Our client has just paid over R400 000 debt in full

He contacted ThuthukaSA late November 2022. He was worried because he is going on pension in 4 years’ time and yet has all these debts. He told Phumelele “ I have been trying to pay them off for a few years now and I am not winning. My wife has been telling me about you and she is insisting I must see you”. In order to have a success story like this customer, you need to be willing to cooperate because after his first consultation, the following debts had been gathered:

Fortunately for him, he has a very good credit record and we were able to get the R440 000 from his home loan. All of the debts above are now paid in full!

He now has R16 258 available every month. We advised him to increase his home loan repayments by R10 000 monthly so that his house is paid off before his pension date. The other R6000 is going to go into savings and investments. The last hurdle is to get him to cut the credit cards. He is at risk of going back into debt unless he cuts those cards.

RCP revolving credit – R209 900

Master card – R127 000

Wesbank – R111 580,26,

TOTAL – R448 480

As interest rates continue to increase, I am very happy for him. He got out of all expensive short term debt just in time. He is now set to enjoy a debt free retirement in 4 years’ time!

If you want advice to get out of debt, you can contact us. Our fees are between R2000 to R5000, depending on the complexity and time involved in each case. In very complex matters, our fees can go higher than R5000. Our aim is to not just get you out of debt, but it is to ensure that you don’t relapse into debt hence we insist on savings and investments, once you are out of debt.

*This is a real life story. Details have been changed to protect the confidentiality of the customer

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