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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. Brian & Elize had realised this, but because of the state of the property and their financial predicament they could not get a home loan. Instead they tried to improve the property by taking out personal loans to do the work but they both soon realised they could not get even half way with the loans. Furthermore, the interest rate they were paying was actually driving them further into debt, meaning drastic action was required to save themselves and the property. Mattfin was able to consolidate all the loans debts and all the building costs one home loan facility and, with our specialist building team, we were able to help them completely renovate the property. The total spend was over R400 000 – which including settling all the debt - but the property is now worth in excess of R800 000. Brian & Elize have been paying us for the past few months and we are almost ready to switch them back to the mainstream banks as their credit profile has been cleared and their payment profile is once again good.

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. But we were able to apply for a bond against the property into which we consolidated all his debts. By doing this we achieved two things: the first is we were able to save him from selling the house that he had inherited; and the second is that even with all the costs built in, we were able to save him R6 700 on his monthly debt repayments. The property is now in his name and, as all his debt has been settled, we have been able cleaned up his credit profile. In the meantime, he has established a very good payment profile as he pays us on time every month. We will be applying to switch the home loan back into the main stream banking system within the next month. This means he will now be paying the bank directly (instead of paying us) to carry on servicing his home loan. He has new attitude to debt and a clean credit profile to go forward worry free.

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. When they decided to renovate their house to give their teenage children a little more space, they approached the bank for finance. But although their joint income of R12 000 per month would normally have been sufficient for the bank to lend money, their poor credit profile meant they were turned down. They even looked at taking out an expensive personal loan to do the alterations, but credit issues also meant they were declined. They asked Mattfin for help and while we were able to put together a quotation for consolidating their existing debt by taking out a second bond on their property, we had to inform them that we would not take on the extra debt needed for the alterations until they had proved they could live according to their budget and change their spending habits. We were able to consolidate their existing loans as well as settle their debt that was listed and for which there were judgments taken. We then went to court for them and got their judgments rescinded and removed all the listings from the credit bureaus. Flip and Rene have been paying us for the past six months and we have applied to the main stream banks for our bond to be switched out and transferred to their names. Their total consolidated debt is R300 000 but because of their clean credit record and the good payment profile they have built up, we have been able to secure them an extra R60 000 so that they can now afford to do the alterations that they initially intended to do. The difference being that they can now afford it as it is at the lowest interest rate possible unlike their initial plan of doing them through a personal loan and they have learned to budget properly.

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. Dawie and Magdalena have a combined salary of R27 000 and debt totalling nearly R418 000, including their outstanding bond . Each month, their debt repayment obligations were R11500. Naturally, with an ever rising cost of living, they were unable to repay all of their loans. Soon the judgements started to stack up and the bank even rescinded their account. With their new baby on the way they needed to sort out their lives and get some financial peace of mind. Mattfin was able to consolidate their debt into a single home loan. In doing so, we saved them a whopping R5 800 per month on their repayments. By applying for a second home loan on their behalf, we were able to access sufficient capital to settle all of their short term debt. That meant we were able to start a financial rehabilitation process to clean up their credit profile. We were able to switch them back to the bank in a little over eight months and they now have a home loan with no other debt to worry about. They are even paying extra from the saving we made for them into their home loan which should enable them to pay the new home loan off much faster than normal.