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Debt Solution for Nurse

38-year-old Mrs V is a married professional nurse from Pretoria. She began struggling financially after having a baby and going on maternity leave. As a result of pregnancy complications, she incurred hospital costs that her medical aid did not cover.

 

Salary:
R17,900
Expenses: 
ElectricityR700
Cell phoneR3,000
Vehicle insuranceR1,850
Vehicle fuelR1,600
Food & household goodsR2000
Life, health & Critical Illness InsuranceR800
Bank chargesR190
OtherR1,800
School feesR1,300
Water ratesR2,000
TOTAL:R15,240
Left over for debt repayment:R2,660

 

‘She owed R4,442 monthly, but she only had R2,660 left over for debt repayment’

We crunched the numbers and determined that Mrs V was over-indebted. Below you will find a table that lists the instalments and interest rates she was originally paying before she entered debt review. As you can see, she owed R4,442 monthly, but she only had R2,660 left over for debt repayment – after her basic expenses were deducted.

 

DebtInterest RatesInstalments
Credit card18.00%R56
Gold cheque account19.75%R356
Gold credit card18.00%R978
Gold card17.50%R 1,323
Car finance13.00%R 1,789
TOTAL:R4,442

 

National Debt Advisors made sure that Mrs V could afford her debt payments’

Now, here are the instalments and interest rates that National Debt Advisors arranged for Mrs V with her credit providers.

 

DebtInterest RatesInstalments
Credit card4.46%R26
Gold cheque account2.68%R136
Gold credit card2.68%R955
Gold card2.68%R648
Car finance8.16%R717
TOTAL:R2,519

 

‘She avoided having her car repossessed or her salary garnished’

National Debt Advisors made sure that Mrs V could afford her debt payments, as well as her expenses without struggling. In this way, she avoided having her car repossessed or her salary garnished. Creditors would have taken legal action against Mrs V if it weren’t for NDA’s debt solutions!

Check out the rest of our case studies to find out how we helped a teacher, single mom and more find debt relief.

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