Consumer Welfare Mediators Johannesburg

01/04/2023

The repo rate has been raised to 7.75% by the Reserve Bank, an enormous 50 basis points higher.

Reserve Bank Governor Lesetja Kganyago said that high inflation, persistent load shedding, global geopolitical tensions, as well as elevated global price levels were the main drivers of the latest hike.

21/03/2023

Happy Consumer and Human Rights Day.
"In giving rights to others which belong to them, we give rights to ourselves and to our country"

06/03/2023

A SEQUESTRATION NOTICE IS WHAT?

You or any of your creditors may ask the court to sequestrate your estate, which consists of everything you own and owe. In order for your estate to be sequestrated, the court must be convinced that doing so will benefit your creditors and that doing so will ensure that they receive at least ten cents of every Rand owing to them.
Sequestration has the effect of declaring your estate insolvent, forcing your creditors to accept payment of whatever your assets are worth in settlement of your debts.

26/01/2023

As a result of Eskom receiving an 18.65% rate increase from the National Energy Regulator of South Africa (Nersa) to assist it pay off its debt, consumers will now have to deal with increased electricity prices. The company had requested 32% for 2022–2023; however, Eskom will receive an additional 12.74% in April 2024.

Report cautions that many workers will be no better off than they were last year.

25/01/2023

Can a credit provider access my credit record without my permission?

A credit provider must obtain your permission before accessing your credit records. Credit bureaus may only report or release your consumer confidential information (which includes your credit record) to you or to any other person that you have given permission to receive it. Without your permission, a credit bureau may only report or release your credit may only report or release your credit record as directed by an order of a court or the National Consumer Tribunal or to the extent permitted or required by other national legislation or provincial legislation.

09/01/2023

Compliments to the New Year.
Start your year of by knowing your financial position.
You have the right to obtain a copy of your credit record from each registered credit bureau once a year at no cost or charge.
To get your credit records you must contact the credit bureau who may require a copy of your ID book, passport or driver’s license. You may also be required to fill out a form giving the credit bureau permission to release the information to you.

26/12/2022

“It is more important than ever to make our families the center of our lives and the top of our priorities.”
—L. Tom Perry

17/12/2022

"Instead of hatred and revenge we chose reconciliation and nation building" Nelson Mandela

14/12/2022

Received a demand or summons for payment on an account?

If you receive a summons concerning a debt and you cannot afford to pay it, do not simply ignore it. The summons you receive will tell you how many days you have to respond.

01/12/2022

I want to remove my name under debt review but have not finished paying my debt. Is it possible?

Yes, this can be done if your debt review was made an order of court and the court order is subsequently rescinded OR an application is made to court to have you declared “not over-indebted.”

23/11/2022

In comparison to their own personal and household budgets, the ordinary family spends more time organizing their vacations or leisure activities.
The holiday season is calling as a challenging 2022 draws to a close. Unfortunately, Christmas won't be very joyous for many because of layoffs, declining household incomes, and the financial impact of the Covid-19 outbreak, all of which have significantly decreased discretionary money.
Even with limited resources at your disposal, there are many methods to get through the holiday season and end the year on a strong financial footing. One of the most crucial tools to help you through difficult financial waters is a Budget.


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04/10/2022

Will I be able to get credit while I am sequestrated?
YES. Any “new creditor” (i.e. a creditor who
allowed you credit after sequestration) can allow you credit, but you have an
obligation to disclose that you are insolvent before using the credit facility.
If the creditor is aware of the fact that you are insolvent and still gives you
credit, then the agreement is legal and binding on both parties.


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