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  • Hi There. Someone drove into the side of my vehicle the other day while reversing out of a parking bay. The driver caused 65k damages to my car. He was a foreigner. I took a photo of the accident, his foreign driver’s license, his “uncles” car registration disk and got his cellphone number which he never answers. Is this enough information for my insurer’s to go after them to recover the 65k they will spend on my claim? I have no excess and have been with this company for around 10 years with very few claims. Should I worry about my premiums shooting up? Thank you so much for your advise

    • From personal experience the insurer will only go after him if there is a good chance he has the means to settle the amount. If they don’t believe they will, then it is not worth their time really. Yes it could affect your premiums – it depends on how they view your over-all risk, but it shouldn’t be significant. What you can do is ask them to review the premiums again in about two years if you have no further claims.

  • Hi Maya. My mom had a ABSA Flexi bond of R330000. She got a 2nd bond of R150000. Her new bond was R488000 including fees. She was advised to prepay the loan amount into her bond and she could draw as she needs. She used roughly R100000 of the loan over 12 months. I had a look at her yearly bank statement and was shocked to find they added R100000 to her bond which is now R608000. They added the loan twice and there is no loan balance left which should be roughly R40000. We have been battling for years for with Absa to rectify this problem. Now they are forcing her to sell because she can’t afford the new instalment. PLEASE HELP.

  • My husband and I are separated but not divorced, because he doesn’t want to divorce me. So now he paid lobola to his mistress without my consent, and we are married in community of property.

    • Goodness. As far as I am aware he does not have to agree to the divorce, you can divorce him. I strongly suggest you get legal advice and resolve as soon as possible. Remember any debts he takes are also your responsibility under Community of Property

  • Good evening
    I had paid a deposit of R16000 in November 2019 for my wedding in July 2020 to a catering/decor company . Due to the CoVid 19 I requested my refund. I had not signed any contract with them. The owners are now being very difficult. I even stated they could pay me back monthly but do not want do and keep stating due to the virus they cannot. However they invested my deposit in their business instead of keeping it for my function. Please help

  • Hi Maya,

    thank you, great advice as always.
    We have a flexi bond account, meaning the installment changes as interest rates changes. what i find confusing is that everytime we put in extra into the bond then the following month our bond installment is also reduced , why do the bank do that ? how can i get them to fix my installment to the linked interest rate and not change everytime we put in extra in the bond because i feel like they are countering our efforts to reduce the debt and pay it off earlier..
    Thank you

  • Good day
    I am a fnb client and I do have credit life insurance with them, but was told that I can’t claim during covid and had to take a covid relief loan, which now adds to my monthly debt repayment when I can hardly afford it. Apparently the credit life insurance is only for disability, death and retrenchment. Is this correct and how is it that other banks could provide relief for their clients under the credit life insurance? Do I have recourse on this and where do I go to for clarification?

    As always


  • Is there an ombudsman that handles Credit Life Insurance claims that were unsuccessful? Because according to Hollard Insurance, they could not help me at all with my Direct Axis loan during April and May when I received no salary at all due to the Covid-19 lockdown?

  • Hi Mala,Where can I complain if I was previously on Debt review and has since settled all my debt and have obtained a certificate confirming that,but still unable to obtain credit as there are flags that were not removed,whenever I apply for credit,am declined and currently have no debt in my name ?

  • I applied for debt review and within one year, creditors started calling me for arrangements. I could not find my debt counselor and made arrangements to pay directly. Unfortunately, standard bank blacklisted me even after updating my loan with them. I have paid most of my accounts except for the mortgage and a loan. How was the bank able to blacklist while under debt review?

  • After my retrenchment, my credit life insurance company refuse to cover my debts because they sy my company offered me alternative employment, even though the working conditions did not suit me. Is this legal or not.

  • Hi
    I have a 15 years bond with StandardBank. I’m now left with 6 months of the contract term. I have never withdrawn from my access bond even though the interest rate dropped over the period.
    What will happen to this amount after 6 months?

  • Thank you for this post, Maya. As a financial journalist, it may be worth having another look at this offering as, in my experience this year alone, FNB has been pushing the fusion account more than ever. To me, it borders on reckless credit lending given that it appears to provide a very thin line between credit and actual money. The broader arc of a fusion account lends itself to perpetual debt in favour of the bank. As you say, if you’re not good at managing your money, this could end up in tears.

  • Hi when you bought a home with a bond of 20 years and in six months time you have the money to pay the full bond, how must you go about and wi’ll there be any penalties and will you pay more than the initial bond amount

  • Hello Maya,
    I have 2 bonds . One is R1,500000 , over 10 years. My repayment is R19000. I have paid 27 months which is R513000 but my bond statement is still showing R1.300000. owing. How can I check if this is correct. Is there someone I can pay to check this.
    I have a second bond . Bond amount is R900000 taken over 20 years. I took out the bond in 2012 . Repayment is R 8000. . I have paid to date 96 x R8000 which is R768000 , yet my bond statement shows a outstanding balance of R600000
    Can you help me to check if the bank calculations are correct. What will it cost for this service. Thank You

  • Good day Maya Me and my husband are married in Community of property. We have been under debt review from April 2016.Have been paying every month. But most of our creditors still contact us. Most of our accounts has been settled some 2years ago but still they send letters that they are going to blacklist us.We tried getting answers but via email ,because if we call they can’t assist us or can’t give any answers.Can you please assist me.

  • Good afternoon,
    Please would you be so kind as to assist me. I have been recently informed by a financial advisor that when I retire at age 65, GEPF will only pay me a income or annuity for only 5 years and not longer if I survive, and a percentage in the form of a gratuity. When I visited the GEPF website, it only indicated a ‘monthly income’. It does not indicate a ‘monthly income for life’. However, in your article above it says:

    “In terms of the income in retirement, GEPF provides a guaranteed income for life with a 50% pension for a spouse, should the main member pass away first. The first five years of the annuity are guaranteed, which means if the member passes away before then, the full annuity continues to pay out during the first five years of retirement.”

    Please can you help me I am so confused. I have already emailed GEPF but have not received a reply.

    Kind regards,

  • Hi Maya I employed for da dept of health I was divorced in 2011 and my 50% of my pension was paid to my ex but I was nt notified by da GEPF and my HR about paying bak da 50% I think is nt fair for me to loose so many years of my hard worked service in da department plz advise hw can I get my 50% back thanks