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.
Category - Borrowing
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.
CreditVision, a new product from TransUnion, should make it easier to get financing without a credit record.
Illegal loan sharks continue to operate across South Africa, using threats to collect payment, keeping customers’ bank cards and IDs, and charging interest rates so high that the client will never be able to pay it off.
After four months of debt review, a reader is so relieved and happy about the changes in his life, he wanted to share his story.
On 9 August, the new limits on how much a lender can charge for credit insurance came into effect.
If you want to draw down on the equity built up in your property, you may be in for a nasty surprise.
A cap placed on how much a lender can charge for credit insurance could result in cheaper loans, but some warn it could also cut credit to higher-risk individuals.
We’ve lost the plot when it comes to borrowing and saving.
A landmark ruling by the Constitutional Court on garnishee orders will not be applied retrospectively.
Debt review is not as simple as handing over your bills to a debt counsellor – you have to keep track of your credit provider statements
RainFin is a crowdfunding platform whereby small businesses can get loans from individual investors, thereby cutting out the middleman.
I often receive complaints from people who have signed agreements they haven’t fully understood. Unfortunately there is little recourse for the consumer in such cases. Take time to read the fine print.
In order to evaluate the potential risk posed by lending money to consumers, banks will buy people's credit files from a credit bureau.