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What to do when someone owes you money
One of the most common mistakes people make with their finances is waiting too long before they start investing for their old age. And the financial services industry should be doing more to ensure that individuals are saving enough for their later years.
Is you boss deducting too much money form your salary to pay your creditors?
What happens when a company is wound up
When you can apply for your rehabilitation
If you want to keep your spending under control, it's essential that you make a budget. A budget allows you to get a handle on the flow of your money -- how much is coming in and where it goes out. With that information in hand, you can make intelligent choices about how to spend.
Having trouble paying your bills? Getting final notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your car?
How to have listings removed
A brief summary of the rehabilitation process
Debt is a major problem in South African households – and one definitely not restricted to the lower income groups. If you suspect you might be in over your head, brace yourself and take an honest look at these debt-defining signs.
Some useful insight into a new approach that banks and other credit-grantors
are taking with respect to corporate failures
With barely 0,4 percent of domestic disposable income being saved, negative savings is the predominant feature of the monthly budget of most families
An order against a person who cannot pay a debt
When you are unable to pay your debts
Seizing property in lieu of a debt
Steps to take when you cannot pay your debt
If you are labouring under the inconvenience of a bad credit record you will know that when it comes to procuring loans you will either be denied, or you will be hit with higher interest charges to offset the risk. The good news is that you can fix a bad credit score, if you follow the tips below.
If you're constantly wondering where your money goes to, try breaking down your expenses into daily costs — the amount of money you spend every day on your lifestyle.
Anyone who has teenage children should be under no illusion that their little darlings are an enormous financial commitment.
Have you ever considered what you would do if you had an emergency and needed access to money in a hurry? If not, then now is the time to start planning.
You work hard for your money during the year, so don’t let absentminded mistakes over the holidays leave you out of pocket. Here are some practical tips to help you keep financially fit over the festive season.
Is your financial plan up to scratch? Here are some of the questions you should be asking yourself.
Time is not on your side when it comes to saving for retirement. Get your plan in shape now...
It's so easy to get into debt at this time of year, but financial headaches can be avoided if you follow these tips.
Getting married and starting a family is no easy feat financially, but when it comes to second marriages and stepchildren, juggling monthly cash flow, debt and future asset allocation can be a minefield.
A credit card is seen as a symbol of status. But it's also a symbol of debt — the easy lending facility we can use when we're broke but still need to spend. It's the single easiest way to borrow money, often more than we intend to.
Cellphones are wonderful. They're so convenient, essential for keeping track of business and friends, and many of us would be lost without them. But it's so easy for cellphone expenditure to get out of hand.
We can cut our credit card bills, pay off store accounts and even settle our bonds but there is one rising expense that we have to pay for the rest of our lives: grocery bills. With the cost of food going up at an alarming rate it is vital that we get a handle on how much we spend at the supermarket.
You know you have to do a massive clean-out, but what do you keep and what do you trash? Many people have had the unfortunate experience of finally throwing the guarantee form stuck on the fridge for 10 months only to have it break down the next week. So here are some guidelines to keeping your papers under control.
Is your credit health is poor, satisfactory or excellent?
It's easy to be afraid of money. We spend our lives chasing after it, and when we've got it, it seems to do its best to get away. What is money and how does it work?
Sounds great doesn't it? Instead of writing out 10 cheques to 10 different creditors you can make one easy payment to a single source and the bill-writing headaches should be gone forever. Better still, by consolidating your debt you could get the added advantage of reducing your monthly payments. So what’s the catch?
There is a new credit bill in the pipeline and it is going to significantly change how the lending business is conducted in South Africa. The bill is set to be passed into law in October 2005 and become effective from early 2006. The aim of the bill is to prohibit unfair lending practices and combat rising levels of over-indebtedness.
Studies in America revealed that insolvents were better off than the people who continued to battle through their bills in a ten-year period. Provided of course that they did not take on any new debt.
If you have been declined for credit, the credit bureaus will not know why you have been turned down. Only the credit lender with which you have made the application can tell you why your application was declined. Most lenders will look at your personal credit report and use it as part of the decision-making process.
Far too many South Africans live beyond their means, racking up debt to support a lifestyle that they simply can’t afford and getting trapped in a cycle of debt.
We may need to become more realistic about our spending so that we're not caught short with expenses that exceed our income. Here are some tips...
There are two main consumer bureaus in South Africa and between them they know just about everything there is to know about your credit activities. But what do these listings actually mean for you?
Today, easy access to credit enables many people to live better lifestyles, but it comes at a price — the risk of poverty in the future. As with all things, you need to learn to strike a balance, or better still, tip the scales in your favour by living beneath your means.
Homeowners have seen the value of their homes double or even triple in the past five years, and the good news is, there's just been another rate cut, this time of 50 basis points. So not only do you benefit from reduced repayments, but the capital value of your home has skyrocketed. Increases in property prices also have a real benefit for financial institutions as risk factors decrease. But by far the biggest windfall is the opportunity to lend their clients even more money. Take care though — this money can come at a huge cost to your long-term wealth.
While interest charges on loans are a fact of life, there are ways to manage them better. Before taking out a home, car, or personal loan, question whether you actually need it. Make sure you have exhausted all other options, and the reasons for taking on the debt are sound.
Major retail banks are offering to consolidate your debt, claiming that you’ll end up paying a smaller total every month. Is it really that easy? Old Mutual Bank product manager Ben Stander answers some commonly asked questions about debt consolidation.
The Credit Ombudsman answers questions on blacklistings, defaults, judgments, etc
Learn how to use credit cards wisely so that you don't get buried in credit card debt.
Certain provisions of the National Credit Act No. 34 of 2005 deal with over-indebtedness and restructuring of debt.
What to keep in mind when borrowing money from family