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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Don't dip into your retirement savings to cover your debt.

Tapping into your retirement savings early can have a long-term devasting impact. If you find yourself changing jobs with the option to cash out your fund to pay off your debt. Don’t. You will accumulate more debt when you stop working to fund your retirement.

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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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Take control of your emotional spending

Shopping has become a huge part of today’s society. Advertising has taken over with the technological advancements that have become a part of our daily lives.  Whenever you turn on the TV or simply open your smartphone, adverts trying to convince you to buy their products pop up constantly. No wonder emotional spending has become such a huge problem in many of our lives.   Do you know what your spending habits are?

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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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During a crisis, there is often a high level of uncertainty caused and this pandemic is no exception. Managing your money, and maintaining your budget is proving to be challenging. People have suffered retrenchment, reduced hours, and wages as well as increased medical expenses. 

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Meerkat's guide to your finances

It’s always good to learn about finances. Here we provide a guide to your finances. The basics of budgeting, credit, banking, saving and debt are the pillars you need to focus on to not only improve your financial education but you will be able to apply what you learn to make your finances great.  

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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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Want to consolidate your debt into one single repayment?

There are a few options to choose from when looking to consolidate your debt. Some people look to get a consolidation loan but the interest rates can be high meaning you pay off more for your debt overall. If you are already behind on your repayments you are unlikely to qualify for a loan to consolidate your debts and you may want to explore debt review.

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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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