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No true consolidation loan

There are some credit providers who offer consumers what they call a “consolidation loan“. These loans can be used to take all the various loans (or credit) a consumer has with various creditors and lump them all together (by paying them off with the new big loan) into one single payment. Interestingly a consolidation loan […]


NCR shift the blame

NCR shift the blame The NCR have recently been getting complaints about the NCR debt help system. This is a computer program used by Debt Counsellors at the behest fo the NCR to update them about the status of consumers under debt review. (even with this system in place the NCR still ask the DC’s […]


Creditors overcharging for insurance on credit?

Creditors overcharging for insurance on credit? At the end of last year Treasury (Along with the NCR and FSB) arranged for a special task-team to investigate insurance products which are bundled with credit products ( Credit Insurance ). When consumers make use of credit this is insured in case of death or in many cases […]


When a consumer applies for debt counselling

When a consumer applies for debt counselling When a consumer applies for debt counselling the Debt Counsellor will ask them to fill in a form with information relating to their situation. The first part of the form will be about where you live, what your ID number is, who your next of kin is and […]


Carte Blanche talk about Debt Review

Carte Blanche talk about Debt Review After a brief look at the psychology behind consumer spending and what part of our psychology marketers use to get us to spend the Carte Blanche episode focused in on the fact that consumers are spending more that they have. Deborah Solomon of theDCI then pointed out that the […]


Drowning in debt? Grab this lifeline

Drowning in debt? Grab this lifeline There are 19million credit-active consumers in SA, of whom about eight million have impaired credit records. Around 14% of these have judgments recorded against them or are under administration. Since June 2007 this figure has steadily grown as the demand for credit increases. Most consumers in SA cannot carry […]


NCR website – debt counsellor details: are they reliable?

The NCR (National Credit Regulator) have a website which has a search function to help consumers find a debt counsellor in their area. Unfortunately not all the names and details shown on that list are accurate. The DCI have conducted monthly calls to debt counsellors countrywide and have gathered more accurate statistics. Deborah Solomon (the […]

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What is Debt Consolidation?

Debt consolidation entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan. Debt consolidation can simply be from a number of unsecured loans into another unsecured loan, but more often it […]


Is it raining debt? Get out of debt fast

Is it raining debt? Get out of debt fast There is a saying that goes: A bank is a place where they lend you an umbrella in fine weather, and ask for it back again when it starts to rain. With today’s high living costs and fluctuating economy many of us are standing in the […]


Debt Counselling Scams

Debt Counselling Scams: how to choose a reliable debt advisor Too many South Africans are buckling under the weight of debt. On a daily basis, they are faced with high levels of stress and feelings of despair, because they cannot seem to escape the debt cycle despite their best efforts. Unfortunately, where there is human […]