Misleading Debt Review Tactics by Sanlam & DebtBusters

Yesterday I received a call from Sanlam claiming I “qualified” for a credit consolidation loan. The call was then transferred to DebtBusters, who tried to mislead me into signing up for debt review under the guise of consolidation. Fortunately, I have knowledge of law and finance and was able to stop them before being *******. What makes this even more alarming is that the call came less than 12 hours after I had logged into Sanlam’s credit dashboard at midnight to view my credit report. The agent openly admitted they saw me checking my credit profile and immediately contacted me with a so-called “solution.” This raises serious concerns about whether the dashboard is being used as a tool to target and trap unsuspecting consumers. Since that call, I have been bombarded with SMS, phone calls, and emails pressuring me to sign a debt review agreement. I sent emails to both Sanlam and DebtBusters, but the harassment continues. Numerous complaints on HelloPeter show that many consumers, without the same financial knowledge, have already been misled into debt review without fully understanding or consenting. This is not an isolated incident—it is a repeated tactic. Sanlam, as a major financial institution, should be held accountable for partnering with DebtBusters in these deceptive practices. Debt review is a serious legal process that cannot be disguised as “consolidation.” Misrepresentation of financial products is ******** and *********, and it places vulnerable consumers at risk. I urge regulators to investigate these practices and for Sanlam to take responsibility for the actions of its partners. Consumers deserve transparency, honesty, and respect when dealing with financial institutions—not misleading tactics designed to exploit them.