Masi Debt Counsellors

28/06/2023

DO YOU HAVE DEBT PROBLEMS?

Increasing Debt Repayments + High Living Expenses = Increasing Stress Levels?

You may find the following DO’s and DON’Ts helpful.

DO NOT do the following:
1. Ignoring letters, phone calls or SMSs from your creditors. This causes creditors to lose trust in you, and they become less sympathetic.
2. Getting new debt, especially from loan sharks (also known as mashonisas). The extremely high interest rate that they charge will get you into a deeper financial hole that will be very difficult to get out of.

DO the following:
1. If you have missed a debt repayment, and you will be able to catch up the missed payment within a short time, call your creditor (bank) and make a payment arrangement with them.
2. If you have missed one or more debt repayments, and you will not be able to catch up with the missed payments, contact a registered debt counsellor. They will negotiate affordable debt repayments with your creditors, and you will get financial relief.
(NB: please refer to our Facebook Post of 18 February 2023 to get further details about debt counselling).

If your situation is as described in point 2 immediately above, take the first step towards restoring your financial stability by contacting us.

12/05/2023

Please show Empathy to People who are Struggling with Debts

This post is directed at people who work at Call Centres of credit providers like banks, retailers, loan companies, etc.

Some of the people who have approached us for assistance with their debts have mentioned that sometimes the people who work at the call centres of credit providers talk to them in a disrespectful manner when they call them about arrears on their accounts.

This is unacceptable. Even if you have debt collection targets to meet, the person on the other side is human and needs to be treated with empathy especially if their difficult financial situation has been caused by circumstances beyond their control.

12/04/2023

WHEN YOU MISS DEBT REPAYMENTS

According to section 129 of the National Credit Act, when you are in default with your debt repayments, the creditor must bring this to your attention in writing. In the letter, the creditor must advise you to contact a debt counsellor for assistance within 10 business days of receiving the letter.

Failure to consult a debt counsellor within this period will result in the creditor taking legal action.

Please do not ignore letters, phone calls or SMSs from your creditors.

04/04/2023

Reducing Fuel Costs

In the light of increasing petrol and diesel costs, you may find these tips useful:
1. Try to walk to a nearby store instead of driving. It is even healthier.
2. Combine multiple errands into one trip to reduce the number of times you need to drive.
3. Avoid peak hour traffic by either leaving earlier for work and / or leaving late after work.
4. Regular maintenance and servicing of your vehicle will ensure that it is running efficiently and using less fuel.
5. Try using public transport (sometimes) or join a lift club to share expenses.

Every cent that you can avoid spending adds up to your savings.

24/03/2023

DEAL WITH YOUR DEBT PROBLEMS ON TIME

Many people are finding it difficult these days to make ends meet, because of increasing debt repayments and high cost of living.

Your debt situation may get worse if you wait until it’s too late.

This is what will happen if you don’t act on time:
1. When arrears on your debts increase, your credit score will get worse making it more difficult to get new credit when you really need it.
2. If your credit score is low, getting new credit (if you get it at all) will be more expensive because you will be charged higher interest rates.
3. When legal action has been taken on a debt, such as issuing of summons or repossession of a house or car, such legal action cannot be reversed by debt counselling.

Seeking help for your debt problems is a first step towards being Debt Free.

09/03/2023

Struggling with Debts? And Feel like Giving Up?

Having struggles with debts doesn't make you a loser, especially if this situation has been caused by life events that are out of your control.

Even if your debt challenges are caused by your past financial mistakes, which you have learnt from, you are still not a loser.

You will, however, have regrets if you give up fighting to Restore Your Financial Stability.

And, yes, you can be Debt Free.

We are registered with the National Credit Regulator, as Debt Counsellors.

Please feel free to Contact us.

18/02/2023

Struggling to Pay Debts?

Due to: Increasing Living Expenses, Rising Interest Rates, or Unexpected Life Events?

Debt Counselling could be a Solution.

Get the facts about debt counselling, i.e., what it is and what it is not, as well as warnings about misleading practices in this industry.

Get these facts by reading the following articles from the National Credit Regular (NCR), an entity that registers debt counsellors and monitors their compliance, amongst other functions.
1. Debt counselling-a debt relief measure for over-indebted consumers - published in August 2022.
2. Misleading advertising on Social Media platforms regarding debt counselling - published in March 2022.
3. Don’t be the next victim of a cyber-scam - published in September 2022.

These articles are found on the NCR website (address shown in the picture below), under the Media Release tab. It won’t take more than 15 minutes to go through them.

We are registered with the NCR. You may verify our registration details by typing our company name in the Search area, under the REGISTRANTS/Debt Counsellors tab, on the NCR website.

Please feel free to Contact us.

11/02/2023

One of the good habits for creating wealth is to reduce or eliminate debt, especially debt for things that do not appreciate in value.
Learn more from American Dollar millionaires in the following article.
(In South African terms, an American Dollar millionaire is someone whose net worth is at least R 17,8 million - based on Dollar/Rand exchange rate on 10/02/2023)

Certified Financial Planner Faron Daugs reveals the habits his self-made millionaire clients all share that help them grow and maintain their wealth.

07/02/2023

Under Financial Pressure, from:
INCREASING Living Expenses + HIGH Debt Repayments?

Restore your financial stability:
1. Get a Free Credit Report, and
2. Obligations Free Quote for Affordable Debt Repayments.

Take the First Step: Click on the link below.

25/01/2023

A mental, emotional and spiritual perspective about personal finances. Very interesting podcast to listen to.

Bottom line: seek help if you can't cope.

Often, Financial practitioners talk about the importance of financial planning without highlighting mental and spiritual well-being. Given that this is a new year, we want to pause a bit and unpack the importance of mental and spiritual well-being in making better consumer choices. Guest: Lionel Mak...

23/01/2023

January doesn't have to be JanuWorry