How the fluctuation of the interest rate affects your debt

Managing your finances doesn't just mean monitoring the money going in and going out of your account each month. It also means considering what inflation will do to your purchasing power and the value of your debt. 

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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.

There are various options available when you find yourself feeling overwhelmed by debt. Make sure you choose the right one for you.

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Financial Wellbeing in the year of Covid.

The festive season is almost here, and it’s been one challenging year.  No one could have predicted what 2020 had in store for us. The Covid-19 Pandemic changed the world overnight.

Not only were we impacted emotionally but our financial wellbeing was deeply affected.  We saw retrenchments and unemployment. People were on reduced pay and there was a general uncertainty of what was to come.


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If I miss a debt review payment what will happen?

As hard as it may be during challenging times, do not miss a debt review payment.   Debt review is a legal process, and your payment plan has been accepted by all your creditors. A court order has also been granted.

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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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Understanding the debt review process

Debt review is a process where a debt counsellor assesses your outstanding debt and implements a restructured debt repayment plan on your behalf. A new monthly payment plan is drawn up by your debt counsellor. When you are undergoing debt review, you are legally protected by the National Credit Act (NCA) and your creditors are no longer entitled to hassle you to repay your debts. All communications are managed by your debt counsellor on your behalf.

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Can I take out credit after debt review?

Are you wondering if you can take out credit whilst undergoing debt counselling?  The answer is no, but for a good reason. If you are making reduced payments on your existing debt, the last thing you want to do is take on  further credit that will make your situation considerably worse. But what about after the debt review process, when all your debt is paid off?

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Paying off your debts could seem impossible but there are options to help you out and make the process a little easier. It is important to educate yourself about your options so that you can make the right decision. Debt review and administration are commonly misunderstood to be the same thing. Here are the main differences between debt review and administration.

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How can I wipe my credit clean?

Have you ever wondered how you can wipe your credit record completely clean? Now the next question you might probably have would be; how do I actually do it? Is it even possible to have my credit wiped out? Well...here's the good news, YOU CAN and IT IS POSSIBLE through a debt review application. Read on to find out how we can both help you and save you more on what you're currently paying.

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We’re often asked if debt review is good or bad and it all depends on your circumstances. If you find you are falling into arrears and you can no longer service your debt with the money you get in each month, you could be over—indebted.  If you are, then debt review is the solution for you. Since debt review was introduced by the NCR National Credit Regulator in 2007 it has provided much need relief for many consumers. Debt review can help relieve stress and anxiety from not being able to pay your debt. Your assets are protected from repossession and at the end of the process your credit record is restored.

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