The Debt Free Guide

02/11/2022

29/09/2022

Fact 3:

By Law, you pay off and first before you start to reduce your debt. That is why your balance stays the same even after you start making payments. If you interest and fees are very high, consider talking to a professional for some advice on how you can reduce your cost of .

29/09/2022

Fact 2:

does not just disappear.

If there is an account you have not paid, that Debt is still there with the credit provider or a debt collector. The National Credit Act allows for a debt to i.e. expire. This will only happen if the credit provider does not try to get you to pay for 3 years in a row. It happens, but not as much as you think. The best thing you can do for your is to make sure you are paying off all your debts.

29/09/2022

loans

Fact 5:

The is designed to make you go deeper into . This happens because such loans cannot be paid off without the increasing their .

This is how the works: Thato earns R7500 per month. She had a family emergency and borrowed R6000 from XYZ Cash Loans payable at the end of the month.

Because of the , Thato managed to cover important to help her family.

At the end of the month though, Thato needs R7500+R6000 = R13500 in order for her to the loan and have enough for her expenses.

At the end of the day, Thato needs to carry on taking a loan of R6000 every month in order to survive even though she does not need the loan anymore.

AVOID PAY DAY LOANS.

27/01/2022

Does end?

Debt Review or Debt Counselling is a legal process. That means it is governed by the National Credit Act. It is the National Credit Act that says when and how will end. If you want to get off debt review you will need a reliable, tried and tested attorney.

27/12/2021

Fact 5:

The is designed to make you go deeper into . This happens because such loans cannot be paid off without the increasing their .

This is how the works: Thato earns R7500 per month. She had a family emergency and borrowed R6000 from XYZ Cash Loans payable at the end of the month.

Because of the , Thato managed to cover important to help her family.

At the end of the month though, Thato needs R7500+R6000 = R13500 in order for her to the loan and have enough for her expenses.

At the end of the day, Thato needs to carry on taking a loan of R6000 every month in order to survive even though she does not need the loan anymore.

AVOID PAY DAY LOANS.

20/12/2021

Fact 4:

collectors in South Africa have to be registered and abide by the Debt Collectors Act.
They are not allowed to threaten you and harass you. Contact the Council for Debt Collecters Association https://www.cfdc.org.za/contact-us/ to lay a complaint.

11/12/2021

Why Wait Until It's Too Late?