The latest Consumer Credit Market Report shows a concerning trend towards more lending happening in the unsecured space.
Tag - credit
If anyone has made a purchase through online retailer Takealot recently, you would have noticed that you now have an option to finance the purchase through a loan.
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.
RainFin is a crowdfunding platform whereby small businesses can get loans from individual investors, thereby cutting out the middleman.
There is much to be said for renting when it comes to electronics, appliances and even furniture. When I was young, everyone rented a TV, most of them from Teljoy. In those days, TVs were simply unaffordable and credit was not as easily available as it is today. As the prices of electronics fell and hire purchase agreements became common place...
Don't fall into the trap of taking on unnecessary consumption debt in a misguided attempt to build up your credit record.
Proposals to curb the costs of borrowing will be welcomed, but a likely consequence is that less credit will be available.
In this episode of Change in your Pocket, we expose the hidden costs that you incur when taking on debt.
Open up your bank statement and calculate how much of your monthly salary goes to repaying debt. Imagine if, apart from your mortgage, you had no debt repayments – think of all that money now available for savings. The reality is that we have already spent our future savings on cars, credit cards, personal loans and store cards; rather than...
Last month we wrote about the growing global phenomenon of peer-to-peer social lending, which links borrowers and lenders directly, bypassing banks and their fees. RainFin, which was the first peer-to-peer online lending platform in South Africa, announced recently that after being in the market for two years they are now listing around 18 new...