Debt Articles

At DebtBusters we make sure that you stay up to date with interesting, informative debt articles on debt and related topics. As the cliche goes… knowledge is power.

In the case of debt we believe that you can never have too much information or too many tips at hand. So watch this space!

May
10

Can I lose my car if I am under debt counselling?

Being in a position where you are struggling with debt is already stressful. Now add the fear of losing an asset like your vehicle due to non-payment, and it is a recipe for financial disaster. But what if you have already enlisted the help of a debt solution such as debt counselling – do you […]

May
10

Overcoming the psychological impact of being over-indebted

Being over-indebted has a negative impact on your personal finances. It reduces your credit score, absorbs your disposable income, and prevents you from building your savings. Added to this, it also has an impact on your emotional well-being. Being over-indebted can contribute to a string of psychological issues, such as anxiety, loneliness, and depression. It […]

May
3

The Emotional Stages of Debt – Where Are You?

Whether they are aware of it or not, some consumers face various emotional stages in the process of becoming over-indebted. While consumers may not experience all of these stages, which don’t always follow in chronological order, it is important to be aware of these stages in order to take action and avoid financial devastation further […]

April
13

How long before debt is written off in South Africa?

If you have been struggling to pay off a certain debt, the question of how long before the debt could be written off may have crossed your mind. According to experts, the answer lies in whether this is considered prescribed debt or not. There are also different time specifications for different loan types. Prescribed debt […]

April
9

How can I go under debt counselling, pay admin fees and still save money?

Many people who are not familiar with the debt counselling process do not see how they are able to commit to a debt restructuring programme, pay monthly fees to the debt counselling company for the ongoing service, and still save money and come out debt free at the end of it. Well, the answer is […]

April
9

How to better navigate your personal finances

Now that the South African Government has announced its 2019 budget, the tone has been set for us as the consumer to insure we plan better regarding our personal finances and make better financial decisions. Perhaps this could also be a new chapter for us to achieve financial freedom. There is no clear cut, one-stop […]

April
9

Financial planning to buy an engagement ring

You have reached the point in your romantic relationship where you are ready to pop the big question and put an engagement ring on your partner’s finger. But rings come in all shapes and sizes – and most importantly – in different price ranges. How much can you expect to spend? While the natural inclination […]

April
5

The dangers of informal lending

In recent years the number of informal lending schemes in South Africa has grown significantly as people continue to look for new ways to access more money. But is this a reliable and safe way to take out a loan? The term ‘informal lending’ is typically used to describe lending schemes or practices that are […]

November
28

Do you have too much debt?

You notice most of your salary is going towards your debt repayments each month, you cannot afford to put money towards a savings account, you purchase your groceries with your credit card, and your credit applications are being rejected. These are all signs you’re carrying too much debt. But how much is too much? A […]

August
30

Three Common Myths about Debt Counselling – Busted!

To many South Africans the term “debt counselling” is seen as some sort of financial curse word. That if spoken, it swallows any hope you have of a healthy credit record. (Which is a complete myth!) But how did one of the best debt solutions inherit this stigma?  And what are the other common myths […]

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