NCR advice on debt management

2016-06-22 06:00

THE National Credit Regulator is advising the youth to manage their debts, especially the use of retail credit and/or store cards and student loans.
The advise comes amid June being Youth Month, says Mpho Ramapala, NCR manager: education and communication.

The National Credit Amendment Act states that prospective employers can check credit reports of prospective employees prior to employing them if it is for a position that requires trust, honesty and handling of cash.
So it is critical that the youth manage their finances well when they are still studying.

Tips for students:

• Don’t take credit you cannot afford to repay.

• Pay your monthly installments on time, pay the stipulated amount;

• Don’t start your career and/or working life paying back unnecessary debt you acquired while studying.

Youth should stay young, gifted and free and pursue their dreams without fear of being ”blacklisted” (a term used for negative listings at the bureaus) as this will taint their credit records and chances of future employment. - National Credit Regulator.

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