The past few years have been quite challenging for South Africans, with interest rates and inflation constantly rising. Concerns increase as statistics indicate debt levels for those with a salary of R20,000 or more continues to grow. The latest stats reveal that households are currently spending two-thirds or more of […]
Are there consequences, and what exactly happens when you skip a payment while under debt review? In this article, we answer all these questions and provide best practice principles for when you are under debt review. The National Credit Act of 2005 is in place to ensure that those who […]
A letter of demand can come in many forms, via email or as a registered letter to your home or place of business. But what happens if you decide to ignore an official letter of demand? When you receive a letter of demand, the best course of action is to […]
Creditors usually start sending a Section 129 letter, also called a Letter of Demand, twenty business days after an installment was due. You then have ten days to either pay the debt or respond to the letter with some recourse. It’s important to know that a section 129 letter […]
Understanding your credit score is essential in today’s financial landscape, especially in South Africa. Your credit score plays a crucial role in determining your eligibility for credit and the terms you’ll receive. In today’s financial landscape, your credit score holds significant sway over your ability to secure loans, mortgages, and […]
As South Africa commemorates Freedom Day on the 27th of April, it’s an opportune moment to reflect not only on the country’s journey towards democracy but also on our personal freedoms, particularly financial freedom. Amidst the celebrations and reflections, there’s no better time to break free from the shackles of […]
Credit reports show how well you pay back loans and credit accounts. To borrow money, you need to apply with a lender who checks your history of paying back loans. This is called your credit history and it affects your ability to borrow money, how much you can borrow, and […]
In today’s digital age, convenience often comes at a cost, especially when managing finances. Proxy payments, while convenient, can pose significant risks to South African individuals’ financial health. In this article, we’ll delve into what proxy payments are and why you should avoid them to prevent debt. Additionally, we’ll explore […]
Today being in debt is a fact of life. No matter who you are or where you live, chances are you’re in debt, either from mounting credit cards, personal loans, or all of the above. However, not all debt is bad, in fact living a completely debt free life is […]
Retiring with debt presents a unique challenge for South Africans, requiring careful planning and informed decision-making. Our comprehensive guide explores practical strategies and expert advice to help individuals effectively manage debt and achieve financial security during retirement. Join us as we explore a South African perspective on navigating retirement with […]
1ST FLOOR ICON BUILDING
24 HANS STRIJDOM AVENUE
CAPE TOWN
WESTERN CAPE
8000
Registered in terms of the National Credit Act – NCRDC 4077