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Debtfree DIGI July 2015 - Cover s

 

Debtfree DIGI July 2015 is available to read online for free right now. Read it Now HERE or Download it HERE

Here is an extract from this month’s Debtfree DIGI magazine. Our Editor (Zak King) chats about being cold, bailouts, debt review and the latest industry news.

 

 

editor-note

 

Brrr… Is it just me or has it been freezing recently? It certainly pushes the electricity bill up. Recently the whole of Europe and indeed the world has been keeping a close eye on the situation with Greece trying to pay it’s debts. If you are one of the millions and millions of South Africans who are behind on payments to creditors then it makes you feel slightly better to know that even entire countries struggle to deal with their debt. In fact, watching the whole “Greece” bailout story on the news it makes one feel better about the relatively small amount we may owe our creditors by comparison. Now, you may feel it is a bit unfair that the whole of Europe are trying to help get Greece back on it’s feet and there are these huge bailout proposals being put forward. After all who is helping you to pay off your debts? Certainly not Angela Merkle. That would be a cold day indeed.

Who Needs Bailouts?

That said, who needs bailouts when the National Credit Act is helping hundreds of thousands of South African consumers keep their dignity (and assets) through debt review? While worldwide consumers , lawyers and banks are fighting about how to settle debts, here in SA we have a working legal basis for just such a thing. The number of people applying for debt review remains high at present as consumers are really feeling the crunch from left, right and centre.

EAOs

This month we look at some of the latest controversy surrounding the use of “garnishee orders” (EAOs) that has been in the press. We look at how government wants credit providers to charge less for the credit the offer and the proposed rates they want to be used. It sounds so good for consumers, basically credit for less… but will it have the desired consequence? We also feature lots of other news about the industry (as always).

Spring Is On It’s Way

It has been a bitterly cold winter but spring is on its way. The morning sky is getting brighter earlier. Keep up your debt restructuring payments and before you know it, not only will summer be here but you could be settling those last few accounts and finally get debt free.

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Debtfree DIGI July 2015 - Cover sRead it Now HERE or Download it HERE