Which Debt Consolidation Solution Is Better?

Which Debt Consolidation Solution Is Better?

by | Jan 28, 2020 | Debt

Debt consolidation is a term widely used in the credit world. You may have heard of it but are not quite sure what it means. There are quite a few forms of debt consolidation and perhaps a few misconceptions about how they work. To consolidate means to combine a...
Ever Wondered What Happens To Old Debt?

Ever Wondered What Happens To Old Debt?

by | Jan 22, 2020 | Debt

Have you ever wondered what happens to your old debts? It is possible for old debts to fall away, given that a certain checklist is met. We call these prescribed debts. Let’s have a look at how debt becomes prescribed and what you should do if you believe you...
Here’s How The Reserve Bank Rate Cut Affects Those In Debt

Here’s How The Reserve Bank Rate Cut Affects Those In Debt

by | Jan 17, 2020 | Debt

On the 16th January 2020 the Reserve Bank’s Monetary Policy Committee (MPC) went ahead with a repo rate cut of 25 basis points. The South African repo rate therefore dropped from 6.5% down to 6.25%. What does this mean for consumers? The repo rate affects...
The Debt Counselling Process Simplified

The Debt Counselling Process Simplified

by | Jan 15, 2020 | Debt

In 2007, the debt counselling process was introduced as an official debt solution for South Africans. The aim of debt counselling is to rehabilitate over-indebted South Africans and assist them by making their debt repayments more affordable. What does over-indebted...
Getting Out Of Debt Without Getting An Increase

Getting Out Of Debt Without Getting An Increase

by | Jan 15, 2020 | Debt

Not everyone has the luxury of saving thousands of rands a month. Most of us struggle to put any money into savings each month at all. In South Africa, there are more people using debt to get by each month than there are people saving. Although it may not seem like...