A Case Study

By: Debt Counselling South Africa  10-19-2013
Keywords: Debt Counselling, Debt Recovery, debt help

The day *Jason Schultz. phoned, Jo answered. After the conversation, which was 45 min long, both Jo, Candice and Jason were in tears. He had a failed business, had an opportunity to start up a new business in the next few months but his creditors were hounding him. Luckily all Jason’s debts were in his own name and therefore we were able to help him and he applied for debt counselling. Candice, who is a Debt Counsellor, explained the whole Debt Review process to Jason. Jason was accepted as a client and we negotiated with his creditors, and explained to them that our newest family member didn’t have a job at the current time but was waiting for a new venture which would start in the next few months. His creditors agreed and accepted all of our proposals to them. Before Jason approached us he was a few instalments behind with all his creditors, his total monthly payments added up to more than R40 0000. This specific debt review case wasn’t the easiest for us as the creditors didn’t want to accept that Jason didn’t have a job and therefore declined all of our negotiations. We proceeded to court and won the case. Jason now has his new business which is doing well enough for him to be able to pay his debt review payments of R18 000 per month. In this specific case we were able to cut his monthly obligations by more than 50%.

Keywords: Credit Providers, Debt Counselling, debt help, debt problems, Debt Recovery, debt relief

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