ARTICLES RELATING TO DEBT

Watch your credit, urges watchdog

2013-06-19 07:29

Consumers must monitor their credit health and approach their debt counsellors and credit providers for assistance, urges the National Credit Regulator.

Beware recycling of old debt

2013-06-18 11:22

Debt collectors are continuing to collect millions of rands from consumers who are not legally bound to repay, warns debt expert Moeshfieka Botha.

Debt not all bad

2013-06-14 12:02

Knowing the difference between good debt and bad debt will help lighten your debt load, says an industry expert.

13 nabbed for unlawful lending

2013-06-11 14:53

The National Credit Regulator is clamping down on unscrupulous micro-lenders, with the police arresting 13 people in the Northern Cape.

I dealt with debt on my own

2013-06-11 10:53

A Fin24 user who did it on his own without debt counselling says people should learn to face up to the reality of their financial situation.

Getting rid of the debt monster

2013-06-06 14:14

A Fin24 user says his life has become a debt nightmare.

CEOs: Easy credit to dent economy

2013-06-05 11:29

Almost 70% of CEOs anticipate that the extent of unsecured lending will negatively affect the South African economy this year, a survey shows.

Retail therapy a killer, warn experts

2013-06-04 13:39

It's meant to make you feel better but could turn into a potential debt disaster as you end up buying what you don’t need with money you don’t have.

My debt review success story

2013-06-03 16:24

A Fin24 user tells how she picked herself up from a debt mess by going the debt review route and following strict fiscal discipline.

Experts warn of debt timebomb

2013-06-03 11:47

The number of people applying for debt counselling has risen dramatically and many are in grave danger of losing their homes and vehicles, experts warn.

The burden of debt

2013-05-31 11:47

The results of Fin24's debt survey, which was completed by nearly 30 000 people, show that over a third of respondents never have money left over at month-end.

Keep your credit record healthy

2013-05-30 16:22

Because, these days having a bad financial rep also jeopardises your chances of finding a job.

Tracing agents don't do car spy chases

2013-05-29 12:50

I am strictly office-bound, says an incensed Fin24 user who sets the record straight on exactly what a tracing agent is - and isn't.

Capitec: We don't push lending bubble

2013-05-28 19:32

Capitec says it applies the most conservative credit criteria in the unsecured credit industry, after reports that it is promoting large unsecured loans.

Watchdog to probe social grant loans

2013-05-27 22:18

Public Protector Thuli Madonsela will do a preliminary investigation into claims of social grants being used to operate an illegal loan scheme, her office says.

R17 000 for a debt of under R3 000

2013-05-24 07:27

A Fin24 user will end up paying almost R17 000 for a debt that was less than R3 000 to start with, thanks to a garnishee order.

Tricked into signing for garnishee order

2013-05-23 09:28

A Fin24 user says he was simply given a document to sign without being told it would allow a garnishee order.

Beware the pitfalls of debt consolidation

2013-05-22 15:42

Are you considering debt consolidation as a quick-fix to your money woes? Be careful because it may come back to bite, a debt expert warns.

Grandson sleeps on blow-up mattress

2013-05-22 07:36

A self-sacrificing couple who are bringing up their grandson hopes he will grow up to hold his head high and follow in their footsteps.

Winnie still owes R27 000 in legal fees

2013-05-21 15:35

An auction of Winnie Madikizela-Mandela's personal items did not go ahead as planned, but she will only be out of the woods once R27 000 in legal fees is paid.

Confusion at Winnie debt auction

2013-05-21 11:03

The sheriff of the court has arrived and left at Winnie Madikizela-Mandela's house in Orlando West, Soweto, to auction items to recover a debt.

African Bank suffers as debtors default

2013-05-20 14:51

African Bank says a significant increase in unsecured lending in the market introduced unacceptable risk among its customer base.

More food price hikes loom

2013-05-19 12:52

The anticipated food price hikes will further burden the many already struggling to pay for expensive electricity and other living costs.

It’s possible to break the debt bond

2013-05-17 09:54

For Tlotlo the wake-up call came when his grandmother died and he couldn’t get his hands on R2 000.

The garnishee problem

2013-05-16 11:34

It is estimated that consumers are being robbed with an overcharge of approximately R1 000 per garnishee order.

 

Consumer credit health drops

2013-06-18 18:32

Consumers' credit health has deteriorated with almost half of all credit active consumers having an impaired record, the National Credit Regulator says.

Sick of being broke?

2013-06-14 15:16

Why does a trip to the store for milk lead to a spending splurge? Discover the REAL reason you spend and reel in your expenses.

Debt cripples relationships

2013-06-13 10:12

An overwhelming 94.5% of survey respondents indicated that their relationships were worse off because of debt.

I became debt-free by 40

2013-06-11 11:13

A Fin24 user made a vow to himself that he would be free of debt by his 40th birthday - and kept that promise.

Petrol hike will bite, experts warn

2013-06-09 22:35

An increase in the petrol price will no doubt have a huge impact on already over-indebted households, experts say.

Credit amnesty doesn’t clear debt

2013-06-06 12:27

Credit amnesty will make access to credit more difficult for consumers, as well as disadvantage them by making it more expensive, experts warn.

Easy credit, hard life

2013-06-05 10:34

A Fin24 user tells how he got sucked into a debt spiral and a never-ending struggle to pay his creditors.

An unorthodox approach to govt lending

2013-06-04 11:31

There should be a central, regulated institution so that lending to countries is fair and not subject to the whims of private lenders says a guest writer.

Hold them accountable for easy credit

2013-06-03 13:14

A Fin24 user who has consolidated her debt feels those who lure people into debt with credit invitations should not go unpunished.

Food prices up 49% in 5 years

2013-06-02 22:03

A snapshot on how food prices have increased over the last five years shows that seven basic items alone have increased by an accumulative 49%.

Capitec in breach of law, says watchdog

2013-05-31 08:02

The National Consumer Tribunal has been asked to investigate Capitec Bank as unsecured loans come under closer scrutiny amid consumer indebtedness.

Customers don't say no to credit - Abil

2013-05-30 06:36

African Bank says it is virtually impossible for the company to take any action if clients who have loans with them accept further credit from other lenders.

Escaping the debt prison

2013-05-29 11:08

A Fin24 user who by her own admission is a big spender who loves clothes has worked out a plan to pay off her debts.

Consumer credit health deteriorating

2013-05-28 12:54

TransUnion has released data reflecting a sustained deterioration in consumer credit health, indicating that consumer credit has fallen sharply.

Concern over Capitec amid debt spiral

2013-05-26 15:30
99 comments

Capitec's move to grant large unsecured loans over longer periods amid consumers' spiralling financial woes does not bode well, a report states.

7 habits of successful debt-free people

2013-05-23 17:51

People who enjoy a debt-free status had to work hard to get there. Here's how they did it.

Not even my husband knows

2013-05-23 07:16

Why there is such a stigma attached to seeking debt aid, asks a user whose nearest and dearest have no idea that she has turned to debt management.

Hidden wealth in your debt

2013-05-22 13:38

An expert believes that using debt consolidation effectively, and earlier in the debt spiral, could eliminate the need for debt mediation.

NCR drops debt counsellors

2013-05-21 17:41

The National Credit Regulator has cancelled the registration of two debt counsellors after probing their activities and compliance levels.

No bidders at Winnie debt auction

2013-05-21 11:44
89 comments

The sheriff of the court would not auction Winnie Madikizela-Mandela's personal items as planned because there were no bidders.

Bid to halt auction of Winnie's goods

2013-05-21 09:04

Last-minute talks are under way to prevent the auction of some of MP Winnie Madikizela-Mandela's personal items to cover a debt to a college, her lawyer says.

Disguised theft

2013-05-20 14:00

A Fin24 user has learnt to always read the fine print and hold her Debt Reviewer accountable when instalments go haywire.

Lifeline for over-indebtedness

2013-05-17 12:01

Money can’t buy happiness, but a lack of money can certainly cause unhealthy levels of stress.

Life of a debt addict

2013-05-16 17:32

A Fin24 user’s tendency to seek out emergencies has resulted in him not being able to even afford a slab of chocolate for his mom on Mother’s Day.

Debt threat hangs over youth

2013-05-15 14:50

More young people face crippling debt as unsecured lending spirals, says an expert.

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