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.

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.  

Here's some of our finance tips to help you during lockdown.

The COVID-19 outbreak has created panic due to the uncertainty we find ourselves in. The pandemic has caused not only emotional stress and uncertainty but financially too. Between the exchange rate from dollar to rand depreciating to 17,75 and dropping oil prices, it is no surprise you find yourself increasingly concerned by your finances.  How should we be navigating through this challenging time and what finance tips should you follow? 

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?

The start of a New Year is the perfect opportunity to get a handle on your financial situation. No doubt you have made some sort of financial resolution. Save for a holiday? Deposit on a car? How about being responsible and increasing your retirement fund Whatever your financial goals for 2020 our tips below should help you get started.

People tend to spend all their money (and money they don’t have) during the festive season. Gifts and food are the main culprits of this spending! Here’s how to protect your finances this festive season

Are you in debt and struggling to pay it off? Are your assets in danger of repossession? Debt counselling may be the right path for you to take. Debt counselling can reduce your debt repayments to an affordable rate so that you can pay off your debt and have money left over to pay for everyday expenses.

It’s coming to the end of the year and you may be thinking how you can get your finances in order in the new year. The first step you should take is to access your credit report and really look at it. This will show you the current state of your finances. It’s a great starting point and you need to understand your credit score.

You have probably heard about debt counselling and may be thinking it is a process that can benefit you.  We’re often asked how long the process can take.

You can never predict when an emergency may happen and what that emergency might cost you. It could even add to your already growing debt Be prepared and start saving up an emergency fund so you can be financially prepared for when life happens.