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3 Important Debt Review Questions

3 Important Debt Review Questions People in debt review often encounter procedural problems and mistakes that make matters worse. Credit providers (CPs) may give the impression everything is the debtor”s fault. Closer examination reveals that CPs make their share of mistakes and have a habit of blaming others.   Here are some frequently asked questions …

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Keep your eye on your money

Keep your eye on your money When consumers enter debt review it is sometimes partially due to them having experienced difficulty managing their monthly budget. It is a challenge to balance what comes in with what goes out. Few consumers run a regular budget before entering debt review. Then after entering debt review and finally …

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contract with your PDA
Signed contract with your debt counsellor?

Signed contract with your debt counsellor? When beginning the debt review process many consumers will be asked to fill in a standard form called a Form 16. This form helps set out the consumers income vs expenses as well as debt obligations to the best of their knowledge at the time. Often times consumers and …

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The DCI call out banks regarding bullying tactics

The DCI call out banks regarding bullying tactics Protections under the National Credit Act (NCA) do not appear to prevent banking ‘bullies’ resorting to intimidation tactics when pursuing debtors, claims the DCI founder Debt Counsellor Deborah Solomon. She says she has uncovered a pattern of banking industry behaviour that indicates “cant respect” for debtor rights …

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Confused consumer
Confused consumer owes more now than four years ago

Confused consumer owes more now than four years ago This weekend Bloomberg reported on the experience of one South African Consumer’s experience with African Bank. Ntseane is a mine worker in the north of the country. Over the past few years Ntseane has turned to African Bank for loans on several occasions including when his …

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debt review
30% more debt means more calls for debt review

Though the month of January is only half way through, debt counselling firms are reporting increased numbers of applications for help with debt review in January 2013 compared to January 2012. This is no wonder as country wide indebtedness levels have grown. Consumers have struggled to curb spending and have rather turned to loaning money …

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NCR Tips
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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