Three ways to avoid the debt collector

By Staff Writer

According to new data released by Statistics South Africa civil summonses for debt are rising, and rising fast. 'The total number of civil summonses issued for debt for the three months ended February 2009 increased by 15,4% compared with the three months ended February 2008'. So if you are feeling the credit crunch and it feels like you might get a debt collector knocking on your door there are a few things that you can do. The important thing is to do it sooner rather than later.

 

 

These statistics were looked at by The Daily Dispatch who noted that 'during February this year, 56175 civil judgments for debt amounting to R512.6million were recorded'. That is a lot of people who owe a lot of money and would have benefited from speaking to a debt counsellor way before they got taken to court and had judgement issued against them.

The Times also looked at this story and quoted an economist who believes that this increase was to be expected and that it is 'inline with the current economic climate'. This means that many of these people who had judgements issued against them could have seen the writing on the wall and done something about it in good time. The most important thing is not to wait, the longer you wait the larger your debt will get and the harder it becomes to consolidate and sort out. A trained debt counsellor will help you bust out of this trap and help you to get yourself debt free.

 


 

Recent Articles

Featured Do you need credit to survive Easter?

Easter weekend is here and with it the expectation of celebration. While there is nothing wrong with this, it often means spending more money than you bargained for.

 

Read more

Young woman building a legacy brick by brick

When her dad passed away, Siyasanga Ngcongca, an internal auditing graduate, took over the family business. Ngcongca Construction, as her company is known, is a service provider to five insurance companies, handling building and commercial claims.

Read more

Can you evict paying residential tenants?

One of the most common reasons for wanting to evict a tenant is non-payment of rent. But there are many other situations that landlords may encounter. These can range from damaging property and breaching contract, to being reported as a continuous disturbance by neighbours.

Read more

How one entrepreneur designed her financial future

From as early as Cannon remembers, she recalls her grandmother seated behind a sewing machine. Through this influence she was sewing her own aprons and doll dresses by the time she was ten, and by the time she was 16, she started designing and make her own clothes.

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Hartbeespoort Romantic Weekend Special

Price: R2,999
When: Weekends
Where: North West

Da Vinci Happy Hour

Price: Available on request
When: Weekdays
Where: Cape Town

Glenburn Spa Easter Package

Price: From R1,065
When: 18 -22 April
Where: Muldersdrift