.
Turning point
I suddenly woke up and realised I couldn’t keep up.
As his monthly debt repayments started to exceed his income, Yando began suffering from panic attacks and sleepless nights. This breaking point pushed him to act.
He searched online for information on how to get out of debt in South Africa – and that’s when he came across DebtBusters, which assists clients through debt counselling.
Debt counselling is a formal process regulated by the National Credit Regulator that helps overindebted individuals regain financial control through a series of straightforward steps.
Are your repayments bigger than your paycheque? Take our self-analysis test and see if debt counselling can help.
Discovering DebtBusters
Yando first discovered DebtBusters through an online banner stating: “We can help if you’re in financial trouble.”
Feeling overwhelmed and out of options, he made the call.
The response was immediate, empathetic, and professional.
During the first conversation, a dedicated debt counsellor walked Yando through the process of debt counselling step by step, explaining how it works, what protection it offers, and what to expect at each stage of the journey.
From there, the DebtBusters team kept Yando informed with regular check-ins, follow-up emails, and guidance – making sure he never once felt alone on his journey to financial recovery.
How DebtBusters helped
|
Stage of the process |
What DebtBusters did |
Benefit |
|
1. Comprehensive financial assessment |
Assessed every loan, credit card, and store account; verified income and expenses |
Established a clear picture of true affordability |
|
2. Formal debt review application |
Filed a formal application with the National Credit Regulator under the National Credit Act Need debt counselling or consolidation?Explore DebtBusters' solutions for reducing your interest rates and unlocking cash. Find out more |
Obtained legal protection from creditors and a pause on high interest |
|
3. Repayment restructuring |
Negotiated lower interest rates and one affordable installment |
Monthly repayments reduced by 47% |
|
4. Ongoing coaching and support |
Quarterly check-ins, budgeting tips, and emergency fund planning |
Improved Yando’s confidence and helped him put long-term healthy money habits in place |
Read our full debt counselling guide for details.
Outcome and benefits of debt counselling
After entering debt counselling with DebtBusters, Yando’s life changed dramatically.
- His multiple repayments were combined into one manageable monthly installment.
- Creditors stopped calling, and all legal action by creditors was halted.
- Yando was finally able to stop borrowing and start saving.
- Anxiety gave way to peace of mind, thanks to a solid budget and growing emergency fund.
“I felt like I was getting a part of myself back,” Yando recalls, as panic began to give way to peace of mind.
Lessons learned through the debt review process
Yando learned four enduring lessons while under debt counselling.
- Act at the first sign of financial strain. Waiting allows interest and fees to snowball – you can become overindebted before you know it, necessitating measures like debt counselling.
- Stick to the plan. It pays to be strict about your budget, since this will help you to clear your debt more quickly.
- Start building a savings buffer. Having an emergency fund is essential, even if you save only R200 a month. This may prevent you from having to borrow in a crisis.
- Stay motivated. Yando kept his motivation high by focusing on what truly matters – his family and his financial freedom. Making everyday sacrifices amounted to taking purposeful steps towards a debt-free future.
Who needs DebtBusters’ services?
- People whose income no longer covers their monthly debt repayments.
- Individuals juggling multiple high-interest loans or credit card balances.
- Anyone seeking to avoid legal action or the repossession of assets.
- Those who are overindebted and need to free up cash for everyday expenses.
Also watch: Yvonne’s story under debt review
How DebtBusters can help you
- Free initial consultation to understand your debt profile
- Tailored debt counselling application submitted on your behalf
- Negotiated lower interest rates and repayment terms with all registered credit providers
- Ongoing support and financial coaching until you’re debt free
- Start your journey to financial freedom today
No matter how overwhelming your debt situation, you don’t have to face it alone.
DebtBusters provides the expertise, advocacy, and encouragement to break free from unmanageable repayments and start rebuilding your financial future, one affordable instalment at a time.
Learn more about our debt counselling process and debt solutions. Ready to take control? Contact DebtBusters today for your free assessment.
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