Guiding consumers since 2009

Are you worried about debt trouble?

By Staff Writer

If you are worried about debt troubles you are not alone out there. Debt trouble is on the increase and has been for most of 2009. Statistics South Africa keep track of how many people are getting summoned to court over non payment of debt and how many people were then found guilty in court. The numbers are sobering. There has been an increase in both summonses and judgements.

 

 

If you are worried about your debt, perhaps you have skipped a few payments as the pressure mounts, don't feel alone, and know that there are things you can do to take control of your debt troubles. When a company summons you to court over non payment of debt it is generally an action of last resort. The companies just want their money back and understand that more and more people are becoming over indebted and getting into debt trouble due to the economy.

These companies will almost always be amenable to sorting out a restructured payment plan. If you are feeling like it is all too much for you, you can contact a debt counsellor who will be able to help you deal with your debt and negotiate restructured payment plans. Debt counsellors were set up by the National Credit Act to help people who are suffering under over indebtedness. The most important thing is not to pull an ostrich and deal with your debt trouble before it ends in court.

Recent Articles

Featured The bank took money from my account – is this allowed?

You’ve just deposited money into your account and suddenly you see a notification from your bank. Money has been deducted from your account to pay the outstanding debt that you have with the bank. Is this allowed?

How much does it cost to draft a will?

Having a Will allows you to determine who inherits your property when you die. If you die intestate, the government will determine how to distribute your assets. Many people die intestate because they don’t know how to draft a will or are intimidated by the costs of drafting one.

Is your home correctly priced for the current market?

The property market is typically in either one of two phases, a buyers’ market or a sellers’ market. According to real estate experts, we are currently in a buyer’s market. For this reason, it is important as a seller to correctly price your house to ensure interested buyers and a valuable sale in the end.

Fuel rewards programme – how to fill up on petrol and points

South Africa’s volatile economy has often meant that factors like the fuel price bear the brunt. This year alone the country’s fuel price has fluctuated by between R1.50 to almost R3, which has put increasing pressure on motorists. That said, many of the bigger South African brands have provided some relief by way of fuel rewards programmes.

Deals

Mowana Voucher Special

Price: From R1,099
When: Before 24 December 2019
Where: Johannesburg

Birchwood Hotel Christmas Gift

Price: R959
When: Between 15 December 2019 to 1 January 2020
Where: Johannesburg

Burger & Lobster Lunch in 30 Minutes Special

Price: R99
When: Mondays
Where: Cape Town