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Debt Busters consolidation loan overview

Debt Busters’ flagship solution is a formal debt counselling plan that works like a consolidation loan from your point of view – one fixed monthly instalment, one payment date, and a clear end point – but without taking on any new credit.

• Service type: Debt counselling (debt review) with consolidation-style single payment
• Loan/credit: No new loan – your existing debt is restructured
• Main purpose: Lower instalments and interest, protect you from creditors, and get you debt-free
• Best suited for: South Africans who are over-indebted and struggling with multiple repayments
• Typical term: Around 24–60 months, depending on how much you owe and what you can afford

Instead of applying for another personal loan, Debt Busters steps in as a registered debt counsellor. They look at your full situation – income, monthly expenses, and all your debts – and then design one realistic repayment that fits your budget. From there, they negotiate directly with your creditors to reduce instalments and interest rates wherever possible, and they put everything into a single, structured plan.

Once your new repayment plan is in place and confirmed by the court, you pay one agreed amount each month to an approved payment distribution agency. That agency pays all your creditors for you, according to the plan. As long as you keep up with the agreed instalment, you benefit from legal protection, fewer collection calls, and a clear roadmap to becoming debt-free.

Because it’s based on debt counselling – not a new loan – this plan is designed for people who feel they’ve already reached the limit of traditional credit and need relief and structure, not more debt on top of debt.

Benefits

One payment, one date

All your qualifying debts are combined into a single, manageable monthly instalment, so you stop juggling different debit orders and due dates.

Legal breathing space from creditors

Once you’re under a formal plan and paying as agreed, creditors generally can’t just jump to court or repossession on those debts, which gives you room to breathe and plan.

Lower instalments and interest

Debt Busters works to reduce your interest rates and spread your repayments over a sensible period, so your monthly cash flow improves and more of each payment goes toward settling the actual debt.

Help to protect key assets

Acting early through their plan can help you hang on to important assets like your home or car, instead of facing urgent repossession because of missed payments.

No extra credit on top of what you owe

Because this is a restructuring of existing debt, not a fresh loan, you’re not digging the hole deeper – you’re putting a lid on it and starting to fill it back in.

Guidance from a dedicated team

You’re not left on your own: the team helps with creditor queries, explains statements, and supports you if your situation changes during the process.

A clear path to a debt-free finish line

The plan is designed to end. Once everything in the programme is paid, you receive a clearance certificate and can start rebuilding your credit record from a much cleaner base.

Why Choose Debt Busters?

Regulated and NCR-registered

Debt Busters is registered with the National Credit Regulator under NCRDC2482 and operates fully within the National Credit Act framework. This means there are clear rules on fees, processes and consumer rights, and you can verify their status directly on the NCR website.

Part of a large, specialised debt group

As part of IDM, Debt Busters sits inside one of South Africa’s largest debt-focused financial services groups, with hundreds of staff working only on debt and personal finance problems. That depth means you’re not dealing with a generalist call centre, but with a dedicated debt management operation.

Proven experience with over-indebted households

Debt Busters reports having helped more than half a million South Africans, and industry partners cite hundreds of thousands of clients and families guided through structured plans across all provinces. This scale gives them experience with many different creditor combinations and problem scenarios.

Documented savings on interest and fees

Partner data shows clients collectively saving at least hundreds of millions of rand in interest and fees, and in some summaries, over R1 billion, with average interest rates on accounts often negotiated down from about 21% to low single figures. For you, that means paying off balances faster than if you simply kept rolling high-interest debt.

One plan that protects, not just consolidates

Many “consolidation loans” add more credit on top of what you owe and can backfire if you’re already over-stretched. Debt Busters’ core process is legal debt counselling: it restructures existing accounts and, once the court order is granted, protects you from most new legal action as long as payments are made.

Industry recognition and public visibility

Debt Busters has repeatedly been named Top National Debt Counsellor at the Debt Review Awards and appears regularly in media for their insights via the Debt Index and Money Stress Tracker. This visibility and peer recognition are soft indicators that they’re taken seriously in the industry.

Strong consumer-education focus

Through guides, surveys and media collaborations, they talk openly about how much stress South Africans are under and what realistic solutions look like. This educational component matters: according to FinMark Trust’s FinScope Consumer 2023 study, 27 million adults are active credit users and about 35% used credit mainly to cover everyday needs in the prior year, which is a recipe for chronic money stress.

Support through a tough period, not just at sign-up

Most debt problems play out over years, not weeks. The Debt Busters model includes ongoing support, monitoring via a registered PDA, and help if your income changes – not only a quick sign-up and then silence.

Clear end-point via a clearance certificate

Debt counselling is designed to end. Once accounts are settled, you receive a clearance certificate and your debt review status is removed from the credit bureaus, giving you a defined “finish line” to work toward.

Realistic, non-judgmental approach

Communication from the group consistently emphasises that over-indebtedness is widespread and largely driven by economic pressure, not “bad character”. The National Credit Regulator’s own Consumer Credit Market Report shows total consumer credit of around R2.35 trillion by end-2023, underlining how normal it is to carry large balances in South Africa. Debt Busters leans into that reality with a practical, non-shaming tone.

Debt Busters FAQ

1. What does debt consolidation mean?

Missing deadlines for various outstanding credit cards, store accounts, and/ or personal loans, month after month; Debt consolidation solves this by merging all of these into a single, reduced monthly repayment. Debt Busters evaluate your monthly spend-to-income ratio, and propose a well structured plan going forward, often negotiating improved terms with creditors.

2. What are types of debt that can be consolidated?

Debt Busters bundles together unsecured debts—excl. assets like a home or a car. This specifically applies to credit cards, store accounts, personal loans, medical bills, and even overdue utility accounts.

3. Will a consolidation loan lower my monthly repayments?

The short answer is, yes! Debt Busters reduces your repayments by negotiating new and improved terms with creditors, like lower interest rates or longer repayment periods. Of course, the results depends on your specific situation, but rest assured experts will review your application in great detail to find the very best debt solution for you.

4. Is it possible to qualify for a consolidation loan if I have a low credit score?

Yes! They will focus on your current situation rather than past credit score. Debt Busters help consumers move forward with a well structured and affordable plan regardless of the current issues.

5. What’s the difference between debt consolidation and debt review?

Debt consolidation streamlines payments into one plan while keeping accounts active, often with renegotiated terms. Debt review, on the other hand, is a formal legal process that pauses credit use while restructuring debt under court oversight. Debt Busters advises which path best suits your situation.

6. Can debt consolidation hurt my credit score?

To start off with, you may notice a slight dip in your credit score—usually only temporary. Debt consolidation will help improve your score by helping you make each and every one of your payments.

7. How much time does debt consolidation take?

Debt Busters works quickly! Clients see a plan drafted within days of sharing their financial details. Typically takes 4–6 weeks, depending on creditor negotiations.

8. Are there any risks with debt consolidation?

It may seem like the best way to manage your outstanding debt, but debt consolidation might not be for you. Stretching repayment terms could result in paying more interest over time, and closing old accounts may temporarily (negatively) affect your credit rating. Debt Busters are proven financial experts, and will go over the pros and cons, making sure you understand every options before moving forward.

9. Do I need to place collateral to qualify?

No! Debt Busters works on unsecured consolidation solutions, you don’t have to risk your assets. They base their plans on your income and expenses.

10. How do I know if debt consolidation is the right option for me?

If juggling multiple payments feels overwhelming, or if interest charges are eating into progress, it’s worth a conversation. Debt Busters offers free consultations to review a client’s unique situation. They’ll ask questions like, “Are you only covering minimum payments?” or “Do bills cause constant stress?”—then help decide if consolidation is the best next step.

11. I've read many complaints about Debt Busters on Hello Peter?

It’s normal to feel concerned after reading mixed reviews on Hello Peter, but here’s the bigger picture; Debt Busters have been assisting consumers since 2007, they’ve helped more than 60,000 people take control of their finances, saving over R450 million in interest and fees.

No company is perfect, but Debt Busters has truly made a difference for many people, saving their homes and cars from repossession and offering them a new start. They’re proud to be South Africa’s most trusted debt counsellor and remain committed to helping those who are overwhelmed by debts.

12. Debt Busters Whatsapp Number

It seems that Debt Busters does not offer a WhatsApp contact number. Their primary contact methods are:

0861 365 910
info@debtbusters.co.za

Debt Busters Application

Do I qualify?

You’re more likely to qualify for Debt Busters’ solutions if:

• You’re a South African resident with credit agreements in South Africa.
• You have a steady income (salary or reliable self-employed income).
• Your current monthly debt instalments are clearly too high relative to your take-home pay.
• You are starting to skip payments, rely on new credit to cover basics, or receive arrears notices from creditors.
• You want legal structure and protection rather than informal promises.

According to central bank and survey data, many South African households are in this position: household debt is high relative to income, and many consumers lean on unsecured credit to cover everyday needs. Debt counselling is designed exactly for this profile.

Requirements

To proceed beyond the initial conversation you’ll typically be asked for:

• Valid ID or passport
• Recent payslips or bank statements (usually 3 months)
• A list of your credit providers and approximate balances
• Proof of residence not older than 3 months
• Details of any existing legal action (summonses, garnishee orders, repossession threats)

The more accurate your information, the better the proposed plan will reflect your true situation.

Process

1. Quick contact and pre-screen
   –You complete a web form or call in. A consultant does a quick check to see if you’re a likely candidate and books a deeper assessment.
2. Full financial assessment
   –A more in-depth call or online process goes through your income, household expenses and all debts. At this stage you can still walk away with only advice.
3. Formal application and creditor notification
   –If you decide to proceed, you sign the debt counselling application, and Debt Busters notifies all your credit providers and the credit bureaus that you’ve applied.
4. Proposal, negotiations and interim protection
   –Debt Busters drafts a proposed plan and negotiates with creditors on instalments and interest. You start paying the proposed single instalment via the PDA as early as possible, even before the court date, to show commitment.
5. Court order / tribunal order
   –The plan is submitted to court or the National Consumer Tribunal. Once granted, this order formalises your new repayment structure and protections.
6. Monthly payments and check-ins
   –You keep paying the agreed instalment every month. The PDA distributes funds, and Debt Busters handles creditor queries and assists if your circumstances change.
7. Completion and clearance
   –When all included debts are settled, a clearance certificate is issued and your credit profile is updated to show that the debt counselling has been completed.

Timeline

• First conversation to detailed proposal: usually a few days, depending on how quickly you provide information.
• Application to court/tribunal order: typically around 4–6 weeks, but it can be shorter or longer depending on the court roll and complexity.
• Full journey to debt-free: most plans run for a few years – often 3 to 5 – but this depends entirely on how much you owe and how much you can pay.

Debt Busters should outline an indicative timeline for your specific case before you sign anything, and you should ask them to explain any delays if milestones slip.