Quick Facts About DebtBusters

• South Africa’s 9-time award-winning debt counsellor
• Helped over 150,000 South Africans become debt free
• Registered with the National Credit Regulator (NCR)
• Free initial assessment – no upfront payments required
• One reduced monthly payment instead of many
• Legal protection from creditors while under debt review

What Is DebtBusters?

DebtBusters is South Africa’s biggest debt counselling company. They help people who cannot pay their debts. The company started in 2004.

They are part of the Intelligent Debt Management Group. This group has over 400 workers. All workers are trained to help with debt.

DebtBusters has helped more than 150,000 South Africans. They have won 9 awards for being the best debt counsellor.

What Services Do They Offer?

• Debt counselling – Main service that helps you pay less each month
• Debt consolidation – Putting all debts into one payment
• Credit monitoring – Checking your credit report for problems
• Financial education – Teaching you about money management
• Insurance reviews – Making sure you have the right cover

How DebtBusters Works

Debt counselling is a legal process. It is controlled by the National Credit Act. The National Credit Regulator (NCR) makes sure everything is fair.

The Simple Explanation

When you use DebtBusters, they become your helper. They talk to the people you owe money to. They ask these creditors to accept less money each month.

Instead of paying five different companies, you pay one amount. This amount goes to a Payment Distribution Agency (PDA). The PDA then pays your creditors for you.

Current Debt Situation in South Africa (2025)

According to DebtBusters’ Q1 2025 Debt Index report:

• 91% of people applying for debt counselling have personal loans
• 37% also have payday loans (one-month loans)
• People use 69% of their salary to pay debt
• Those earning R5,000 or less use 76% for debt
• Those earning R35,000 or more use 77% for debt

✅ Who Qualifies for Debt Counselling?

You Must Have:

• A regular income – Salary, pension, or business income
• Too much debt – You cannot afford all your payments
• South African residency – You must live in South Africa
• Be 18 years or older – Must be an adult
• Valid ID document – ID book or smart card

How to Know If You Are Over-Indebted

Calculate your debt-to-income ratio. This tells you if you have too much debt.

Example: You earn R10,000 per month. Your debt payments are R5,000 per month. Your ratio is 50%. This is too high. Debt counselling can help you.

Who Cannot Use Debt Counselling?

• People with no income
• Those who are unemployed
• People already under sequestration (bankruptcy)
• Those with no debt

⚠️ DebtBusters Fees Explained (2025)

The National Credit Regulator sets maximum fees. No debt counsellor can charge more than these amounts. All fees are regulated by law.

Fee Type	Amount	When Paid
Application Fee	R50	When you apply
Administration Fee	R300	When you apply
Restructuring Fee	Up to R8,000 (single) Up to R9,000 (married)	First month payment
Legal Fee (if needed)	Negotiated amount	Month 2 or 3
Aftercare Fee	Maximum R450 per month (5% of payment)	Every month
PDA Fee	R15 per payment over R500	Every month

Important Notes About Fees

• Restructuring fee equals your first month’s total repayment
• This fee cannot exceed R8,000 (or R9,000 for couples)
• Your creditors will not receive payments for 1-3 months while fees are paid
• After month 3, creditors start receiving regular payments
• All fees are included in your monthly payment – no extra money needed

Step-by-Step: The DebtBusters Process

✅ Benefits and Drawbacks

Benefits of Using DebtBusters

• Legal protection – Creditors cannot take legal action against you
• Lower payments – You pay less each month than before
• Lower interest – DebtBusters negotiates to reduce your interest rates
• One payment – Instead of many payments, you make just one
• No harassment – Creditors must stop calling you
• Asset protection – Your car and house are protected from repossession
• Professional help – Experts handle negotiations for you
• No new loans needed – Unlike debt consolidation loans
• Award-winning service – DebtBusters won 9 national awards

⚠️ Drawbacks to Consider

• No new credit – You cannot get loans or credit cards while under debt review
• Long commitment – The process takes 3-5 years on average
• Cannot exit early – Once started, you must finish or pay all debts
• Credit record flag – Your credit report shows you are under debt review
• Fees apply – You pay fees for the service (but these are regulated)
• First months have no creditor payments – Months 1-3 go to fees
• Must have income – You cannot be unemployed

🚨 WARNING: Debt Counselling Scams in South Africa

There are many fake debt counsellors in South Africa. They will steal your money. You must protect yourself.

Red Flags – Never Trust Anyone Who:

• Asks for upfront payments – Real debt counsellors include fees in your monthly payment
• Promises quick fixes – “Get out of debt in 3 months!” is a lie
• Asks you to pay them directly – You must pay a registered PDA, never the counsellor
• Guarantees debt write-off – Debt counselling does not write off debt
• Cannot provide NCR number – All counsellors must be registered
• Pressures you to sign immediately – Take time to think
• Has no physical address – Scammers operate from unknown locations
• Offers to remove debt review for a fee – This is illegal

Common Scams Targeting Debt-Stressed People

What to Do If You Are Scammed

1. Stop all payments immediately – Contact your bank to cancel debit orders
2. Report to NCR – Call 0860 627 627 or email complaints@ncr.org.za
3. File a police report – Get a case number for your records
4. Contact SABRIC – Report financial scams
5. Check your credit report – Get a free report from any credit bureau
6. Get legal help – Contact the National Consumer Tribunal if needed

Alternatives to DebtBusters

DebtBusters is not the only option. Here are other registered debt counsellors and alternatives you can consider.

Other Top NCR-Registered Debt Counsellors (2025)

Company	Special Features
National Debt Advisors (NDA)	Smaller company, more personal service
Debt Rescue	Personal relationship manager, extended hours
National Debt Counsellors (NDC)	Free assessment, established company
DC Experts	Over 10 years experience, award winners
Meerkat	Uses Hyphen PDA, good track record
FinFix	Focus on emotional support during process

Debt Consolidation Loans

This is taking one loan to pay all your debts. You then have one monthly payment to the bank.

Banks offering debt consolidation:

• African Bank – Specialises in debt consolidation, 12-72 months terms
• Capitec – Personal loans up to R250,000, 84 months to pay
• Nedbank – Low interest rates, flexible payment terms

Negotiate Directly With Creditors

You can try to negotiate with your creditors yourself. Call each one. Ask for lower payments or reduced interest. This is free but takes time.

Voluntary Sequestration (Bankruptcy)

This is a legal process that writes off 80% of your debt. Only use this as a last resort. You lose your assets. You cannot get credit for years.

Who this is for: People with very high debt and no way to pay. Not recommended for most people.

📞 How to Contact DebtBusters

⚖️ Important Regulatory Bodies

These organisations protect you. Contact them if you have problems with any debt counsellor.

DebtBusters is a legitimate, registered debt counsellor. They have helped over 150,000 South Africans. They won 9 national awards. Their fees are regulated by the NCR.

Use DebtBusters if: You have too much debt. You have a regular income. You want legal protection from creditors. You are willing to commit to 3-5 years of payments.

Do not use debt counselling if: You are unemployed. You can afford your current payments. You need new credit soon. You have very little debt.

Always remember: Check the NCR registration number. Never pay upfront fees to individuals. Use only registered PDAs for payments. Get everything in writing. Read all documents before signing.

Free help is available. DebtBusters offers a free assessment. The NCR provides free consumer education. Contact them before making any decisions.