Are You Recycling Your DEBT?

Credit cards can be one of the most divisive products if not used for its intended purpose. And, if not managed with caution, you can quickly find yourself in a bottomless pit of debt. Matthys Potgieter, spokesperson and debt expert at DebtSafe, says many consumers use more than 70% of their income for debt payments

Voluntary Surrender vs. Repossession

Anyone’s financial situation can change overnight. It is nothing out of the ordinary for unforeseen crises (like retrenchment, divorce, life-threatening illness or an emergency) to occur. This can make it difficult to pay your debt instalments. There are two things that you can get confronted with if you can’t pay for the goods that you

Know Your Consumer Rights

An important part of South Africa’s economic growth is consumers’ trust in their preferred product or service providers. They have the right to be offered quality service or products. And should not be exploited to let their hard-earned money go to waste. Customers should, therefore, be protected and valued at all times. As it is

New Affordability Assessment Regulations

In an effort to stop reckless credit granting, the National Credit Amendment Act (NCAA) has proposed affordability assessment requirements. Consumers will find it more difficult to get credit. But at the same time, the new amendment will protect consumers who can’t afford more debt. On 13 March this year, the DTI published the regulations. But

Spending Habits and Credit Cards

People’s cash-flow is getting stretched more and more each month. But if you’re finding yourself relying heavily on your credit card to get you through it’s time to have a serious look at your spending habits. According to statistics from our survey, a little over 50% of the participants indicated that they don’t have a savings