outh Africa could see a spike in bad loans as the first recession since 2009 hits millions of chronically indebted consumers struggling to pay back credit totalling R1.7 trillion ($133.19 billion), the National Credit Regulator (NCR) said on Wednesday. Africa’s most developed economy slipped into recession in the first quarter, compounding a slew of negative […]
National Credit Regulator Sees Rise of Recession Ahead Read More »
f you’re struggling to repay debt, there may be more than the monthly instalments at fault. You could be paying too much debt interest. Reducing this debt interest is another way to make debt manageable. Debt Interest rates For any amount of money you borrow from the bank or credit institution, the total debt incurred
How do I know when I am being crushed under the weight of my debt? Read More »
Like most indebted South Africans, you have to manage multiple accounts, credit cards and unexpected bills. You probably wonder how to pay it off quicker. Should you make minimum payments on all debts? What about saving money on accumulated interest? Can debt consolidation be your answer to eliminate debt? Avoid paying only the minimum instalments
Is it Fine to repay only the minimum monthly repayment? How to pay OFF multiple Debts Read More »
Not all debts are created equal in South Africa. It depends on the type of loan one is taking and the choice of interest rate: fixed or variable/flexible. Before incurring more debt, pay attention to payback terms and interest rates, as it can make all the difference in your budget and debt repayment plan. Most
South African fixed and flexible debt Interest rates explained Read More »
Debt consolidation unifies multiple debt, typically high-interest unsecured debt such as credit cards, into a single manageable debt payment. You can use the process to re-organize debt, reduce monthly repayments, pay back a lesser amount, and get a better interest rate on your loan. Below we look at debt consolidation and interest rates options. Debt
Explained: Debt consolidation and interest rates Read More »
Taking control over your debt gets easier once you understand the different types of debt and learn to prioritise paying them off. This blog explains various types of debt, the worst types of debt, and which debts can be consolidated when undergoing debt counselling. Different Types of Debt Debt can be categorised in several ways:
What types of debt can be consolidated? Read More »