Debt

There are a huge number of South Africans who are struggling with debt. The Covid-19 pandemic certainly added to our country’s debt, and there a still a great number of people who are over indebted. Over indebted means being unable to meet monthly financial obligations. A person is over indebted if he is unable to…

Even if you have a carefully planned budget, it is easy to get carried away when you are tempted with spending more than you should. Like those gorgeous shoes that you must have, or the night out at the new restaurant. The good news is that you can reduce your monthly spending, and still have…

It is another new month and you find you cannot pay your monthly bills again. Statistics show that up to 80% of South Africans are over indebted, in other words, they cannot afford to meet their monthly payment obligations. Both poor money management skills and the use of credit has led to a situation in…

For the second month running, petrol prices are set to increase. This along with increased elecctricity and food prices. It is a fact that costs are going up and the cost of living is increasing. In order to free up a little disposable income, it makes sense to get rid of some of your debt…

A large number of South Africans are struggling with debt. According to the National Credit Regulator, of the 23 million people with credit such as loans, store cards and credit cards, over 45% are considered over-indebted. This means that over 45% of people with credit cannot afford to meet their debt obligations. Fortunately, there is…

For a large number of consumers, managing their debt is a necessary priority. You may have heard the words ‘debt counselling’ and ‘debt consolidation.’ But what are they, and which is the best option to choose? It is best to understand what each of these terms mean. Once you have a better perspective of each,…

Finding it a struggle to meet your monthly financial obligations? Are your bills more than your income? It may be that you are over indebted. Consider debt counselling. In 2007, the National Credit Act introduced debt counselling. In a nutshell, debt counselling is a legal process that provides for a consumer to be declared over…

If you’re in debt, not earning enough money, or lost your job due to the pandemic can lead to financial stress. Stress of any kind plays havoc with your emotional and physical well-being. If you can reduce your financial stress, you’ll be able concentrate on other, important areas of your life. You’ll gain peace of…

You may now have reduced hours or a change in your work schedule as a result of the Coronavirus pandemic. While this may feel overwhelming, there are a number of things that you can do to help you budget properly during this challenging time. First things first: Create a budget: this is always important. Have…

We are aware of the National Credit Act and what it does. There are, however, acronyms that are similar and can lead to confusion. The NCA is the National Credit Act. The NCA was signed into law on the 15 th March 2005. There is also the NCR, which stands for the National Credit Regulator.…