MD
Marcos D

1 reviews | Active since Apr 2010

29 Jan 2019, 15:00

Debtbusters ineptitude is costing me R8000, I seem to be one of many with this problem!

I have been under debt review for almost 4 years. Never missed a payment or any requirements to submit documentation. End of 2018 my balances were nearing zero for some accounts and even went into a credit balance. I inquired as to whether these had been paid off. Without explanation my next statement showed that my Absa account went from -R600 to +R8000. I.e I went from not owing money to owing R8000 extra on that account. I made further inquiry regarding this. I was told that Debtbusters had the wrong balances and the revised balances were correct and I should accept it as such. I was further told that this is stated on the Hyphen statements I receive. (For clarity the actual wording is: should you not be in agreement with this statement in any way, please contact your Debt Counselor). I had no reason to think this was incorrect. This seemed ridiculous to me so I investigated further. Debtbusters really was useless here. If I went only on Debtbusters "word" I would have believed that this additional R8000 was correct and I would have paid it. Thankfully I have some financial acumen and deduced that the extra money came from the interest charged on the account. Long story short, the initial restructuring was NOT done properly by Debtbusters. The installment amount was changed but the interest rate was never negotiated with Absa (confirmed by Absa). So for 2 years while waiting for the court case I paid a tiny installment and my ORIGINAL interest rate because Debtbusters did not correctly complete the procedure. This resulted in the additional R8000 suddenly appearing when I should be finishing my debt review. I did contact Absa, they confirmed an initial proposal was not sent to them or negotiated by Debtbusters. They also assured me that if a proposal had been sent, they would most likely have restructured the interest as they do try assist people out of debt.

Debtbusters has not been helpful at all. Up till very recently Sumaya Dawood has done her best to convince me that this is my problem and to just suck it up. Since my last few emails to her which I believe elucidate the mismanagement of my account I have heard nothing.

So Debt"Busters", you f'd up, tried convince me that I'm wrong and now ignore me when it's obvious that it was your fault. Please fix this ****. I could have been out of debt now if it weren't mismanaged. Now I'm paying 8k extra because of you not doing what was promised.

PS Ive tried emailing the ceo blah email. Weeks ago, no response.

0
Replies (2)
DebtBusters SA
DebtBusters SA's reply29 Jan 2019, 19:10
Official
Good day @Marcos D

Your review has been escalated. Please allow us to investigate your client profile and a Dedicated Manager will be in contact with you within the next business day. 

Regards
The DebtBusters Team 


MD
Marcos D's update08 Feb 2019, 09:31
Reviewer Update
ABSOLUTELY USELESS!!! DON'T USE DEBTBUSTERS PLEASE.