Good Debt vs Bad Debt: How Much Debt Is Normal?
Debt doesn’t always have to be bad news. Of course, we would all love to be debt-free, but debt doesn’t always mean doom and gloom. However, if you are going to take on debt, it should be something worth going into debt for and not something that could land you in a financial nightmare. What […]
How to Deal with Gambling Debt
With multiple major international sporting events taking place every year and weekly lottery draws of eye-watering amounts of cash, it is easy to get swept up in the occasion. During all the excitement, you may be tempted to bet on the ‘big game’, but this harmless bit of fun for many can become a real […]
6 Tips for Getting Out of Debt
Financial problems and debt have always been a common issue faced by most of us at some point in our lives. However, over the last 24 months, Covid-19 has only exacerbated the debt problem. With many South Africans losing their jobs or taking pay cuts, we are seeing a major increase in the number of […]
What are The Benefits of Debt Review?
Debt Review, also referred to as Debt Counselling, was first introduced in 2007, by the National Credit Act 34 of 2005 (NCA). The process was designed to help over-indebted consumers who were unable to pay their monthly debt payments. Debt Review is one of the most effective debt solutions for consumers who are over-indebted. Debt […]
What is Reckless Lending?
Unfortunately, it is not always possible for people to save up and buy goods for cash. Most people rely on credit to buy expensive, necessary things, like a car or a house and in some cases university fees. Despite the implementation of the National Credit Act (NCA), which effectively prohibits credit providers from granting credit […]
How Long Does Debt Review Last?
There are a number of things that determine how long the Debt Review process will last, however, on average, the process usually lasts between 36 and 60 months (3-5 years). This is because each case is unique and is dependent on what you can afford to pay. The Debt Review process is designed to lessen […]
Can My Car be Repossessed While Under Debt Review?
One of the most common misconceptions people have about Debt Review is that they believe their assets are not protected. This is, however, not the case. Debt Review actually prevents you from losing your home, car and other assets. Under Debt Review, a person’s assets are legally protected by the National Credit Act (NCA). This […]