Editor’s Note March 2018
A positive attitude can really help when times are tough. A positive attitude can make you focus on the good in your life (or a situation) and minimize the negative. Although the facts don’t change, the way we perceive and experience them leaves us feeling optimistic.
A big benefit to entering debt review is when the “collections calls” stop and finally you have a game plan for how to settle your debts. This leaves you feeling a lot more positive and that attitude spins off into other parts of your life, like your marriage and work. You just feel better, more confident.
Consumer confidence is on the rise as the honeymoon glow of political leadership change and reorganizing continues. Stories about the Guptas are now met with smiles rather than frowns. It seems that even the ratings agencies are impressed and the Rand has been doing well against other currencies.
That is not to say that the VAT hike and increase in fuel costs are not going to put a serious damper on everyone’s enjoyment in the next few weeks and months but most South Africans have been swept up by a background sense of ‘change is possible’, ‘Things can improve’, and that is reflecting in a number of positive ways across the country.
That doesn’t mean that things are not still complicated. Another bank is in trouble and this just goes to show that mistakes can lead to disaster in an industry where Billions and Trillions of Rand are involved. Legislative and political changes can quickly shift the playing field and it can be hard to keep up.
When the NCR recently issued new guidelines on the fees they think should be charged for Debt Review, it was exciting to most Debt Counsellors. They too felt excited and optimistic. But change is hard and as the fee change looms we ask some of the questions that many have been trying to wrap their heads around.
We also consider one of the many reasons why consumers may decide to leave debt review and how it can hurt them. If you have been thinking about dropping out of the process, then be sure to think long and hard and educate yourself on the consequences before making a decision.
Easter time sees many consumers drop out of debt review due to bad decisions. Please be careful that you don’t end up making a big mistake, it could have horrible financial ramifications. Be sure to make your regular debt review repayment, as you look ahead to the future with the confidence that soon, not long from now, you will make your very last repayment, and finally be debt free.