What is Debt Counselling?
Debt counselling is a formal and closely managed debt solution, introduced by the National Credit Act in 2007. DebtBusters debt counsellors guide clients with debt problems through debt review, enabling them to make monthly debt repayments and gain financial stability.
DebtBusters debt counselling process helps clients who are struggling to make debt payments, by entering them into a structured debt repayment plan with their credit providers, in order to ensure they take firm control of their financial situation and settle their short and long-term debt.
DebtBusters has mandates with 95% of credit providers to extend the terms and reduce interest rates down to zero if necessary. DebtBusters aim to get clients debt free in 60 months. With 90% of DebtBusters debt review proposals to credit providers being accepted, debt counselling can be considered as a highly effective method of becoming debt free.
Benefits of debt counselling:
Qualifications for debt counselling in South Africa:
Most importantly, DebtBusters debt counsellors aim to give clients hope for a future of financial wellbeing and the ability to borrow credit again.
Contrary to the stigma that consumers are indebted as a result of reckless spending or borrowing, most consumers who approach DebtBusters for assistance do so as a result of unforeseen circumstances. Many young people set huge expectations for themselves even before they’ve entered the ‘real world’. There is often a set idea of what success […]
Entering the debt counselling process can be overwhelming. You may have questions about how this will affect your credit score, how long the process is, and how much this will cost you. But if you’re partnered with a responsible and trusted debt counselling company you will be guaranteed peace of mind. When selecting a debt […]
Debt counselling is a formal and highly regulated debt management solution offered to those who are over-indebted to assist them with paying off their outstanding debt, while freeing up cash flow and providing them with legal protection. But is this solution available to you if you are unemployed? While DebtBusters is committed to assisting all […]
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 […]
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 […]
