Unscrupulous ‘Uncle’ JD After exposing JD Group for unlawful disability and retrenchment insurance sales to pensioners, the National Credit Regulator (NCR) has requested that the National Consumer Tribunal (NCT) fine the unscrupulous multinational. The retail conglomerate comprises Joshua Doore, Russells, Morkels, HifiCorp, Bradlows, Barnetts, Electric Express and Pride ‘n Price. In addition, the regulator has called [...]
The debt review restrictions and rules, under the National Credit Act (NCA) were put in place to protect consumers from reckless credit providers, over-indebtedness and their own misuse and abuse of credit. Nevertheless, depending on your personal situation, debt review restrictions can really trip you up in some cases. Before committing yourself to any legal [...]
Count Down to Debt Free Life From application to clearance certificate, debt review duration hinges on how long it takes to settle all of your unsecured debts. Even more so, the duration of debt review relies upon whether or not you honour your monthly commitments unfalteringly, as skipping one payment automatically terminates the debt review process. Debt [...]
The newest SA Consumer Confidence Index (CCI) indicates that our perspective of the current economic environment has plummeted to a 14-year low. We are all feeling the effects of slow economic growth, as the price of consumables, services and utilities continues to rise. CCI plunged from 0 to -4 from the last quarter of 2014 [...]
Threat of SA Ratings Downgrade South Africa is facing the threat of a credit ratings downgrade, in which case banks will be confronted with higher levels of bad debt, while consumers will be subjected to a rise in costs, according to the head of First National Bank (FNB), Jacques Celliers. Standard & Poor's (S&P), Moody's, [...]
You need to understand the psychology of debt and seek help from a debt counsellor in order to develop a healthy relationship with your emotions and money. Your finances reflect your state of mind and the only way to sustain any improvements in your financial health is to look inwards and have a genuine change of heart. [...]
Just because you can afford something doesn’t mean you should go ahead and buy it. The best reward you can give yourself for all your hard work is to buy the car that suits your finances. We all too often forget about the cost of maintenance and depreciation in value when it comes to splurging [...]
Why is it that some individuals would prefer to grapple with their debt all on their own, making little progress and sinking deeper into the quicksand, rather than approach a debt counsellor about going under debt review? The truth is that many uninformed credit users still have an unduly negative perception of debt review due [...]
What are the pros and cons of debt review? Having a debt counsellor assess your financial health to see whether or not you qualify to go under debt review, can only be considered a responsible decision and a positive first step towards paying back your credit providers and becoming debt free.However, many individuals are still [...]
Are you employed? Committed to paying your creditors back on a monthly basis? Prepared to help yourself get out of debt? Willing to make the necessary cuts? And ready to accommodate a new lifestyle? You are the right person for debt review, if your answer to all of the above is a resounding YES. Moreover, you need to [...]
