By Michael Herbstein on
Friday, October 23, 2009
Year end is a busy time for us all. We are looking forward to time spent with our families and the festivities of Christmas and New Years. A new year is a fresh start. A clean slate. A chance to make amends. Problem is that most of us spend so much time making New Year’s resolutions, that we make no time to actually implement them into our daily routines. We threaten to exercise, stop smoking and start...
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By Michael Herbstein on
Tuesday, October 20, 2009
I recently went to a major financial institution to apply for a credit card. I was under the impression that my credit profile was in impeccable order. The only active account according to my knowledge was my cellphone account which is paid via a debit order and has not once fallen in arrears. I was brimming with confidence and already had a list of goodies I would purchase online with my newly acquired...
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By Michael Herbstein on
Monday, October 19, 2009
Financial experts recommend ordering a copy of your credit report from the three major bureaus (Transunion; Experian and XDS) at least twice a year. Whilst you have the option of contacting the respective bureaus directly for your credit report, you could simplify matters and order a 3-in-1 Credit Health Report. The 3-in-1 Credit Health Report consolidates all the information obtained by the three...
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By Michael Herbstein on
Friday, October 16, 2009
A recent letter published in the business section of the Sunday Times (Banks don't care about debtors) spoke of how banks make almost impossible to free yourself of debt. Before the National Credit Act (NCA), credit was available to pretty much anyone in need. The NCA has changed all that and made the criteria for credit...
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By Senamile Mhlongo on
Monday, September 21, 2009
The trick with credit is to get into a position of power so you can make it work for you, and not the other way around. What does that mean?
Credit providers really have it all their way.
They make big profits out of the interest they charge you.
They rule for or against your credit application and you have no right of appeal!
They do not give credit unless you agree...
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By Senamile Mhlongo on
Friday, September 18, 2009
There are some things in life you have no control of. For example, you can’t do anything about death or taxes. Or credit records. Or can you?
Actually, yes, you can! By learning how credit records work, you can use your knowledge to your own advantage. In this way, you can make sure you’re never duped or panicked into, for example, repaying an old debt for way too much money (which is the normal...
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By Senamile Mhlongo on
Wednesday, September 09, 2009
By Ooba
You need to decide if you are going to hire a removal company or if you are going to move your possessions yourself. Issues that might affect your decision could be the distance involved, the volume which has to be moved and the costs.
If you do decide to use a removal company, make sure that you choose a reputable one. Make sure that all your requirements are made clear...
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By Senamile Mhlongo on
Monday, September 07, 2009
Sometimes when your creditors cannot be paid and you have no other option your only choice is to be placed under Administration (where your debts are less than R50 000) or to apply to be Sequestrated. In both cases your creditors are entitled to receive payment of their debts or a portion of their debts depending on your financial circumstances. Once the creditors’ claims have been settled you can...
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By Senamile Mhlongo on
Wednesday, September 02, 2009
The current state of affairs is not conducive to South Africans acquiring more credit. So, what can one do in these times that can positively affect your financial future? Well, the wisest thing to do is to use any access cash to pay off your debt. This is the easiest way to start creating wealth and reducing financial stress! South Africans spend 75% of their take home paying off debt. That’s money...
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By Senamile Mhlongo on
Wednesday, August 19, 2009
You are granted credit when an organization or individual makes a sum available for you to borrow. The word credit can refer to a number of products that all have different characteristics. You need to understand the different types of credit in order to choose the right type of credit for your needs. If you don’t do this you may find yourself paying more than you should for the credit you get.
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