Debtfree

Debtfree Magazine – Editor’s Note

Editor’s Note August 2018 Why won’t this winter ever end? It is almost meant to be spring already. Seriously! It just feels like things are dragging their heels. At the same time, the year is almost ¾ done. Can you … read more

Debtfree Magazine August -The Cover

Debtfree Magazine – Cover The August issue of Debtfree Magazine looks into the hot topic of Reckless Lending. This provision of the National Credit Act can see debt written off if credit is granted to consumers in the wrong way. … read more

Debt Review Awards Open Registrations for 2019

Debt Review Awards 2019 – Registration  Now Open The annual Debt Review Awards process for 2019 is now set to begin and as usual, NCR registered parties will all be considered. To be eligible to win however participants need to register. The … read more

Reducing Interest Rates While In Debt Review

Reducing % While in Debt Review When a consumer enters debt review their Debt Counsellor will contact all their credit providers and get all their latest figures on their various accounts together. Armed with this information, they can look at … read more

Read Debtfree Magazine

Read Debtfree Magazine Now The latest issue of Debtfree Magazine is out and discusses in some detail how consumers who enter debt review and do not take full advantage of the process often fail to complete the program (which can … read more

Debtfree Magazine – Editor’s Note

Editor’s Note Have you ever given a homeless person part of your lunch out of concern that they are hungry, only to be horrified when they reject it or worse, throw it away when they pass the next rubbish bin? … read more

Debtfree Cover

Debtfree Magazine – July Cover The July issue of Debtfree discusses, in part, the harsh reality that debt review alone is not enough to get you out of debt and keep you out of debt long term. We discuss what else … read more

Read the Latest Issue Now

Read Debtfree Magazine Now This month we review the recent Debt Review Awards and catch up with both a Debt Counsellor and the newly registered Payment Distribution Agency. We also discuss coping with the increasing cost of living while under … read more

Debtfree Magazine: Editor’s Note

Editor’s Note For the June Issue   Brrr…it’s cold. So cold that we recently put the heaters on at home, only to get a horrible surprise as the electricity bill shot up (we use a prepaid meter so we can … read more

News

NCR Recall Reckless Lending Investigation Incentive Fee

NCR Change Their Mind About Reckless Lending Fee Guideline The National Credit Regulator (NCR) surprised the debt counselling and credit industry this month by recalling a fee which incentives Debt Counsellors to investigate Reckless Credit. Download the Circular HERE   … read more

No More Selling Gauteng Houses on Auction For Peanuts

Gauteng High Court Rules On Auction Reserve Prices The South Gauteng High Court recently heard arguments from both banks and consumer organisations about the need to set a reserve price on a home that will be sold on auction to … read more

parliament

National Assembly Pass National Credit Act Amendment Bill

NCA Amendments Passed By National Council of Provinces & National Assembly Debt Intervention took one more step towards reality this month when both the National Council of Provinces and then the National Assembly passed the draft NCA Amendment Bill. The … read more

News

NCR Spread Some Love For Debt Counselling

NCR Spread a Positive Message About Debt Counselling The National Credit Regulator (NCR) regulate the credit industry and register the various parties, such as credit providers and Debt Counsellors. One of the requirements of the National Credit Act (NCA) for … read more

High Court Grill ABSA & Standard Bank over Property Auctions

High Court Take Standard Bank & ABSA to Task Due to changes in the law, it is now possible for a court to set a reserve price for a property which they give permission for a bank to sell on … read more

African Bank Alternative Collections Do New Debt Counselling Training

African Bank Debt Review Staff Go For Additional Training Debt review at African Bank is handled by their Alternative Collections Department. Recently the Midrand based team enjoyed new training in regard to the National Credit Act and Debt Review. The entire … read more

Loan Shark Arrested

Illegal Credit Provider Arrested By Hawks A 22 year old, Limpopo man has been arrested for breaking the National Credit Act. Reportedly, the man has been operating for some time as an illegal loan shark and was found to be illegally … read more

Rand Hit By Recession Announcement

The Rand Drops Vs US Dollar in Wake of Recession Announcement The economic year is divided into 4 parts of 3 months (quarters). If over 6 months (2 quarters) the economy is shrinking* then this is defined as a recession. … read more

Wonga UK Crashes & Burns

Payday Loan Specialists Wonga UK Go Into Administration Wonga was founded by South African Errol Damelin and offered UK lenders an easy way to access a small loan via an app on their phone. At the time it was streaks … read more

Living on Less

Discovery Open Vitality Benefits to All

Get Vitality Benefits As A Non Vitality Member Discovery are busy with a big drive to try get people to try out their app and Vitality loyalty program. They have opened access to the app to the general public.   … read more

Debt Review School: Your Debt Counsellor’s Contact Info

Debt Review School It is not uncommon for consumers to lose touch with their Debt Counsellor. You may wonder: How can such a thing happen? Your Debt Counsellor is the person you are now relying on to help with your entire … read more

When Your Contact Details Change

When You Change Your Contact Info It can be exciting to start a new job. Sure, it brings its own stress but also opportunities for advancement and better perks (like more pay so that you can get rid of your debt … read more

Cartoon: Student Debt

Student Debt Cartoon   This cartoon by Randy Glasbergen rings all too true about the state of student debt. In SA, at present, there are two sources of student loans that are commonly used: (1) Government-backed National Student Financial Aid … read more

Check Your Statement

Review Your PDA Statements If you are in debt review and making payments via a Payment Distribution Agency (PDA) then you will be getting monthly statements from the PDA. This may differ somewhat from the figures your various credit providers … read more

How Broke Are You?

Funny or Sad? Times are tough when you are forced to live on less. How tough you ask? This tough: When You're Too Broke To Afford Good Food We've all been there… 😂😂 Posted by UNILAD on Wednesday, 18 July … read more

Student Debt [Photo]

Student Debt We all know that a good education is beneficial in many ways. Sadly it is not always helpful in getting a person a high paying job in South Africa. Former students with a higher education qualification are one … read more

Budgeting

Staying in Debt Review Despite the Increasing Cost of Living

Staying in Debt Review Despite the Increasing Cost of Living Debt review is a fantastic process which can help you repay your debts in a more realistic and achievable manner every month. The process can and will save consumers thousands … read more

Banking Cartoon

Did you know: Banks are allowed to lend out funds as long as they have a little of what they lend out. This is called fractional reserve. This is one of the reasons they like to have you deposit money … read more