Case Studies.




Drowning in Debt – how a consolidation loan cleared debts

Dawie and Magdalena have two children and another one on the way. Their problems started when Dawie was retrenched 6 years ago and he took over a year to find another job. During this time they ran up accounts and took out personal loans to try to keep up. But instead of helping them, this just landed them further in debt.READ MORE

Rotten Credit Profile – how borrowing against a home loan restored credit record

Flip and Rene are married in community of property and have two dependent children living with them. They own their own house and, over the last 21 years, and have managed to bring their bond down to R16 000. Unfortunately, they have not been very good with the rest of their accounts and have two judgments and four listings with the credit bureaus.READ MORE

Deceased Estate – how we used a bond to alleviate debt

Peter has been employed for 22 years at the same company. He earns R16 000 and is single.He inherited the family home from his parents, but because of his poor credit record he could not apply for a bond which he needed to transfer the property into his name. Peter had over R190 000 in loans and store accounts. Some were in arrears and some were listed with the credit bureaus. He also had the burden of settling up his parents late estate costs. Peter came to us as a last resort as he was going to have to sell the family house.READ MORE

Debt & Building Alterations

Brian and Elize are married in community of property, they have been together for 15 years and have one child. They are both permanently employed and have a combined income of R18 500. They came to us with a property that was bond free but in a terrible condition. The roof had rusted through and needed replacing, the boundary wall had collapsed and they were half way through redoing the kitchen and bathrooms. Basically, in its current condition, the house had little or no value at all. Luckily for them the area they lived in meant the house could be worth well over R800 000 if it was fixed up properly.READ MORE