Debtfree Magazine October 2017

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UNSECURED CREDIT HOW LONG WILL IT TAKE TO REPAY? YEARS More credit providers these days are offering consumers larger amounts of money in loans that can be repaid over very long time periods. For example, some banks offer up to R250 000 which can be repaid over 60 or even 84 months. That’s either 5 years or even 7 years. Direct Axis offer loans of up to R150 000 and offer consumers 6 years to pay the loan back. They say that 24% of their clients use a new big loan to pay off all their other smaller existing credit so they can end up only paying Direct Axis each month. Capitec offer up to R250 000, which can be repaid over up to 7 years. In total over all that time you will repay around R447 996 if you get a good interest rate. If you take a smaller loan of R1000 and repay it over 12 months, you will pay around R265 a month (so nearly 3 times the loan amount in the end). ABSA offer clients credit from as little as R250 up to R350 000 over up to 7 years. If you borrow R250 and repay it within 31 days you will only pay R275. If you borrow R350 000 and repay it over 7 years, your payments over all those years will add up to R678 718, including interest and fees.
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Page 1 and 2: South Africa’s debt counselling m
Page 3 and 4: Don’t expect to hear an endless a
Page 5: FROM THE E D IT O RSDESK
Page 8: HOW LONG DOES IT TAKE TO REPAY DEBT
Page 11: UNSECURED CREDIT HOW LONG WILL IT T
Page 17 and 18: HOW LONG DOES IT TAKE TO REPAY DEBT
Page 19 and 20: 7YEARS
Page 23 and 24: 10 YEARS
Page 28 and 29: 60 MONTHS
Page 32 and 33: QUESTIONS FROM OUR READERS Q A Cred
Page 34: THE DREADED DROP OFF The struggle f
Page 38 and 39: THE DREADED DROP OFF THE GOOD THE B
Page 40 and 41: THE DREADED DROP OFF TIME IS MONEY
Page 42 and 43: THE DREADED DROP OFF CAUSES OF DROP
Page 44 and 45: THE DREADED DROP OFF 5 6 The consum
Page 47 and 48: THE DREADED DROP OFF TEST THEM Some
Page 49 and 50: PROFESSIONAL DEBT COUNSELLING ATTOR
Page 51 and 52: DEBT REVIEW SCHOOL Your monthly deb
Page 53 and 54: For daily debt counselling news in
Page 55 and 56: Jothie Bechoo ATTORNEYS & DEBT COUN
Page 57 and 58: NEWS RCS and Pick n Pay Pick n Pay
Page 59 and 60: DEBT REVIEW SCHOOL Find out exactly
Page 61 and 62: out by Jim Fallon, that get in the
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As a debt counsellor, you are a ‘
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Die Republiek van SKYT AFRICA Hallo
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NCPDA2 R E G . 2 0 0 8 / 0 1 8 7 4
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KIM ARMFIELD AND ASSOCIATES
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Why did you get into law? Life happ
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Do you think that consumers are ben
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Are some courts easier than others?
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don’t be a twit http://twitter.co
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ATTORNEY PROFILE | KIM ARMFIELD AND
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What advice do you have for Debt Co
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DON’T WORK WITH AN OUT DATED VERS
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Debt Counselling Comunity Support h
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IRECTORY ATEGORY DO YOU WANT TO LIS
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LIMPOPO NORTH WEST EASTERN CAPE MPU
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Specialist Debt Management Centre B
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National Debt Advisors Fighting For
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GMC Debt Solutions 52 Kerk Street L
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WEBSITE | www.debt-therapy.co.za de
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Tel: 0861 123 644 Email: info@debtr
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SUPPORT SERVICES Tel: 011 451 0041
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LEGAL Liddles & Associates “It al
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PAYMENT DISTRIBUTION AGENCIES DC Pa
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CAPITEC CONTACT DETAILS Form 17’s
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ABSA TASK SPECIFIC DEBT ABSA TASK S
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DC Query Process DC Query Process w
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Telephone: 031 251 4151 Fax: 031 25
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Debtfree Magazine October 2017

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