The recent FinScope SA report, which analyses how consumers are using financial products and services, has revealed a concerning trend around credit extension.
Category - Borrowing
Beware the false hope behind debt relief headlines.
In the current economic climate, many South Africans need to borrow money out of desperation just to help them survive. It is here where scam artists and unscrupulous marketers prey on the public,
The pricing cap on credit insurance is good news for new loans, but many existing credit customers are still paying over the odds.
Make sure you understand how your access bond works.
A lack of retirement savings has seen a significant demand from pensioners to use their homes to access capital, especially for medical costs.
When pawning an asset or borrowing money, be very careful about who you are dealing with, understand the terms of the loan and the risk taken and also make sure you know the rules under the National Credit Act as to the fees that are allowed to...
There is a misconception that debt intervention proposals currently being considered could mean that some debts are likely to be written off.
Just because a credit retailer no longer requires a payslip or bank account doesn’t mean they won’t have to do an affordability test.
While regulated lenders do charge less than unregulated loan sharks, it is undeniable that borrowing money in the short term is very expensive and can easily lead to the situation where you are caught in an ever- increasing cycle of debt.