Entries by siteadmin

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NCR Tips for borrowing wisely

NCR Tips for borrowing wisely The NCR has offered the following general tips for borrowing money: Borrow as little money as possible. Borrowing to fund your children’s education or a home loan can be a good thing, but borrowing for consumables such as to pay off other debt or to fund luxuries such as holidays […]

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Avoid over-indebtedness

Avoid over-indebtedness The NCR have offered the following thoughts on being cautious when borrowing money: Although interest rates have come down over the past few years, an alarming number of consumers are still battling to pay off their debts. The National Credit Regulator (NCR) warns that of 19, 10 million credit-active consumers, 8, 83 million […]

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KZN 2 day workshop on Debt Counselling

NCR help KZN government host workshop on debt counselling The KwaZulu-Natal government, in partnership with the KwaZulu-Natal Financial Literacy Association (KZNFLA), the National Credit Regulator and the Justice College, have joined forces to assist heavily indebted government employees. A two-day workshop, on Debt Counselling and Emolument Attachment Orders (commonly known as Garnishee orders), for Employee […]

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NDMA give advice on how to borrow money

The NDMA have spoken out on the subject of how to borrow money on credit: Be savvy about borrowing. With the festive season over, borrowing wisely in the months ahead can mean the difference between a prolonged debt hangover and building a solid financial footing for the year ahead. “It’s back to reality for consumers,” […]

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Ignoring the problem will not make it go away

Ignoring the problem will not make it go away According to Peter Atkinson, National Technical Portfolio Manager at the Financial Intermediaries Association of Southern African (FIA), who says those consumers who find themselves starting the year burdened by debt should seek the assistance of a qualified and experienced financial planner, who can assist them in […]

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Bank credit assurance can ramp up cost of loans

Bank credit assurance can ramp up cost of loans Beware the add-ons if you take out an unsecured short-term personal loan from a bank: exorbitant interest rates – in the region of 30 percent – administration charges and life assurance premiums could see your paying back an additional 60 percent-plus on the loan. The life […]

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Pay your fines or get a bad credit listing

Pay your fines or get a bad credit listing Gauteng motorists with unpaid traffic fines could get negative marks on their credit records according to threatening letters they are receiving. The National Credit Regulator (NCR) says that outstanding debt from traffic fines is not governed by the National Credit Act. The NCR’s senior legal advisor […]

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Ask for a quote before accepting credit – NCR

The National Credit Regulator (NCR) advise consumers to get savvy and that they should ask creditors for a detailed quotation before accepting credit. Further they recommend thinking about the offer rather than just signing it automatically. The NCR say that many consumers ” fail to grasp the important details” before adding their signatures to important […]