Consumers are spending more than 40% of their disposable income on repaying debt, survey shows
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Consumers can get their lives back after going under debt review although the process is not easy
The debt counselling process is not always smooth, as a Durban homeowner who fell into arrears on her mortgage has discovered
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Rising interest rates and living costs deal a double blow to the poor
Industry professionals warn that, although well intentioned, the Bill to enable fund holders to get some of their savings before retiring can do harm
The NJMPF facilitates educational sessions at road shows, workshops and indabas
But amid worries that consumers could binge on credit there are signs they are handling debt better
The number of new accounts has risen but tough times have forced others to borrow
Only 1% of South Africa’s small, medium and micro-sized enterprises ask for formal financing
The bank on Wednesday morning reiterated that it had not been contacted by the NCR
What may be SA’s first female black-owned bank is due to disrupt the sector by targeting hawkers and taxi drivers
Given this economic uncertainty, households should save during boom times so that they can survive during a recession
There’s no rescue plan for African Bank borrowers, many of whom are repaying loans that experts say are contrary to the National Credit Act.
A court has ordered that draft recommendations on new credit fees must be completed by the end of April.
State organs are said to have failed to obey a court order to review credit charges within nine months.
The NCR has reached a settlement agreement with African Bank relating to two cases in which the bank was accused of reckless lending.
Growth in unsecured lending remains high.
The NCR says the latest credit market statistics suggest a need for caution as the number of consumers with impaired credit records jumped by 100 000.
The latest National Credit Regulator statistics indicate a 13.36% increase in new credit granted to consumers as compared to June 2011.
<b>Kevin Davie</b> takes a hard look at the country’s household debt figures and finds that the doom and gloom are misplaced.
Despite low interest rates, nearly 50% of credit active people are falling behind in repayments.
Many consumers apply for credit, only to find out that their application has been turned down due to negative credit information.
The 67% year-on-year leap in loans with no surety has raised the hackles of the National Credit Regulator.
Consumer credit granted has increased 31.2%, a report by the National Credit Regulator has shown, but credit applications have decreased by 3%.
Is South African Fraud Prevention Services operating as a credit bureau? If so, it should be registered as one, says the NCR.
More consumers are in arrears, but there aren’t as many impaired accounts. What does that mean? Read on.
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/ 2 February 2011
A landmark legal judgement means consumers and debt counsellors have won a battle against some major credit providers.
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/ 24 January 2011
Concessions should reduce the number of debt review cases in the courts and encourage credit providers not to terminate these reviews.
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/ 20 December 2010
A national consumer awareness campaign shows consumers how to negotiate with their credit providers.
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/ 16 December 2010
If you are under debt review and qualify for a reprieve, there’s a chance you may not lose your home.
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/ 10 December 2010
A code of conduct between credit providers and debt counsellors should iron out the problems that stymied many of those seeking protection.