Debt Counselling & Debt Management Articles

Drowning in Debt? Take a Look at the Top 2 Benefits of Debt Counselling

Neck deep in debt? Don’t worry, you’re not alone! Did you know that there are currently millions of South Africans who are in the very same boat as you? In fact, you’ll be amazed to learn that not only are South Africans struggling to pay their debts, but many are also spending up to 76% of their monthly income just on their debts repayments alone. What’s more is that each month, over 15 000 administration orders are issued and over 6 000 vehicles and over 2 000 homes are repossessed. […]

By |February 23rd, 2016|Articles|Comments Off on Drowning in Debt? Take a Look at the Top 2 Benefits of Debt Counselling

A Basic Guide to Working with a Debt Counsellor

It’s no secret that debt has become a widespread epidemic in South Africa, and in light of the recent statistics from the National Credit Regulator – of the 20.08 million credit-active South Africans, a total of 9.76 million consumers have impaired credit records. In fact, South Africans are paying 76% of their monthly salary towards their loans and debt repayments. When you add this percentage to increasing food inflation, fuel and utilities, you could easily say that millions of South Africans are teetering on the edge of insolvency. […]

By |February 22nd, 2016|Articles|Comments Off on A Basic Guide to Working with a Debt Counsellor

When Sequestration is Best in South Africa

Sequestration may be the best option if you are living in South Africa and struggle to pay your debts.

If you are behind on mortgage and vehicle payments or your vehicles have already been repossessed, you have judgments against you or you are on the verge of being unable to pay for any of your major accounts, then sequestration may just be the answer. […]

By |February 19th, 2016|Articles|Comments Off on When Sequestration is Best in South Africa

Why Debt Counselling is Crucial in South Africa

A large portion of the population in South Africa pays over 75% of their monthly income to creditors, leaving them with very little disposable income. With the remaining 25%, they have to pay school fees, buy food, pay transportation, energy and other daily living expenses. With no money left, consumers often turn to their credit cards or start to buy food on credit using store accounts. The consumers thus stay in debt and even one emergency, such as a family member passing away, vehicle accident, parents retiring without the ability to be financially independent or major dentistry needed, can push them over the edge. […]

By |February 19th, 2016|Articles|Comments Off on Why Debt Counselling is Crucial in South Africa

Debt in South Africa Spiralling Out of Control

South Africa has one of the lowest saving rates in the world with reasons including low disposable income, low growth in income, low employment rate, high tax rates, the high inflation and little confidence in the South African economy. However, add to the above, the eminent debt problem in South Africa with over half the credit-active population being over-indebted and it becomes clear why so few people save money for rainy days and their retirements. […]

By |February 19th, 2016|Articles|Comments Off on Debt in South Africa Spiralling Out of Control

Why South Africans Need Debt Help

Over 11.1 million consumers in South Africa have more debt than they can afford and in many instances, consumers pay two thirds of their monthly income towards servicing their debts. More and more people in South Africa are in need of immediate debt help. The rising living costs, taxation and the overall economic slowdown in the country are contributing factors. […]

By |February 19th, 2016|Articles|Comments Off on Why South Africans Need Debt Help

How Debt Assistance Can Save You from Sinking After the Silly Season!

You’ve made it through the silly season, but that doesn’t mean that the stress is over. In fact, now comes the hard part, and that’s paying back all the money you borrowed and spent over the silly season. It’s a given fact that consumers are reckless over Christmas – just one glance at last year’s consumer debt report and you’ll see that South Africans love to spend, especially on credit. […]

By |January 22nd, 2016|Articles|Comments Off on How Debt Assistance Can Save You from Sinking After the Silly Season!

A Useful Guide to Voluntary Liquidation in South Africa

It’s no secret that business is tough, and while it’s every entrepreneur’s objective to have a thriving business, it’s not easy in today’s volatile economy. Did you know that in today’s competitive world of business, up to 80% of businesses fail each year? Measured and forecasted against a worldwide average of one out of two businesses that fail within the first year, it is a recognised fact that five out of seven new businesses will fold within their very first year in South Africa. […]

By |January 19th, 2016|Articles|Comments Off on A Useful Guide to Voluntary Liquidation in South Africa

Make Tackling Debt Your 2016 New Year’s Resolution

Had a really difficult financial year and now to top it off, Christmas has just arrived? It’s no joke surviving in today’s difficult financial climate. In fact, thousands of South Africans are teetering on the edge of insolvency. The reality is that life has become hard and expensive and not only has the price of […]

By |January 7th, 2016|Articles|Comments Off on Make Tackling Debt Your 2016 New Year’s Resolution

Start the New Year Debt Free with Voluntary Sequestration

Had a really difficult financial year and to top it off you’ve just received a foreclosure notice in the mail? It’s not easy surviving in today’s difficult financial climate and inactive job market. Life has become expensive – not only has the price of food sky-rocketed, but electricity, water, fuel, interest rates and school fees have also left a huge dent in our pockets. […]

By |November 24th, 2015|Articles|Comments Off on Start the New Year Debt Free with Voluntary Sequestration