Blog - Debt Consolidation

Blog - Debt Consolidation

Learn More about the National Credit Act

The National Credit Act (NCA) was first established and then signed in 2005 to protect a consumer who enters into a credit agreement with a credit provider. A credit provider is someone, or a business, that provides their services to you on credit. An example of a credit agreement could be a credit card, store…
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What to Look for in a Debt Counsellor

You may find that you have too much debt and are struggling to make ends meet. If this is the case, you might want to consider applying for debt counselling. Before you approach a debt counsellor, it pays to ask a number of questions about what a good debt counsellor is, and what you need…
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Worried About Debt? Choose Debt Counselling

There are many South Africans who are battling to meet their monthly debt obligations. When you are struggling to pay your debt, you could let your creditors hand your debt over to debt collectors – or you can let debt counsellors help you deal with your debt. Wouldn’t it be better to take responsibility for…
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Tips to Help Save on Your Energy Bill This Winter

As social distancing is our new ‘normal’ and we spend more time indoors, it is likely that we will be using more energy in our homes. There are a number of ways to reduce the amount of energy that we use within our homes, and still keep warm. Every bit helps, so even small changes…
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Find Out Why Debt Review is a Better Option to Consider

Looking down from the top of a mountain of debt, you may think it’s too late for debt counselling to help. It seems like somebody should have offered debt counselling long before the base of that mountain was formed. Likely there were warnings from different sectors, but you may have been moving too fast to…
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Too Much Debt? How Debt Counselling can Help

You know if you have too much debt. The awareness may have come upon you slowly but on some level you knew something would soon have to give. You’re worried all the time, afraid to answer the phone because of harassing phone calls. You have no back-up plan if you get sick or your car…
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NCR Debt Counsellor

The National Credit Act Explained

As The National Credit Act explained in 2005, consumers who use credit have rights and protections. Predatory and unfair lending practices are prohibited as is discrimination in lending and the reckless granting of credit. So, under this act, those who meet reasonable financial standards can finance a car, take out a loan and buy just…
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How to Choose a Reputable Debt Counsellor

You may wonder how to choose a reputable debt counsellor to assist with the restructuring of your debt. The National Credit Act allows for debt counselling for South Africans, so select one that has the total skill set. Choose a team of experienced financial advisors that understand and can clearly convey the benefits and legalities…
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Payment Holiday

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 Role of the NCA

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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Understanding Your Financial Status

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

How to Spot a Dubious Debt Counsellor

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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