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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:  
Electricity R700
Cell phone R3,000
Vehicle insurance R1,850
Vehicle fuel R1,600
Food & household goods R2000
Life, health & Critical Illness Insurance R800
Bank charges R190
Other R1,800
School fees R1,300
Water rates R2,000
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.

 

Debt Interest Rates Instalments
Credit card 18.00% R56
Gold cheque account 19.75% R356
Gold credit card 18.00% R978
Gold card 17.50% R 1,323
Car finance 13.00% 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.

 

Debt Interest Rates Instalments
Credit card 4.46% R26
Gold cheque account 2.68% R136
Gold credit card 2.68% R955
Gold card 2.68% R648
Car finance 8.16% 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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