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Our Editor's Note

March is one of those times in the year when many new people enter the debt review process.

Having scraped through Jan and seen the financial devastation in Feb many people realise that the situation is not going to miraculously fix it self. You need to make a call, get some help and take action.

It is not uncommon for people who are in financial distress to hope for some financial windfall, some unplanned, fortunate event that will turn things around for them and finally get them back on their feet.

‘It is not uncommon for people who are in financial distress to hope for some financial windfall’

Sadly, as is demonstrated by the recent oil price hike, it is often the opposite that happens. When presidents go to war it is everyday people who pay the price. Due to conflict in the Middle East, fuel costs worldwide are going up, including here in SA. The speculation has been running wild from R6 – R11 price increases being discussed on social media and in the press. What we do know is that it is going to hurt.

Unplanned events often bring unplanned costs and expenses. Be that a sudden medical expenses or vet bills or maybe it is just Eskom putting the price of electricity again or war messing with inflation. It is not unreasonable to hope for the best but it is very practical to plan for the worst.

And while those things are throwing you a curveball and messing with your plans, your credit providers would naturally like you to carry on paying back what you owe.

In this issue we look at how, when you are in debt review paying off your debts, it can sometimes feel like you are not making much progress even though months and month have passed. This is a common feeling but as you will see is actually inaccurate. Still a big part of paying off debt is about staying motivated to keep doing it. So, check out that article. We also have some recent financial news, including how a Debt Counsellor got fined R90 000. We look at why that happened and how others can avoid the same problems.

We also have an interview with a Debt Counsellor, a deep dive into the new system Debt Counsellors are using to help get consumers debt review records removed from the credit bureaus and more. The issue is jam packed.

So, if you are in debt review, please keep making your debt repayments. If you are dealing with debt stress and are curious how debt review works, we hope this issue helps you choose a good Debt Counsellor. And we urge you to be realistic and not hope that your debt woes will magically disappear.

Things are going to get tough over the next few months. At the very least, please go talk to someone about how you can get debt free.