Credit facilities – the most popular debt in South Africa
Consumer appetite for credit facilities has increased according to the Credit Market Report (CCMR) published by the National Credit Regulator (NCR) in April. The report showed that there...
Loan scams: How to protect yourself from loan scams
The current economic situation we’re experiencing in South Africa has created a strong appetite for credit. Often consumers need to borrow money out of desperation just to help...
Beware of loan sharks
Loan sharks or Mashonisa, as they are known in the South African townships, have caused so much misery in people’s lives. Confiscated possessions and violent threats are just...
You can emigrate, but you can’t escape your debt
If you are burdened with debt, you might have considered going overseas and leaving your baggage of debt behind. Some people hope that their debt will then somehow...
Is debt counselling a better alternative to debt consolidation?
The first thing that comes to mind when over indebted and seeking debt relief, is debt consolidation. This eliminates the trouble of dealing with multiple creditors. However, there...
Don’t accept a credit limit increase offer without doing these four things
You have been receiving constant calls from your credit provider, offering to increase your credit limit. You jump for joy thinking of the shopping you could do with...
Car loan or home loan – which one should you take first?
Let’s admit it, having your own wheels gives you the freedom to travel wherever you want, whenever you want. You don’t have to stand in queues, waiting for...
This is how interest rates affect your loan repayments
On 27 March, the South African Reserve Bank (SARB) cut interest rates by 25 basis points. Of course, this was a welcome change to South Africans, who are...
Collateral – the main difference between a secured and unsecured loan
Deciding on the type of loan to take normally depends on the circumstances. For instance, when buying a house, one may be spurred to take a secured loan,...
Personal loans not available to new employees
Employment is one of the significant factors when applying for a personal loan. After all, no creditor will lend you money until sure that you have some form...
