Most financial institutions are offering free payment holidays to help people affected by the virus, including those who have lost their income. This will be of great help to South Africans but the concessions that are been offered should be seen as a last resort. Let me explain why. At the time of writing no…

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NCR Debt Counsellor

The National Credit Act was introduced as a means to help curtail reckless lending. The Act came into effect in June 2007. Before 2007, it was relatively easy to borrow money, or apply for hire-purchase, regardless of whether your affordability was such that you could in fact pay back the loan or the repayments on…

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Your financial status refers to your credit score. It doesn’t refer to your standing within your community, but rather your affordability. A credit score is a statistical number that evaluates a consumer’s creditworthiness and is based on credit history: number of open accounts, total levels of debt, and repayment history. Lenders use credit scores to…

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Free Yourself From A Debt-Filled Life

If you are over indebted and have decided to approach a debt counsellor to assist you with applying for debt review, it is in your best interest to use the services of a professional. It is also in your best interest to use the services of a registered, qualified debt counsellor of good standing. Why…

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The NCA or the National Credit Act is legislation that governs credit in South Africa. The NCA was compiled primarily to protect the consumer. The aim of this act is to, among other things, promote a fair, non-discriminatory marketplace as well as improve the standards of the consumer credit industry. This means it aims to…

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Why not use the new year as an opportunity to improve your financial health by making – and keeping – a few resolutions regarding your finances. Ideally, we all want to be healthier, and wealthier, so making plans for a better future, cutting back on unnecessary expenses and having a savings plan in place is…

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You might be thinking about settling your credit account. Regardless of whether it is a credit card or your clothing store account, now is a good time to do so. Perhaps you have received a salary bonus and have decided to do the right thing and settle your debt. Debt settlement, simply put, is where…

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How you spend your money in December have an impact on your finances in January. Will you start the year anxious about the large debt you have incurred, or will you be pleased and stress-free knowing that you haven’t overspent? Think twice about over spending your hard-earned money during this holiday season. Tis the season…

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You, and probably a large number of people, have likely wondered whether debt review is a good or a bad thing. This question has been asked by sceptics since it was first introduced in 2007 by the National Credit Act. For over-indebted consumers, debt review is a very good thing. It has changed the lives…

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How Not To Overspend This Holiday Season

Tis (almost) the season to be jolly and typically, spend lots of money. If the upcoming December holiday season makes you break out in a sweat over the huge amounts of money you know you will be handing out, consider ways in which to save your money, while still enjoying the merry season. We live…

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