You are Here > Home > Podcasts > Listen: Pros and cons of debt counselling

Listen: Pros and cons of debt counselling

Feb 5, 2021

For many people COVID has had a major financial impact and some may be considering entering debt review. In this podcast Maya (@mayaonmoney) speaks to David O’Brien of debt counselling firm Meerkat to explain how debt counselling works and how to choose a good debt counsellor – because there are a lot of bad apples out there.

They also discuss what to do if you are already in debt review and want to get out.

6 Comments

  1. Please could you assist me with some reliable debt companies

    Reply
  2. I want to get out of debt review.Please assist with a way to exit debt review please.

    Reply
    • Hi Maya we need advice. We been under debt review since 2013 at the moment we only have our bond and vehicle. Can we request our debt councellor for a clearance certificate or only when we have our bond to pay.

      Reply
      • In some cases you can come to an arrangement on the vehicle – your debt counsellor should be able to provide some information around that

        Reply

Submit a Comment

Your email address will not be published. Required fields are marked *

Maya Fisher-French author of Money Questions Answered

Previous Articles

SARS gets serious over non-compliance

Jashwin Baijoo, Legal Manager, Africa Tax and Compliance at Tax Consulting SA, warns all non-compliant taxpayers that SARS could be coming for them sooner rather than later. In media statements in recent months, the South African Revenue Service (SARS) has made clear...

Should I use my retirement lump sum to settle my debt?

A question that I often receive is whether it's a good idea to use one's lump sum on retirement to pay off short-term debts, such as car debt or one's credit card. For example, Ntombise recently wrote to me: “I have just retired from work and expect a lump sum...

The 2022 survival budget

As if the last two years were not tough enough, there is no silver lining awaiting us in 2022. In 2021 we absorbed further fuel-price increases, a 15% hike in electricity costs, and an interest-rate increase of 25 basis points – and this is only the start. It is...

Listen: Are you in a financially abusive relationship?

Are you the victim of financial abuse or are you perhaps unwittingly the abuser? And how would you even know? In this podcast, we discuss the very sensitive topic of financial abuse: how money is often used to control people in relationships. Maya (@mayaonmoney)...

Listen: Is cash now trash?

Despite the recent rate hike, interest rates since the beginning of the pandemic have fallen by around 30%. This is great news if you’re borrowing money, but it is pretty dire for anyone investing in cash or relying on income from cash investments. In this podcast...

Pay off my bond or invest?

Stephen Katzenellenbogen and Brendon Wright of NFB Private Wealth Management address a common dilemma faced by many: should I put all of my spare cash into my bond, or invest it instead? Many people are working towards the goal of being free of all debt, including...

Listen: How to bootstrap a business with R6 500

In this podcast Maya (@mayaonmoney) speaks to Mantsha Pheeha, a business strategist at Talent Unleashed, about how to bootstrap your startup by creating a pilot project. Mantsha worked with Nocawe, winner of this year’s Absa City Press Money Makeover Challenge, to...

Listen: Advance payments on your car finance

We did this podcast a year ago, about paying off your vehicle and home loan sooner – but I thought it was worth sharing again, as Absa has now released updates on its banking app for car finance. Absa car finance customers can use the app to pay in additional funds to...

When debt review works

Going into debt review is like going on a diet: it’s difficult to stick to and the results won’t be immediate, but it can be life changing. While there are serious issues around the way some debt counsellors conduct themselves, for Grace Bekwa, debt review gave her...

Listen: Creating generational wealth

Generational wealth is passed down from one generation to the next. But ultimately it has different context for different people. Generational wealth doesn’t have to be the Oppenheimer’s legacy. It could be leaving your children enough money to buy a home, or the...

Pin It on Pinterest

Share This