What Does Debt Rescue Mean?

Do you have sleepless nights thinking about how much debt you are in? Wondering “how on earth am I going to pay off all of my debt?” There is an option that can help you to sleep easier at night while you become debt free! Debt rescue may be the right choice for you.

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Is debt review a good idea?

If you are struggling with paying off your debts, you may be considering debt review and may hear differing opinions on the advantages and disadvantages of debt review. Let's look at the comment opinions.

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Debt Management – What are my options?

The more money you owe, the less likely you will be able to repay your debt. The only good debt is money that you borrow in order to make more money, like an investment. Make sure your finances are organised, know who you owe money, decide which debt to pay off and put together a monthly budget.

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Save effectively to keep you debt-free

In an over-indebted country such as South Africa, learning how to save effectively can be just the secret weapon you need to stay out of debt. Yes; it is challenging having to choose between saving for an emergency and paying off debt, but it is important that you do both.

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Debt counselling explained

Debt counselling is a regulated process by the NCR. The process protects consumers from their creditors as no legal action can be taken once the proposed repayment plan has been accepted. It provides an opportunity to regain financial control to avoid future over-indebtedness and at the end of the process a clearance certificate is issued, and the credit record is cleared

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Debt Counselling: Your questions answered.

What is the NCA?

National Credit Act. Act prescribing rules and regulations for the credit industry and sets the groundwork for over-indebtedness and debt counselling.

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The global pandemic has not only changed our lives as we know it, but it has drastically changed the South African economy and in turn, our finances. South Africans have had to change their way of living to suit their new financial situation. Many have been left without any income for months, and are not able to afford the things they are used to, leaving us to make tough financial decisions that will affect our lives for years to come. Here are some ways to keep your finances going in our changed world.  

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Struggling with debt during COVID-19 

Are you struggling with debt during COVID-19? Since South Africa announced its nationwide lock-down back in March, many have been left without jobs or receive a reduced salary and are generally in a bad financial situation. Although the government has provided some financial relief through temporary relief funds, this has proven to not be enough to help the average South African sustain their everyday lives. It may be best for you to take control of the situation yourself. Use this time to review your financial situation and reach out for help where you need it 

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Why you need an emergency fund.

Most South Africans do not realise the importance of having an emergency fund until they need some extra cash. Yet, building an emergency fund is one of the most important steps in taking control of your financial situation.  When life happens and you are faced with an unexpected financial emergency, you need to be able to fall back on this fund rather than turn to debt.   

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Personal finance during COVID-19

You probably have many questions during these trying times...” Will I lose my job?” ...” Will I be able to keep up with my debt repayments without an income” ...? “Will I have enough money to buy necessities at the end of the month” 

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