Stay informed with the latest news and expert opinions from South Africa’s leading news agencies. Debt Rescue’s CEO Neil Roets and Debt Rescue’s COO, Annaline van der Poel, shares economic insights, explains how debt review can help over-indebted consumers, and valuable financial advice. From expert interviews to breaking news, this page brings you honest discussions about money, debt counselling, and actionable tips to help you take control of your debt.
There used to be a time when an employer could offer a skilled employee a monthly remuneration package totalling, for example, R1 2 000 that could consist of only R2 000 in salary, from which PAYE was deducted, and a R10 000 car allowance with which he or she could do what they liked, like
Debt Rescue say people are indebted for failing to have a proper budget and live within their means. South Africans are showing an improvement in way they handle their finances, says Stats SA. According to statistics released recently, less South Africans were battling to pay their debt. Statistician General Pali Lehohla said the number of
THE guilty verdict against Lewis Stores for infringing the National Credit Act by the National Credit Regulator (NCR) was just the tip of the iceberg and many more listed and privately-held entities extending loans were guilty of these practices. Neil Roets, CEO of one of the largest credit management corporates in South Africa, said the
Cape Town – The tough ruling against Lewis Stores is a clear warning that illegal practices in the credit industry will not be tolerated, according to Debt Rescue CEO Neil Roets. The National Credit Regulator (NCR) found Lewis Stores guilty of infringing the National Credit Act (NCA), relating to credit insurance and disability cover sold
‘More than 8 million people are battling with debt repayments’ CONSUMER experts have welcomed Tuesday’s constitutional court decision on emoluments attachment orders saying it will benefit millions. The court ruled the emolument attachment orders also known as garnishee orders should only be issued by magistrates and not clerks of courts as was the case previously.
Judgment to benefit the poor Siseko Njobeni THE CONSTITUTIONAL Court judgment on garnishee orders was likely to reduce the risk appetite of lenders and could see “risky” individuals struggle to obtain finance, Fincheck chief executive, Michael Bowren said yesterday On Tuesday the court ruled that aspects of the enforcement of garnishee orders were unconstitutional. Various
Cape Town – It is a pity most debtors are not aware of laws which determine that a debt prescribes – therefore, becomes null and void – if a creditor has not attemped to collect it for three years, Debt Rescue CEO Neil Roets said on Monday. He explained that a joint survey conducted by
HARD pressed consumers are set to benefit from a petrol price drop expected next week. The price is expected to drop by about 60 cents a litre, while diesel is expected to go down by 90 cents. “This drop in fuel prices will bring some relief to consumers because it will affect the prices of
A Fin24 reader wants to know how prescribed debt works after she got a surprising call from attorneys demanding payment for the shortfall of her car that was repossessed 7 years ago. She writes: My car was repossessed 7 years back. Now attorneys are demanding payment for the shortfall. I would like to if the
Nedbank is reporting that it has seen a 10% increase in the number of consumers who are defaulting on payments, as they struggle to cope with rising rates, higher prices and a tough economy. The bank reported total defaulted advances at R18.4 billion at the end of June, as retail consumers focused on more urgent
