If the client’s proposal solves under the debt counselling rules engine (DCRS), as per 80% of proposals do, then the banks will reduce the monthly fees & interest rates on their system, upon acceptance by the creditor.
The fees are the first thing to be removed, even before interest is reduced. This can occur as soon as the credit providers accept the proposal, normally within 30 business days from when the application was submitted. The mandated time, stated by the NCR, is 60 business days, but because DebtBusters are extremely efficient, clients are usually out of debt faster than expected.
Credit life insurance will still be charged by the credit provider. However, DebtBusters will discuss a far more cost effective credit life insurance, which will help the client save more money.