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debt

Four Point Guide to Managing your Debt

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If you find yourself relying on debt and not your income to survive every month, it is a sign that you need to evaluate your finances to get financial stability. Eunice Sibiya, Head of Consumer Education at FNB says “it may seem hard at the beginning to make changes to your daily routines, but looking at the end goal is encouraging. Therefore, you should carefully re-evaluate your budget and prioritise paying off debt as quickly as possible.” For consumers who are battling with debt, … [Read more...] about Four Point Guide to Managing your Debt

NMMU accumulated 2016 fees debt stands at R142.6-million

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The financial stability of South African universities - Nelson Mandela Metropolitan University (NMMU) included - is under severe threat following the national call for free higher education and the implementation of a 0% fee increase in 2016. In 2016, NMMU assisted academically deserving, financially needy students who qualified for debt resolution, giving them the opportunity to return to the University to continue their studies while converting outstanding debt from 2015 into NMMU-funded … [Read more...] about NMMU accumulated 2016 fees debt stands at R142.6-million

Taking on more debt after home loan approval may trigger a reassessment

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8 August 2016 - Home loan customers are often not aware that some banks may continue to monitor their credit profiles and perform updated affordability checks up until bond registration. This means consumers taking on further debt after they have received a home loan approval may find that the approved home loan amount is reduced, repriced or declined all together. "We have found that consumers are often unaware that taking out further debt after their home loan is approved will trigger a … [Read more...] about Taking on more debt after home loan approval may trigger a reassessment

Getting a hold on your debt

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A great deal has been said about the difficulties that the consumer will be facing in 2016, with interest rates currently in an upward cycle wreaking havoc on repayments;  coupled with the rising cost of food and general inflation; a hard look at your debt is in order. "If you feel panicked by the amount of debt you have and you feel you aren't just making it month to month, it's best to start taking action soon, because things are going to get tougher before they get better," warns Eunice … [Read more...] about Getting a hold on your debt

Tips for consumers during the rising interest rate cycle

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The latest increase in interest rates is possibly not the last that South Africans will experience over the course of this year. This is largely due to the weak rand and rising maize prices posing a risk to the country's inflation outlook. Ester Ochse, FNB Financial Advisory Channel Head, says even though the increase in interest rates will benefit those with savings and investments, consumers who are servicing debt will be negatively affected. If you have a prime-linked home loan, the … [Read more...] about Tips for consumers during the rising interest rate cycle

UD Debt Help

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UD Debt Help by Click here for contact info........: We can help you. Is your debt getting out of control? Let us help you rearrange your debts, reduce your payments and negotiate lower interest rates. Contact UD Debt Help Today! Read more here: Click here for contact info........ MyPE actively promotes 041 based businesses - see more Port Elizabeth business and products here. Free Services: Add Your Business | Add a Classified Advert. CLICK HERE to publish your Movers, Shakers, New … [Read more...] about UD Debt Help

4 Reasons why 2016 is shaping up to be “perfect financial storm”

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Several forces are creating the "perfect financial storm" to lead many more South Africans towards cash flow shortages in 2016, Debtbusters CEO Ian Wason said on Monday. Debtbusters has recorded a 113% increase in enquiries about debt counselling so far in December, compared to last year. Wason is predicting the situation is only going to get worse. He points out four key reasons why the debt stress of cash-strapped consumers will increase even more. 1. Increasing tax burden Wason … [Read more...] about 4 Reasons why 2016 is shaping up to be “perfect financial storm”

4 Tips to handle festive season debt

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Don't wait for the New Year to tackle debt, manage your festive season spending and start 2016 financially fit. "Every year we see an increase of about 28% on credit card spend over the December period, but with careful planning and clever management  of this inevitable increase in spending , you can enjoy your festive season without adding to your debt responsibilities," says Chris Labuschagne, CEO of FNB Credit Card. FNB Credit Card has a few tips to help you manage your holiday … [Read more...] about 4 Tips to handle festive season debt

Eskom staggering under Municipal debt

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Municipalities with a culture of non-payment owed Eskom R5.6bn in arrear debt as at September 30, the power utility said on Tuesday. The top 20 defaulting municipalities owed R4.3bn or 76% of the total arrear municipal debt. Eskom has signed payment agreements with 50 defaulting municipalities, including 15 of the top 20 municipalities, the power utility's CEO Brian Molefe said at its interim results briefing. South African local government and the National Treasury have played pivotal … [Read more...] about Eskom staggering under Municipal debt

Should we allow students to incur debt without being able to pay?

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Editor: What happens when an experienced unemployed person who has lost his/her job asks a bank for a loan? Despite a history of being able to earn money that person is turned down faster than lightning. What happens when a young unemployed person who has never worked before but wants to start studying at university asks a bank for a loan? Their application is seriously considered and, so long as their parents also sign it is invariably granted. Am I the only one who sees a problem with a … [Read more...] about Should we allow students to incur debt without being able to pay?

DCGsa (Debt Counseling Group South Africa)

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DEBT PROBLEMS? Consolidate all of your debt into one affordable monthly payment, without taking another loan and having to pay more interest. We are a NCR registered Debt Counsellor and can: *Legally protect you against legal action from your creditors. *Protect your assets from being repossessed including your home and vehicles. Relieve your financial stress today and contact us: 0861001047 e-mail help@dcgsa.co.za. Contact details here: Click here for contact info........ MyPE actively … [Read more...] about DCGsa (Debt Counseling Group South Africa)

Steps to take when you are over indebted

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Being in debt and struggling with monthly payment can be scary however, consumers should know there are ways of getting their finances back on track. Creditors are willing to help and provide solutions but getting out of the debt trap will also require commitment and a change in lifestyle. "While it is always advised that consumers do not take on debt they cannot afford, the reality is that many people do find themselves in trouble and it is important to know that there are systems and … [Read more...] about Steps to take when you are over indebted

The ‘unequal’ debt

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All debt is the same right? Not exactly, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa. “Very often consumers seem to put all debt in the same category, however while all debt is debt, it is not all equal. Identifying the difference between bad debt and what could be considered as potentially good debt will assist consumers to make more informed and better financial decisions moving forward,” says Goslett. Before the global property market downturn, many … [Read more...] about The ‘unequal’ debt

5 Tips when planning for wedding season gifts

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"With spring and summer knocking on the door the number of invitations you receive for weddings are likely to increase. Many people find it difficult to balance what they can afford while not skimping on wedding related gifts. It is important to consider your budget carefully to make sure that you do not put yourself at a financial disadvantage because of someone else's big day," says Eunice Sibiya, Head of FNB Consumer Education. There are ways around attending the wedding and contributing … [Read more...] about 5 Tips when planning for wedding season gifts