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Taking preventative measures to avoid being overindebted


Taking preventative measures to avoid being overindebted
By Supplied
The South African economy had long started to spiral downwards due to poor financial decisions.
By spending more than we earned, we got ourselves into debt that we could not afford to pay back. This has brought much distraught to our nation.
Unfortunately, this was just the beginning of our troubles as the lockdown saw many workers lose their jobs and others being subject to pay-cuts, making it even more difficult to commit to our credit agreements.
Many of us went into survival mode as soon as the lockdown was extended leaving the essential budget item of ‘savings’ as possibly one of our last thought in our minds. We were forced to stretch our pockets to assist those close to us. ....

South Africa , South African , South Africans , Debt Counsellor , கடன் ஆலோசகர் ,

'I am suffocating under debt review': Debt counsellor refuses to let go


03 May 2021 - 11:17
Part-time teacher Moses Manthata, 61, of Polokwane is frustrated after a debt review counsellor s suspicious behaviour with his case over a sum of R30,000.
Image: Supplied
What Moses Manthata thought was a good plan to get himself out of a sticky debt situation has turned out to be a financial nightmare. 
For four years, the adult education teacher from Polokwane, Limpopo, has been fighting with his debt counsellor to remove him from the debt review he placed him under in 2016.
A person under debt review cannot take out new credit until the debt has been settled.
Manthata, now 61, approached Matamo Debt Counsellors in Polokwane in 2016 seeking help to pay his loans with Capfin and Absa for R30,000 combined, with monthly payments of R1,200 - R1,500 to Absa and R300 to Capfin. ....

South Africa , Moses Manthata , What Moses Manthata , Matamo Debt Counsellors , Masilo Letswalo , Debt Counsellor , கடன் வழங்குநர்கள் , கடன் ஆலோசகர் ,