South African households appear to have a better handle on debt levels, but this could be at the expense of savings, especially for emergencies.
Category - Borrowing
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...
Your joint mortgage may form part of your partner’s debt review without your consent.
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.
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.