Beware of loan sharks
Loan sharks or Mashonisa, as they are known in the South African townships, have caused so much misery in people’s lives. Confiscated possessions and violent threats are just...
You can emigrate, but you can’t escape your debt
If you are burdened with debt, you might have considered going overseas and leaving your baggage of debt behind. Some people hope that their debt will then somehow...
Is debt counselling a better alternative to debt consolidation?
The first thing that comes to mind when over indebted and seeking debt relief, is debt consolidation. This eliminates the trouble of dealing with multiple creditors. However, there...
Don’t accept a credit limit increase offer without doing these four things
You have been receiving constant calls from your credit provider, offering to increase your credit limit. You jump for joy thinking of the shopping you could do with...
Car loan or home loan – which one should you take first?
Let’s admit it, having your own wheels gives you the freedom to travel wherever you want, whenever you want. You don’t have to stand in queues, waiting for...
This is how interest rates affect your loan repayments
On 27 March, the South African Reserve Bank (SARB) cut interest rates by 25 basis points. Of course, this was a welcome change to South Africans, who are...
Collateral – the main difference between a secured and unsecured loan
Deciding on the type of loan to take normally depends on the circumstances. For instance, when buying a house, one may be spurred to take a secured loan,...
Personal loans not available to new employees
Employment is one of the significant factors when applying for a personal loan. After all, no creditor will lend you money until sure that you have some form...
Wrong reasons to take out a personal loan
Taking out a personal loan is a huge, long-term commitment. You shouldn’t make this decision on a whim or take the consequences lightly. “With the current economic conditions,...
The consequences of defaulting on your loan
A personal loan may be exactly what you need. But before you jump into the deep end, you should understand the consequences of belly-flopping on the surface and...
