Tag - debt review

What to do when you fall behind on repayments

Lindi wrote to me looking for advice regarding her car repayments. She had fallen behind on her repayments to BMW Finance as her business was in financial difficulty. She wanted to find out if she could hand back the car to the financial institution and what the implications would be on her credit profile. By the time I received the query, BMW...

Become your own debt reviewer

By Wikus Olivier, debt expert at DebtSafe Debt is an issue that most South Africans unfortunately find themselves facing for most of their adult lives. Every individual deals with different forms and scales of debt, but for some, their debt spirals out of control. This is when a professional debt review service, such as DebtSafe, comes into play...

How to get out of debt review

If you can prove that you are able to start making regular payments, you can request to end your debt review. When Joseph Masemola’s debt began to spin out of control in 2010, he applied for debt review via a debt counsellor. Since then, he has managed to settle and clear all his debt with the exception of a Nedbank personal loan and a...

Overwhelmed by debt? Call the debt hotline

The National Debt Mediation Association (NDMA) was created as a non-profit centre where consumers can lodge complaints about credit providers as well as issues with the debt counseling process. However, Magauta Mphahlele, CEO of the NDMA, says they were receiving many calls from consumers who did not necessarily require debt counseling but who...