Guiding consumers since 2009

Featured question: How long till I am debt free?

21 Oct 2014

By Staff Writer

Question:

If you are already on debt review, how long does it take before you are debt free?

Answer:

The maximum period is generally five years. This is the time in which our unsecured debt can be paid up. If you have a bond or vehicle asset finance, this may take longer to be fully paid. However, your clearance certificate is issued to you once all unsecured debt is repaid and you can opt to cancel your debt counselling process thereafter.

Recent Articles

Featured Be financially prepared to lose your job – here’s how

During uncertain times, it’s natural to be concerned about the security of your job. Regardless of your performance at work, you may be out of work if your company is no longer profitable. But what would that mean for your personal finances, and how would you survive if you suddenly lost your income?

Should you save for a new car or finance it over time?

Buying a car is a long-term commitment. You either need to save up for it or pay it off over time, and the option you choose will depend on your personal circumstances and preferences. So, what should you consider when deciding which payment method to make use of?

Older people pay more for car insurance and other myths busted

When it comes to vehicle insurance there are nearly as many myths flying around as there are uninsured vehicles. The bottom line is that an insured vehicle is a safe vehicle that can save you a lot of money in the case of an accident. Yet, the myths persist.

How much money do you need to move abroad?

Moving abroad means uprooting your life and transferring everything you have to a foreign country – including your finances – which can be both risky and expensive. So, what are the costs of doing this, and how much should you save before you head off to start your new life?