your guide to money

My husband and I are arguing about the best way to handle our finanaces. I say it is better to pay more on our bond and use our credit cards for everyday expenses and pay the credit card minimum payment than to drop our bond repayment to the minimum amount payable. Please tell me who is right and why. From : Martha-Ann 2010/08/31 Hi Luke, I went to court in 2008 and was put under administration. I'm still under administration and got a car allowance from my employer. Can I buy a car or must I wait for the administration to finish? From : Jo-Anne 2010/08/31 I applied for debt counselling but they terminated my contract as I failed to pay them. My problem is if I go to the shops to buy something on credit, I can not do so. They say I am under debt admin. What must I do to clear my name? From : Mampho 2010/08/31 Hi Luke, I'm on debt review which is too slow for me. I need a loan that can help me pay off my debts at once and I want to only repay that loan and my car. Can I get a loan like that? From: Disebo 2010/06/14 I was blacklisted about six years ago for some accounts, but last year I checked my ITC report and it was clear and I got a cell phone contract that I am paying every month to build a good credit score. However, I just noticed recently that I have been blacklisted again, what is going on? From: Hendrik 2010/06/14 My husband and I put ourselves under administration two years ago, but we still seem to struggle with the debt. Will it be better if I get a loan to settle the administration and pay off the loan? From: Sheena 2010/06/14 What is legally the difference between being under 'debt review' and being 'under debt counselling'? How does each affect an application for a second bond? From : Fransa 2010/05/14 Hi Luke, I have been under debt review since August last year, but my debt keeps mounting due to high interest rates, and I cannot get hold of the debt counselor as it seems that not all my deals went to court because I still have the bank calling and telling me to advise them about them to re-apply. What can I do here? Can I cancel my debt review and re-negotiate with my debtors in paying them on my own, because now I even have more debt than I had when I went to debt review. From : Oli 2010/05/14 Hello Luke - my husband and I are under debt review. Our debt counselors only got us into more trouble than we started. I paid them R4560.00 in December 2009, and they have still not resolved any of the queries, paid any of the accounts and I cannot get hold of them. They totally disregard my e-mails and phone calls. I have now asked for my deposit back, because I have had to resort to employing another debt counsellor, who incidentally charged us R5, 600, which I also had to pay up front. We receive no feedback, no advice and NCR have also ignored my pleas for help. What now? From : Norma 2010/05/14 Good day Luke, If one is under debt review does it prohibit one from renting a property? From: Dina 2010/04/12 Do you know of any people/companies that can get an administration order rescinded? Is a wise move to be under administration? From: Buyani 2010/04/12 What is a second bond and how does it operate? Is it possible to cancel a debt review agreement and apply for a second bond? From: Owen 2010/04/12 I am currently living overseas, what will happen to my debt in SA? 2010/04/07 Which of my debts should I pay off first? 2010/04/07 How do I get lower interest rates? 2010/04/07 We almost lost our house that is on my sister's name and to cover the arrears I recieved two different loans, my own debt is out of control, How do I get out of this? Sheena Adams 2010/04/07 I need to pay all my debt in order to keep my house, all my applications have been declined thus far, what can I do? Daisy 2010/04/07 I have a sizeable amount of debt including credit card, overdraft and a personal loans, I have no house what do you suggest i do?! Jonathan 2010/04/07 My husband and I are currently under debt review and going through a divorce at the same time. How will it work once the procedure is final and how is it determined who will pay what while it is in progress? 2010/04/07 I sequestrated 6 years ago and did a credit check on myself the other day- my credit record shows everything is clean- no judgements, bad debts or blacklisting etc? It does however show a notice of sequestration on 01/2004. How does this affect me in terms of credit and do I need to rehabilitate in order to make my record clean? 2010/04/07 3. My husband was retrenched 18 months ago and started to work again for the last 2 months. He had to undergo debt counselling as we have properties and did not want to loose any of our long term assets? How would this work in order to get us out of debt as I know we are currently paying over an amount of R15000.00 per month to be distributed against our bonds and credit card. 2010/04/07 I registered with debt review, but I only found out today that I need to pay them R3000.00. Why? I do not have that kind of money to start off with. Is that legal? Asks Cindi 2010/04/07 Where can I go to see if there are any bad debts against my husbands name? We want to buy property, and before we do I need to be sure that his bad debt has been dealt with? Asks Ena 2010/04/07 Please explain the following words to me: blacklisted, under admin orders, dept review. What is first step in dealing with this wording? Asks Njabulo 2010/04/07 I am currently under debt review, but my salary is still not enough to pay all my debts. I want to consolidate all my accounts into my homeloan but have been unsuccessful so far. What can I do? - From: DPZ 2010/04/07 My son has a large credit card debt. His bond is paid up to date. Can the credit card debt force him to sell his house or used it to liquidate him? - From: Pat 2010/04/07 I have an account with Edgars which is in arrears and they have blacklisted me, after I had told them that I had lost my job. - From: Nozipho 2010/04/07 I am currently under debt review, but my salary is still not enough to pay all my debts. I want to consolidate all my accounts into my homeloan but have been unsuccessful so far. What can I do? - From: RR Munsami 2010/04/07 Can you cancel debt review if it has not granted by the courts yet? - From: Marietjie 2010/04/07 I was under admin 4 years ago, but I stopped paying, because I lost my job. Now I want to know where start because I am working again. - From: Patrick 2010/04/07 When should your debt councillor do a review on your status? Also are you allowed to buy a house whilst under debt review? From: Thomas 2010/04/07 If you have one judgement and one default with the ITC and the debt is settled, what process can I follow to clear my name from ITC record? From: Nkosinathi 2010/04/07 Dear Luke, I am over in-debted with my current and long term liabilities. I have applied for debt review, but we have not agreed to a budget as yet. With my wife's salary and mine we can comfortably afford an installment to consolidate our debt, but there is not enough equity in our property to increase our homeloan. What are my options to consolidate my debt? From: Clive 2010/04/07 I took out a second bond on my property and fell behind with my payments as I earned less than I owed. I want to consolidate all my small debts but I know that one of my Creditors have me blacklisted.What advice can you give me to settle my debts ? 2009/10/28 I am currently under debt review. Would that reflect on my credit record after I have paid all my debt 2009/10/28 I went for debt counselling and I was put on a program (debt review). Since things have not been going well. They don’t seem to pay certain accounts or get me more into debt due to interest charges. Is the any other way out, can I cancel the debt review and get a loan to consolidate my debts? Makhosazana 2009/10/28

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