Browsing Archive: April, 2012

Decline in Civil Judgments for debt

Posted by Amelia Aitken on Sunday, April 22, 2012,

StatsSA released statistics on 19 April 2012 showing a year-on-year decline of 4.4% in civil judgments for debt in February 2012.

The number of civil judgments recorded for debt decreased by 14.2% for the three months ended February 2012, compared with the three months ended February 2011.

Consumers should use debt review to salvage their financial situation before it is too late. Debt review will prevent unnecessary legal costs and assist in repaying the debt in a cost-effective manner.


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Debt Counselling Fees

Posted by Amelia Aitken on Sunday, April 22, 2012,

Debt Counselling Fees have been under the spotlight in recent weeks due to the North Gauteng High Court upholding a ruling by the National Consumer Tribunal in the deregistration of Christoph Bornman as a debt counsellor.

The NCR investigated Mr Bornman, and found that he contravened the credit act by

·         Deducting fees to which he was not entitled

·         Receiving After-Care fees for services he did not provide

·         Failing to follow the debt review process prescribed...


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South Africa’s rising household liabilities

Posted by Amelia Aitken on Sunday, April 22, 2012,

Business Day reported on a household wealth index that indicated that household liabilities are rising faster than asset growth in South Africa. According to the survey, which was undertaken by Momentum Insurance and University of South Africa, there is an increased need for financial education and comprehensive financial advice.

One of the biggest concerns is that unsecured credit is being used to fund consumption rather than acquire assets, and the recommendation from Prof van Aardt of th...


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Did you know…

Posted by Amelia Aitken on Sunday, April 22, 2012,
  • ONLY a Sheriff of the Court with an attachment order may repossess your assets? No other person has the right to take any of your assets. Should a debt collector arrive at your door, insisting that they are there to repo your car (or any other asset), the ONLY way they can take anything is if you voluntarily surrender that asset, and you do this by signing the document that they push under your nose. Most of these debt collectors rely on your lack of knowledge, and the fact that you know...

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Evolution of Debt Counselling

Posted by Amelia Aitken on Sunday, April 22, 2012,

When I started as a DC in 2010 it was possible to send a creditor a repayment proposal saying that the client has lost his/her job, and that a moratorium be placed on the accounts in question. Whether the creditor agreed with this or not did not matter, as long as the matter was set down in a magistrate’s court. We were also under the impression that legal action only commences once a summons has been issued, so all accounts could be included as long as summons was not issued…

Since then...


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Insurance and Debt Review

Posted by Amelia Aitken on Sunday, April 22, 2012,

It has recently come to light that insurance companies can repudiate insurance claims on the basis of having adverse listings on a credit record.

A consumer’s vehicle was irreparably damaged, and even though the vehicle was comprehensively insured and the monthly premiums up to date, the claim was repudiated on the basis that when the consumer took out the policy she failed to disclose any adverse listings. The consumer’s defence was that she was unaware of these listings, but the insura...


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About Me


I have been in the debt counselling industry since July 2010, and have lived through the trials and tribulations of the past year. I have a very good understanding of what is happening in the industry, and through this blog am trying to make all relevant information available to consumers.

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