Why Does Everyone Talk About Debt Consolidation?

Why Does Everyone Talk About Debt Consolidation?

by | Feb 11, 2020 | Debt

Debt consolidation comes in many shapes and sizes. Banks and credit providers advertise debt consolidation as a solution to people with too much debt. Consumers that have many loans look to consolidate their debt to make the instalments less and easier to manage....
4 Reasons Why Banks Love Debt Counselling

4 Reasons Why Banks Love Debt Counselling

by | Feb 3, 2020 | Debt

Debt counselling was introduced in South Africa in the 2007 National Credit Act (NCA). The process is designed to help over-indebted consumers to get out of debt. This is done by negotiating the terms on loans, such as the interest rate and term, which in turn makes...
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...