DebtBusters, one of South Africa’s largest and most innovative debt management companies was launched in January 2008. DebtBusters plays an integral part of The IDM Group (IDM) and offers a new approach to dealing with financial issues and assisting clients with solving their debt situation.
Founded in April 2004, The IDM Group (IDM) offers comprehensive advice and a host of highly effective solutions to South African consumers who are facing financial difficulties and struggling with debt.
IDM operates from a centralised office in Cape Town, South Africa, from which more than 150 employees service clients nationally. Over 60% of IDM’s clients are based in Gauteng.
IDM aims to help clients from all demographic and economic segments, with one division focussed on the upper middle income bracket and another division assisting clients with lower income. To date, IDM has assisted more than 20,000 South Africans providing each with excellent customer service and solutions tailored to meet their individual needs.
IDM prides itself on being a key player in shaping the development of the industry and this is helped by both its extensive relationships with credit providers and insurers (up to the highest level) and a market share in excess of 15%.
IDM believes in giving clients a second chance to build a brighter future. IDM aims to improve the quality of people’s lives and educate consumers so they are in a position to generate wealth and contribute to the positive development of South Africa.
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DebtBusters, debt management consultancy, is a relatively new industry and it has taken time for newer companies to familiarise themselves with the industry norms and procedures. In the past, the majority of debt counsellors were individual operators and not companies. These individual counsellors took their clients' first fees and then left them stranded.
DebtBusters is a reputable and well known debt management company, registered with the National Credit Regulator. Recently DebtBusters featured on Carte Blanche, whereby Ian Wason the CEO of DebtBusters provided an industry overview, as well as an explanation of the debt counselling process. Please view the following episode:
Ian Wason, DebtBusters CEO, also features on various news channels such as ETV and provides up to date information on the debt crisis South Africa currently faces.
The debt review process that DebtBusters delivers is often viewed in a negative light due to a lack of understanding. The following animation clearly explains the debt counselling process and how DebtBusters deploys it: