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Many people are trying their best to lead a debt-free life. Even though it has its perks, incurring debt can also be a good thing. You just need to differentiate between good debt and bad debt. In short, good debt helps you generate income and bad debt doesn’t. Below are examples of good and bad...
When you have a lot of debt with various providers, it can be difficult to focus on which credit agreements to settle or contribute to first if you come into a lump sum of money. There are two techniques that are generally used when it comes to prioritising which debt to pay off first. You...
Credit life cover is one of the last things that people think about when they are doing their financial planning. In fact, the National Credit Regulator has found that many people do not know it exists and what it entails. But purchasing credit life cover is one of the best things that you can do...
Women face a number of challenges and transition between the ages of 25 and 69. Some of these challenges can be attributed to the financial transitions they experience. These transitions can range from landing their first job, marriage, childbirth, losing a spouse through divorce or death, retrenchment, terminal illness and retirement. Both women and men...
Buying on credit can help fulfil your family’s needs and dreams – schooling, clothes, family holidays etc. These things do not come cheap, but the actual price can be costlier than you think. Being over-indebted can cause anxiety, loneliness, depression, and anger. You may think that, since you are the one who is struggling to...
Entering the debt counselling process can be overwhelming. You may have questions about how this will affect your credit score, how long the process is, and how much this will cost you. But if you’re partnered with a responsible and trusted debt counselling company you will be guaranteed peace of mind. When selecting a debt...
Undergoing debt counselling can have you feeling empowered, but what if you are retrenched during the process? What happens next? The National Credit Act (NCA) states that you need to be able to afford consistent repayments if you are under debt counselling. This is so you can pay off the repayment amounts negotiated by your...
Keeping your finances private from your employer is fair, but what if you are struggling to meet your debt obligations and you have subsequently signed up for debt counselling? Do they have a right to know? While you may not appreciate the answer, your employer needs to be made aware of your situation.  When seeking...
Will you go to jail for not paying your debt? Can your creditors take your car or home? These questions can keep you up at night, adding to the financial stress you already have. We have the answers to the common debt questions many consumers are afraid to ask. 1. Can you go to jail...
Let’s face it, life can be expensive. You can go from being on top of your finances to drowning in debt very quickly – whether it be due to unforeseen medical expenses, a terrible car accident, loss of income, or simply not being able to keep up with day to day expenses. For this reason,...
The Intelligent Debt Management (IDM) Group has once again received the highest industry accolade at the annual Debt Review Awards for two of its subsidiaries – DebtBusters and Consumer Debt Help. The gala event held on Saturday, 2 June 2018 at The River Club in Cape Town, celebrated business excellence in the debt counselling industry,...
South African consumers were dealt a hard blow in April, with the VAT increase coming into effect at the beginning of the month, as well as the introduction to some new taxes. To add to this, consumers also had to prepare for a substantial petrol and diesel increase on 3 April. 95 ULP and 93...