“Very Informative”: Unemployed Mom Flexes Paying Off R50K Debt, SA Wants the Cheat Sheet

• A mother of two kids told internet users that she managed to pay off her R50 000 debt
• The woman also told people what she did and that she paid less than what was expected of her
• Members of the online community took to the video's comment section to applaud the mother

Paying off debts can cause many people to feel like it's an unachievable task. One Mzansi woman proved it was no battle but rather an attainable goal.

A lady named Lerato, who uses the handle @the.unemployedmom on TikTok, shared that she was previously unemployed and still managed to pay her R50 497 debt.

She brought out her sales book, which documented all her business sales, and told internet users:

"This is where I write my debts. Whatever profit I get from my business, I take that money and pay off my debts."

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Lerato then shared a screenshot of a list of stores to which she owed money. While she needed to pay off more than R50 000, the woman shared that she managed to pay less than required after closing accounts and participating in settlement discount offers.

What the woman owed

The TikTokker owed and paid the following amounts to the various stores after getting a job early this year and renting out her room at home:

1. Vodacom: Owed R890 and paid R579 with a 35% settlement discount offer.
2. Woolworths: Owed R1 747.80 and paid R1 049 with a 40% settlement discount offer.
3. Jet: Owed R2 100 and paid R1 575 with a 25% settlement discount offer paid over three months.
4. Sportscene: Owed R3 735.18 and paid R2 850 with a 23.7% settlement discount offer paid over two months.
5. Zone Fitness: Owed R4 000 and paid R500 after trying to contact the local gym.
6. RCS: Owed R8 300 and paid R5 400 with a 20% settlement discount offer paid over three months.
7. FNB: Owed R30 000 and paid R22 5000 with a 25% settlement discount offer paid over six months after providing a motivational letter.
8. iPhone from Vodacom: The amount was not disclosed.

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The mother of two children told app users:

"I managed to pay R33 953. Talk to your debtors and get into some sort of arrangement. It helps. I saved R16 544 instead of paying the full amount (R50 497)."

Watch the detailed video below:

Debt-paying hack intrigues TikTokkers

Social media users on the popular video-sharing app applauded Lerato and shared their interest in using her method to pay off their debts.

When @pinesize asked Lerato how she asked about the settlement discount offer, she shared:

"I ask them over the phone. When they tell you to come and pay in instalments, ask them about your settlement discount offer."

@witmed.pharmacycl gave Lerato her flowers and said:

"You are so smart, Mommy. Well done."

@sistermbudgets learned a lot from the video and wrote:

"This is very informative."

@mmagirls17, who was in a similar predicament, commented:

"Yoh! I should start paying mine because I haven't been working, and now the interest has accumulated. It is also at R50K."

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A grateful @shazphaweni said:

"I've learnt a lot from this. Thank you."

Lady celebrates paying off R14K debt

In a similar article, Briefly News reported about a woman rejoicing after she paid off a credit account from The Foschini Group (TFG).

The TikTok video sparked many reactions from online users who praised the hun on her newfound financial freedom.

Source: Briefly News