Tuesday, November 21, 2017

Interest rate hike looms are you ready?

THIS MEANS TWO THINGS: 1. #Debt will become more expensive 2. Less money to take home. Are you ready? #ReduceDebt now! https://www.moneyweb.co.za/news/economy/rate-hikes-seen-coming-soon-as-risks-mount/

Tuesday, November 7, 2017

Living life broke

It's not just you. It's most people in SA these days. We live month after month barely paying our bills, not saving and neglecting our families.
If you asked for help you probably considered debt review. It totally failed to relieve your debt stress so what do you do now.
There are no cookie cutter solutions but there are specialists that can assess your situation and offer you advise.
Since 2007 Meecham Prinsloo & Associates helped over 2000 people we can help you too.
Complete the assessment here: www.nodebt.co.za

Monday, August 28, 2017

Debt relief and law failing South Africans

In November 2016 IOL published this article by Angelique Arde,
LAW FAILING CONSUMERS DROWNING IN DEBT.
https://www.iol.co.za/personal-finance/law-failing-consumers-drowning-in-debt-2089323
The National Credit Act in acted in 2007 was never intended to offer real relief to over indebted consumers. It was poorly conceived and poorly executed.
It has never addressed reckless credit.
The act was written to protect credit providers from the shock of the financial crisis of the time.
Debt counsellors are poorly trained and often apply debt review as a  multi purpose tool for all debt problems.
The problem with the debt review debt solution is that debt currently owed will have to be repaid in full including costs and interest. No provisions are made for a write off of debt.
Consumers are rejected for debt review if they are unable to settle their un secured debt in five years or less.
Debt counsellors have effectively become the debt collectors of the credit providers and it has become more profitable for credit providers when accounts go into counselling as more interest is charged over a longer period than what was originally agreed. 

What our clients say

What our clients say...

" you literally saved my life, I was paying more than R8000 per month on debt counselling, now more than 80 % is legally written off and the balance I can pay off at R1700 per month. Thank you, thank you, thank you"
Steven from Durban vgl

"For 3 years I have been under debt counselling and my debt just increased. In 90 days my debt was wiped out and I could make a fresh start. Thank you Eugene"
Louise from Kempton Park

"I had more than R300 000 in debt. Now I have zero"
Thato from Durban

"On debt review by debt kept increasing, now I have a consolidated reduced debt that I can settle in easy monthly installments.
JP Smit Kempton Park

"Ek het my huis en kar verloor en die bank het nog steeds betaling gesoek. Sekwestrasie het dit gestop"
Danie Pretoria