FAQs

If a judgement has been issued against you for an outstanding debt, and you are unable to settle the debt, you may face an emoluments attachment order (EAO). This can cause significant anxiety, but understanding the process and knowing your rights can hel...

A South African consumer approached DebtBusters and asked the following question about debt consolidation: I would like to apply for debt consolidation, but I am worried about whether it will be effective in the long run. I am in a financial situation, ri...

At DebtBusters, we understand how important it is to keep your credit history clean, especially if you’re planning on making significant purchases, such as a home, in the future.FAQ: A South African consumer approached DebtBusters with the following...

If you haven’t applied for credit before, you may find the process confusing. There are several steps to follow before you can secure a loan – and some may require a degree of effort. You should also bear in mind that loan agreements are legal...

In the world of personal finance, few entities wield as much influence as credit bureaus.   Although they have made an effort to become more transparent and consumer-friendly in recent years, they do not openly share their decision-making proces...

A South African consumer approached DebtBusters for advice on how to eradicate debt accumulated due to job loss: My husband and I both had good jobs and we have always been able to afford our expenses. Due to the recession and the poor economic circumstan...

Question: What is the difference between a Section 129 letter and a Letter of Demand? The differences between the Section 129 letter and the Letter of Demand If you have ever defaulted on your credit agreement, you will have received a written notice from...

Are you drowning in debt and dreaming of the day it all just disappears? Is your debt extremely old? You have a chance for your dreams to come true.  Debt Prescription is essentially when your debt expires, meaning you no longer have to pay it. ...

The first thing that clients need to realise is that anyone can fall into the trap of accumulating secured and unsecured debt. Having debt is nothing to feel ashamed of, as with the help of DebtBusters ability to provide substantial advice on how to manag...

South African consumers need to understand sequestration as it is a process that could affect an individuals financial future. But, let’s not get ahead of ourselves. What is sequestration? Sequestration is a legal process whereby a consumer’s ...

A section 129 notice is a formal letter of demand from your creditors. It is the last step before the legal process, in which the creditor will take you to court in order to ensure that you make your payments to them. On receiving this notice, you should ...

A credit bureau collects and stores data supplied by credit providers. The data is used to draw up a record of how consumers manage their credit. Credit bureaus fulfill the duty of gathering data and compiling reports on individual consumers and allocate ...