Debtfree Magazine April 2019

debtfreemagazine

SA's Free Debt Counselling & Debt Review industry magazine. For consumers under financial strain or in debt review. The April 2019 issue. Topic: Keeping up with the Joneses - why you shouldn't bother.

SOUTH AFRICA’S DEBT COUNSELLING MAGA

KEEPING UP

WITH THE

JONESES

April 2019

www.debtfreedigi.co.za


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It is nice to have nice things. I

recently upgraded my mobile

contract again and look forward

to extra memory, extra screen,

bigger this and faster that. It is

a pity that manufacturers don’t

just put the best stuff in every new

phone they make.

Instead they make you decide how

much to spend and you, as a non IT

person, have to decide if the 317 chip

is better of the 316(b) something??

or whatever is the one you want. Of

course, we soon realize that what the

manufacturers are doing is creating

a variety of products with various

parts (that they have lying around

in the factory) so that they can move

old stock at slightly lower prices.

Otherwise they have to throw that

stuff away. And so on our end we

have to decide how fancy we want

our phone to be within our budget.

We don’t get to have the best they

can make but rather we only get the

best we can afford.

This is one of the reasons why so

many people try to ‘keep up with

the Joneses’. They want to show that

they have the best or in most cases

simply the most expensive. Often,

however, the most expensive is part

of a false economy. Take my mobile

phone for example.

A little research quickly told me

that last year’s “best” in the brand

I was looking at is now basically

rebranded to be the middle of the

range this year - still with amazing

stats and features. So, do I take

this year’s middle range phone at

this year’s hefty prices or do I take

last year’s top phone at massively

discounted prices? I think you know

the answer.

This issue is crammed full of news

and reviews. There are tips and

advice, as always, and in this issue

we look at other important matters

too, from industry events (that you

never attended) to court cases (that

you never heard of before). Why?

Because they impact on you and your

debt review in one way or another.

You are doing ‘a little research’ into

one of the biggest parts of your

financial life ever. That research will

pay off as you get a realistic picture

of how things work and can make

better decisions in the future.


So, we hope that you enjoy the

issue and see how avoiding the

urge to keep up with the Joneses is

fundamental to successfully staying

in debt review. How changing our

mind set about what real value for

money is and what we want from

life (and even mobile phones) is

important if we are to eventually

become debt free.

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KEEPING UP WITH

THE JONESES

C

AFRICAN BANK

DC WORKSHOP

2019

DEBT REVIEW

AWARDS

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NTENTS

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DEBT REVIEW

SCHOOL

When you are in debt review

credit bureaus list this to

advise credit providers you

can’t afford new credit yet.


KEEPING UP

WITH THE

JONESES


WHY YOU SHOULDN’T

BE TRYING TO KEEP UP

WITH THE JONESES

“Keeping up with the Joneses” is an old saying about trying to match

the social status of people around you. It is the idea that you need

to at least have what your neighbors and friends have or they will

look down on you.

The saying comes from a comic strip which ran from 1913 before world

war one until 1940 during world war two. The comic strip was called; you

guessed it, Keeping up with the Joneses.

When we measure our personal worth against the things and lifestyle of

our neighbours and friends or even people on TV or social media it puts a

lot of pressure on us to have more, do more, spend more. All to impress

people we do not even know.

This idea is one of the contributing factors to why most Americans who

earn over R1.8 Million each year are barely getting from month to month

due to all their debts.


Business photo created by pressfoto - www.freepik.com


KEEPING UP WITH THE JONESES

SOCIAL MEDIA IS

MAKING IT WORSE

One travel blogger (yes, that’s a real job) says ‘I feel that more and

more people are depressed and sad because of social media’ and this

is a guy who is always in amazing locations taking amazing photos

for a living. Even he feels it.

Social media feeds us a barrage of images of people all enjoying special

moments and treats in the most wonderful places. Importantly it feeds us

these images one after the other in our feed creating the impression that

everyone is doing this all the time. It can make us wonder why we aren’t.


KEEPING UP WITH THE JONESES

On social media you will see all these Joneses have the latest massive TVs

and Stay in giant houses, attending function after function while you sit

around in your pajamas trying to stay warm through the coming winter

chill.

In the world today, a fancy car and a big house are the standards of

success. But is that what it’s really about? Constantly comparing ourselves

to others, their social status, their wealth, job or family, will simply bring you

dissatisfaction and disappointment.

So, in the face of so much social media and constant advertising how do

we keep a level head? How can we measure our personal worth if not in

comparison with others and what is the truth about keeping up with the

Joneses?


KEEPING UP WITH THE JONESES

THE TRUTH ABOUT

THE JONESES

The first thing you need to realize about the Joneses is that the bank

owns everything you see. They have a lot of nice things but it is all

on credit. From the fancy big house to the car they drive and even

that nice pair of shoes they are wearing on that yacht off the coast

of wherever. Even that entire trip was paid for on credit. That means

none of it is really theirs.

They are selling their entire future for moments of fun right now and they

blast it out on social media to tell everyone how wonderful it is because

your jealousy adds to the sweetness of the moment. It is ego driven bad

financial decision after decision.

Every month they have to service all those credit cards that are right on the

edge of being maxed out or the whole thing falls apart. If a real emergency

comes along they are going to be strapped for cash and there is no way

they are saving for a rainy day. It is a giant veneer, a front shown to the

world. They will never show you their credit card statements rather they will

post the price of their latest dinner and say how totally worth it it is.


R700.00

so worth it


KIM

ARMFIELD

AND ASSOCIATES

DEBT REVIEW | CREDIT LAW | LITIGATION

CONTRACTS | FAMILY LAW | WILLS & ESTATES

Tel: 021 949 1758 | 084 702 3760

info@legalwc.co.za | www.capeattorney.co.za


KEEPING UP WITH THE JONESES

UNDERSTAND YOUR

OWN MOTIVATIONS

Ask yourself why you want to keep up with strangers on TV or social

media? It is probably not as simple as they have nice things and I

want them too. Consider why you want them.

It could be because of frustration at work. Do you feel underappreciated

and underpaid? When you see others doing well and having nice things

does it hurt a little?

Do you feel like you can’t make friends unless you spend money to attract

them to yourself? Low self esteem can be a real challenge. Maybe, in your

mind, bright shiny things make others see you as being valuable and make

you a better person?

Personal problems can beat us down. We get stressed by ourselves and

others. We are all aware of how retail therapy works but it also comes with

a hefty price tag. You may also come from a background where you did not

have a lot as a family. Now you feel you should have everything you never

had and you should have it all in one go.


KEEPING UP WITH THE JONESES

WHAT IS IT THAT THE

JONESES HAVE THAT

YOU REALLY WANT?

Although you may assume it is just their money and how they spend

it there might be some hidden things that you really want that

they seem to have on the surface. Do they seem to have the best

relationships or a perfect marriage? Are they always smiling and

cuddling together? Does that make you feel insecure about your

own relationship?

Do they have seemingly perfect kids? Do they always do well at school and

are on the fast track for future success?

Do they have a great, stress free, amazing job? Even if you don’t know

exactly what it is they do it seems fantastic and they always seem to be out

and about while you are trapped in a dead end job going nowhere.


If you dig a bit below the surface of their lives however it is likely that what

you see in a single photo every now and then is hardly reflective of their

entire day to day life.

No marriage is without conflict and challenges. No one has perfect kids.

In fact, it is more likely that these parents are pushing their kids to live a

lifestyle they will later revolt against. We see it with so many generations in

the past. Each generation eventually turns around and rejects the values of

their parents as being something they are not interested in.

If their job seems better than yours, maybe it is. Or perhaps it is just that

they seem to enjoy their work. Maybe you should be looking for a job you

will enjoy more (while working hard at the one you already have so long).

Maybe you need to put some extra effort into making the best of the job

you already have so that you can enjoy it more. And if Mr. Jones is a rocket

scientist or something you will never be, then maybe just focus on how

cool it is to have a rocket scientist living next door. Appreciate his success

and enjoy his stories and understand that you probably wouldn’t much like

doing the same job anyway.


KEEPING UP WITH THE JONESES

STEPS WE CAN TAKE

Now that we know how bad the Joneses situation is, let’s consider

how you can take positive steps to avoid feeling the overwhelming

urge to keep up with them.

Do your spending and money habits line up with your personal values?

Have you thought about what is really important to you? Do you really like

yachts? If not, maybe you get sea sick, so why do you care if somebody else

is on a yacht in the Caribbean?

Make financial decisions based on what you really want in life, rather than

what you think others think you should be doing.

Make sure you budget for some fun. Even if it is only a small amount and it

is something simple do not think that just because you are under financial

stress or debt review that you cannot have fun. So many things that are

great fun can be enjoyed for very little. Budget for it, that way, you’ll be able

to have fun without feeling guilty or stressed about it.

If you feel pressured by friends, next door neighbors, or even people in

your extended family to live outside of your means, then it might be time

to cut down on how much time you spend with them. Rather than surround

yourself with people who make you feel inadequate spend time with people

who lift you up and like you for who you are and not what you have.


KEEPING UP WITH THE JONESES

MOTIVATION

OR ENVY?

Seeing how others are doing and identifying exactly what it is they

have that you want can be a good motivator to adjust your current

situation to match your real values in life.

On the other hand if you are just plain envious, jealous and secretly hate

them a little then your constantly thinking about them and what they have

is just weighing you down. Stop focusing on it or you will only fill your

thoughts with negative emotions and end up very unhappy.


KEEPING UP WITH THE JONESES

REMEMBER YOUR

OWN DREAMS

Business photo created by pressfoto - www.freepik.com


Think about what is important to you and not what is important

to other people. If suddently everybody was raving about owning a

skunk and what a fabulous pet it makes, if your own goals are not

clear in your mind, then you may end up with a very smelly house.

Regularly focus on your own goals and how you are working towards them.

Let people have their own goals and be happy for them when they make

progress towards them but don’t start chasing other people’s dreams or

you will end up sorely disappointed later in life.

Keeping up with the Joneses may actually have dragged you further away

from achieving your original dreams. You may, in fact, have stopped chasing

your own dreams altogether. It may be time for you to seriously think about

what is important to you and how you can achieve your goals.

If family is important to you then you don’t need to be on a yacht in the

Caribbean to enjoy time with them. If your kids are the most important then

working long hours and never seeing them may not be the best way to give

them a good future. If you love fancy food then maybe you should head to

your own kitchen rather than expensive restaurants.

Money and status are no substitute for the real joys in life.


KEEPING UP WITH THE JONESES

BE AWARE OF

THE DANGERS OF

SOCIAL MEDIA

Someone recently said that previous generation’s version of Keeping

up with the Joneses was all about having material things. But that

nowadays it has ‘moved on to something that seems even more

disturbing. We gain our self worth on social media and who can

post the most interesting photograph and get the most amount of

likes and comments.’

They ask: ‘Why are so many people happy if a bunch of strangers liked

their photograph rather than having a few of their close friends and family

taking the time to truly be happy for them?’

If you find social media is subtly making you feel unsatisfied with your

current lifestyle then unfollow the people on social media who make you

feel bad rather than inspired.


It is also good to think about how the things you see on social media are

possible for you but the very first step is to get out of debt and not into more

debt. Let it show you what can be done once you finish paying off your debt

and start building wealth. Don’t let it make you focus on what you do not

have right now.

In many cases you can have the essence of what the Joneses are having

namely, good times with family and friends, nice meals and you can

probably do it at a much lower price (even free) if you plan well.


KEEPING UP WITH THE JONESES

SHIFTING FOCUS

When it comes to keeping up with other people, keep in mind that

you are really the only one keeping score. If you’re really set on

impressing people in your neighborhood, why not do it with kindness

or generosity?

Be there for people, lend them a helping hand, be a listening ear and offer

advice when you can. Let people know they can come to you for support.

Offer your experience and wisdom to people around you and the Joneses

will end up being impressed rather than being amused by someone trying

to copy them.


KEEPING UP WITH THE JONESES

YOU CAN’T KEEP UP

WITH THE JONESES

Trying to keep up with the Joneses is a losing battle anyway. Every

time you think you are close, someone else will set the bar even higher.

As soon as you buy the latest gadget or device, the manufacturer just

releases a newer, cooler one.

Once you renovate your house to match current trends the trends go and

change and your place becomes outdated again. It is just so much better to

make financial decisions based on what you really want and can realistically

afford and not on what you think you have to do to keep up with the Joneses.

Before you try to keep up with the Joneses, be

sure they’re not trying to keep up with you

- Erma Bombeck


KEEPING UP WITH THE JONESES

THE DEBT

FREE GOAL

If your goal really is total debt freedom, then making a few short

term sacrifices will be worth it. But you have to realize that when you

enter debt review it makes you act different to the people around you

who are always spending money on stuff that is not that important.

Well known money guy Dave Ramsey says, “No one accidentally wins at

anything. You have to pay a price to win, and you don’t win if you don’t pay

a price.”

This is true. If your goal is getting out of debt then you actually don’t want

to keep up with the Joneses who are neck deep in debt. In fact, you want

to live entirely differently from them. You want to avoid the mistakes they

are making and shift your focus off them and what they have onto yourself

and what you really want. Once you figure out what is really important to

you (like financial freedom or building wealth for your kids) then you will

be happy to work hard towards that goal.


KEEPING UP WITH THE JONESES

As a benefit, when you’re not so focused on keeping up with the Joneses,

you’ll be surprised to find that you will stop caring what other people think

about your bank balance and you may even identify a few people in your

life who are keeping you in debt.

If you are able to shift focus onto what you already have and where you

are going, once you cut envy and jealousy from your life you will be much

happier. Each time you make that monthly debt review payment it will bring

you a feeling of joy as you take another step closer to your goal. Every time

you avoid spending money on things you don’t need you will feel a surge

of satisfaction that you are staying focused. And when you look over at the

Joneses next door you will shake your head in pity for them not envy.


We appear in the following courts and act as a correspondent for Dc’s

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21 Station Street, Paarl, 7646


What if...

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Is he really insured, and if so, properly?

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NEWS MOODY’S DON’T

THINK SA IS JUNK

REPO RATE

JUST YET

UNCHANGED AT 6.75%

The Reserve Bank Governor

Lesetja Kganyago recently

announced that there would be

no change to the current 6.75%

Repo rate. The decision is based

on a few factors such as inflation

(for food & electricity etc) staying

stable at 4.4%; a slightly lower

than expected GDP projection

and an increase in the price

of Brent crude (oil). They also

expect to see the world economy

slow down and see more

problems ahead with things like

loadshedding and a decline in

business confidence.There is

however a projected 25 base

point increase pending by the

end of the year meaning that the

Repo Rate will then potentially

be at 7% by December 2019.

Rating Agency Moody’s has

once again pushed back

making a call on South Africa’s

credit rating (which currently

sits just above “junk” status at

BAA3).

The agency was expected to

release a reviewed rating this

month but have decided to hold

off till later in the year. This will

allow certain local events to

take place, such as the coming

elections in May 2019, before

they make a call.

It will also give them time to see

what happens with Eskom and

the local GDP and inflation.

They have indicated that, at

present, the country’s situation


is much like that of many other

BAA3 rated countries during

a global recession. This is why

their last rating came with a

“stable outlook” which means

they expected little to change

for the better or worse in the

months ahead.

DEBT REVIEW

AWARDS

The Annual Debt Review

Awards industry wide peer

review is underway. Check

your inboxes for an invite to

participate. The peer reviews

are done online and most of

the Peer Reviews are only 10

questions long and are fairly

quick to complete.

Results from across the

industry and input from all

participants are added together

(automatically by the online

software) on a percentage

bases and reveal the results.

The process and results are

then audited by an external

company (BKF) and once the

auditors give the go ahead can

be released. The results will be

announced this year on the

20th of July 2019at the modest

red carpet Gala evening in

Mountedgecombe in Durban,

KZN.

Worried the organisers may

not have your current email

address?

Then email:

iwanttobepartoftheAwards@

debtfreedigi.co.za


VW ORDERED TO PAY

BACK MILLIONS

The National Credit Regulator

(NCR) recently took Volkswagen

Financial Services South Africa

to the National Consumer

Tribunal (NCT) over fees which

most dealers charge customers

when they buy a new car. These

are commonly called ‘on the

road fees’. These fees can

add up to several thousand

rand and cover a range of

minor items not automatically

included in the sale but later

added to the account. These

can be for several small items,

from getting new licence plates

to having the car cleaned

and filled up at a local petrol

station.

The main issue is whether these

fees get included and how

interest is calculated on the

customer’s account (if these

fees show up there) and if they

are allowed for in the National

Credit Act and Regulations.

Right off the bat, it is clear that

the NCA does not mention such

fees. Thus the NCT found that

Volkswagen Financial Services

South Africa should not be

charging for them. However

recently other credit providers

have had rulings from the NCT

that have indicated that they

were able to charge for fees

not mentioned in the NCA

specifically.

More than just order

Volkswagen Financial Services

South Africa to stop charging

such fees in the future the

tribunal has now ordered that

VW figure out who they have


REPORTS DUE

IN MAY 2019

charged these fees over the

many years and after providing

the NCR with a report should

take steps to pay back all the

affected consumers.

Ms Nomsa Motshegare, CEO

of the NCR says: “The NCR

welcomes this judgment as it

affirms the protection given

to consumers by the National

Credit Act against illegal

charges and fees on credit

agreements”.

In terms of Regulation 69(2) of

the National Credit Regulations,

a Debt Counsellor must submit a

statistical return to the National

Credit Regulator. The statistical

return (Form 42 attached) must

be submitted to the NCR in

respect of the quarters and by

the due dates set out in the table

on the next page.

It remains to be seen if

Volkswagen Financial Services

South Africa now decide to try

to appeal the matter in a higher

court or will go about paying

back the funds.


South Africa’s

leading Debt Counsellors

since 2007

Start getting out

of debt today!

www.creditmatters.co.za

Call our national

call centre on

086 111 6197


REPORTS DUE IN MAY 2019

QUARTER

REPORTING

PERIOD

DUE DATE

1st Quarter 1 January – 31 March 15 May

2nd Quarter 1 April – 30 June 15 August

3rd Quarter 1 July – 30 September 15 November

4th Quarter

1 October – 31 December

15 February

We hereby request that you submit the statistical return by the due dates

as specified above. Failure to do so may result in the National Credit

Regulator taking appropriate enforcement action in terms of the Act.

The completed forms should be sent to dcreturns@ncr.org.za

For further information or clarification, please do not hesitate to contact:

Nkosana Ngcobo on 011 554 2744

or email: nngcobokamsiza@ncr.org.za


KZN

20 JULY 2019

WWW.DEBTREVIEWAWARDS.CO.ZA

Each year all NCR registered Debt Counsellors and Credit providers

are afforded the chance to participate in an industry-wide peer

review that culminates in the Annual Debt Review Awards Gala.

These Awards recognizes excellence in the field of debt review and

are handed out at a modest red carpet gala event


THURSDAY

One of the new arrangements this

year is an “open day” for registrants

in the area. Local DCs and CPs will

be able to go and visit one another

on the Thursday preceding the gala

and get to know one another better.

If you are a local DC or CP (or will

be visiting at the time) then you can

speak to the organizers about going

to visit the local firms or hosting

guests:

DebtReviewAwardsopenday@debtfreedigi.co.za

FRIDAY

Several sponsors including the

various PDAs, banks and others will

be hosting a series of short workshops

on Friday, 19 July. Friday can be

tricky and there is the usual travel

time needed so these workshops will

be short and sweet and guests will

be able to attend several in a short

time period. The workshops will start

mid morning and end before rush

hour. This will allow guests to interact

with senior staff members from the

various sponsors, and discuss key

industry issues and challenges. If you

would like to attend please email:

DebtReviewAwardsWorkshop@debtfreedigi.co.za

Visitors will be able to get together

for an informal dinner at a local

restaurant if they wish. This presents

another opportunity to chat and

get to know one another better in a

relaxed social environment.

SATURDAY

This year the main event, the

red carpet Gala will be held on

Saturday evening 20th July in Mount

Edgecombe, KZN. The venue is not

very far from the large international

airport and over 150 guests from

across the country will attend. 50

different Debt Counsellors and many

credit providers will be recognized on

the night as guests are able to mingle,

nibble and hear presentations.

SUNDAY

After the event and before everyone

heads off home, there will be another

chance for guests to enjoy a quick

bite to eat on Sunday morning at

a local eatery. One last chance to

congratulate the winners and swop

business cards. If you would like to

know more about the event, or attend

any of the workshops, open day or

the gala event feel free to email:

DebtReviewAwards2019@debtfreedigi.co.za


DEBT REVIEW

SCHOOL

Starting debt review can be a

great time to change your habits

and get fit financially and

physically.


PROFESSIONAL DEBT

COUNSELLING ATTORNEYS

TEL: 021 872 1968

11 MARKET STREET, PAARL

www.steyncoetzee.co.za


Die Republiek van

SKYT AFRICA

Hi Almal,

Ek het al baie in die verlede gesê hierdie is nie n politieke rubriek nie

maar om die komende verkiesing ongesiens of sonder enige kommentaar

te laat verby gaan sal soortgelyk wees aan n volstruis wat sy kop in die

sand druk.

Eerstens om n sê in die politieke toekoms van die land te hê moes jy

geregistreer het, indien nie moet jy maar verlief neem met wat gebeur en

nie na die tyd steen en been kla nie. Gebruiklik is daar voor n verkiesing

heelwat protesaksies maar dit blyk hierdie jaar erger as voorheen, dit is

te betwyfel of dit slegs ontevredenheid oor gebrekkige dienslewering is en

daar is beslis politieke ondertone wat hierdie aksies aandryf.

Indien jy wel geregistreer het is daar n rekordgetal 48 politieke partye wat

om jou stem of kruisie meeding. Almal belowe die son, maan en sterre.

Sommige party se verkiesingsmanifeste sou lagwekkend gewees het maar


gegewe die valse beloftes wat dit inhou vir die oningeligtes is dit hartseer

dat kiesers aan hul neuse rondgelei word.

Beloftes van alles wat gratis gaan wees soos eiendom, opvoeding, krag,

water noem maar op jy gaan vir niks hoef te betaal nie. Elke sent wat die

staat verdien is deur belastingheffings en n eenvoudige vraag is waar

gaan die geld vandaan kom om aan hierdie beloftes uitvoering te gee?

Die staat se uitgawes oorskry reeds sy inkomste en addisionele uitgawes

gaan die situasie/tekort net vererger.

Waar jy die 8ste Mei jou kruisie gaan trek is jou persoonlike saak en daar

is nog baie onsekerheid by kiesers met watter party hulle die pad wil

saam stap vir die volgende vyf jaar. Dit blyk dat op plaaslike regering vlak

koalisies bepalend sal wees of ons nou daarvan hou of nie.

Net soos die “beloftes” wat die politieke partye voorhou is daar ook

besighede wat soortgelyk die son, maan en sterre belowe wanneer dit

kom by die hantering van persoonlike skuld. Beloftes van n kitsoplossing

wat eensklaps al jou finansiële probleme soos mis voor die son gaan laat

verdwyn. Net soos jy omsigtig jou kruisie moet trek tydens die verkiesing

doen eers huiswerk en navorsing alvorens jy jou lot by sulke besighede

plaas.

Vorm n koalisie met n goeie, betroubare skuldberader saam met wie jy n

pad kan stap om finansiële gemoedsrus te kry. Moenie mislei word deur

te glo alles in die toekoms is gratis nie.

Groete,

Christo

Christo Hattingh

Kyk gerus my LinkedIn profile:

https://www.linkedin.com/in/christo-hattingh-351a52130/

* Seriously please do let us know if you found this article to be

funny/offensive/amusing/interesting feedback@debtfreedigi.co.za


www.collectnetpda.co.za


Debt Counsellors Collective

Now that iDCC is a member of

CIF we encourage all registered

DC’s who are not affiliated with

an association to join so that DC’s

get the opportunity to influence

decisions taken by the NCR.

Flooding dodgy banks and

large corporations with

questions and complaints.

Writing letters to the press

and politicians. Boycots and

non-compliance. These are the

tools of the modern activist.

With no violence, this kind of

silent activism brings about

change. Join us & Our Partners

now, it’s fully confidential.

Members please

have your say on the

latest poll regarding

credit bureaus on the

member’s Facebook

Page.

www.allprodc.org


We are looking for a

member to take the role

of Association Secretary.

Are you interested?

Email:

BDCF@offsite.co.za

www.bdcf.co.za

Upcoming Regional Meeting Dates:

Eastern Cape - 17 May 2019

Free State - 10 May 2019

Gauteng - 14 May 2019

KZN - 17 May 2019

Western Cape - 21 May 2019

NDCA are ready to help

consumers who are

struggling with debt.

Visit our site for more

information

www.dcasa.co.za


WE’RE HIRING!

OPPORTUNITIES EXIST

Nationally

FINANCIAL WELLBEING OFFICER

Help South Africans become Debt Free

Do you want to be part of the solution?

Do you enjoy interacting with people?

Are you an energetic self-starter?

If you believe you have what it takes and have a Grade 12 certificate

with 2 year’s work experience

Send your CV to jocelynl@octogen.co.za

Or visit us at

https://www.careerjunction.co.za/companies/33313/octogen

and

https://www.indeed.com/cmp/Octogen-(pty)-Ltd


SONNENBERG V WESBANK

TOPIC: REPOSSESSED CAR & RECKLESS CREDIT

In October 2017, Wesbank obtained a default judgment against

Ms Sonnenberg and were thus able to repossess her vehicle. At the

time, Ms Sonnenberg was behind on payments and an employee took

receipt of the summons when it was served but Ms Sonnenberg was

not aware of this until the repossession.


After making a temporary catch up repayment plan Ms Sonnenberg

applied for relief via Kimberly High Court in Feb 2018.

One issued raised was that Ms Sonnenberg said she had made a verbal

payment plan with the collections attorney but the attorneys denied this.

This is a good reminder to get all such arrangements on paper and not

just via the phone.

Ms Sonnenberg raised the defense that Wesbank had originally recklessly

granted her credit when she could not really afford it. The court papers

show the calculations as to what she had available at the time and the

calculations showed nothing for food, clothing, transport in the affordability

assessment.

Apparently Wesbank never checked whether these funds were available

from her husband’s income or not. Wesbank’s defense was that since the

couple was married out of community of property they did not have to

check.

The ruling was given upholding the requirements of the National Credit

Act that a client’s entire situation and all financial means, prospects and

obligations need to be considered when getting credit. The court therefore

rescinded the granted judgment but did not rule on the reckless credit

finding rather leaving that to a trial court.


KIM

ARMFIELD

AND ASSOCIATES

When debt

review clients

don’t pay they

put your entire

practice at risk!

We make sure you get paid for

the work you’ve already done!

Tel: 021 949 1758 | 084 702 3760

info@legalwc.co.za | www.capeattorney.co.za


DEBT REVIEW

SCHOOL

If you are in debt review

it means you are not yet

financially sound enough

to get more credit...

Not yet.


Following on from a sucessful event in Gauteng, Carina Best

(Head of Alternative Collections at African Bank) and her team

hosted their second well supported workshop with Cape Town

Debt Counsellors this month

Representatives from small and large debt review companies

were in attendance, there were a few new faces, as well as the

more familiar ones. The mixed audience added to the relaxed

mood and good interation between the African Bank Team and

attendees.

Carina Best introduced the day and her team to the audience

who have often dealt with the various team members over the

phone or via email while assisting consumers with debt review

matters. Many of the African Bank team were on hand at the

venue in Newlands Cape Town to interact with Debt Counsellors

and attorneys and to help answer their many questions. It was

enjoyable for those attending to learn a bit more about the

people they correspond with so regularly from details about their

education, work history and family status to what they like to do

in their private time.

There were videos to watch both from the African Bank CEO

as well as about the “my world” account, which will soon be

available to those under debt review as African Bank move into

the transactional account side of banking in the near future (as

opposed to more loans oriented banking).

The team then spoke about various functions and new

procedures and received suggestions from the audience on ways


to streamline and improve their processes. The tone was light

and friendly, with many jokes and laughs shared and pieces of

paper thrown at poor Paul. That is not to say that some hard

questions (such as replacement insurance and legacy matters)

were not fielded from the audience.

In many ways African Bank lead the way among credit providers

in dealing with Section 103(5) In Duplum matters and this was

well received by attending Debt Counsellors who asked if African

Bank could please explain this to other credit providers. African

Bank also enjoy a sterling reputation in avoiding uneccessary

legal action which was another topic of praise from the audience.

There were both short breaks and a delicious meal which

allowed all attending to chat about the presentations and some

of the topics raised in a relaxed setting. The day was a great

success and the local Debt Counsellors expressed their gratitude

to the team and bank for going to the expense of travelling to

engage with them.


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All professionals have professional indemnity if the unforeseen

happens. Do you as a professional Debt Counselor have

professional indemnity as stipulated by the ethical code?

contact us today for more information

086 111 2882

TELEPHONE 0861 112 882 FACSIMILE 086 605 9751 MOBILE 082 449 6856 EMAIL andre@in2insurance.co.za

www.in2insurance.co.za


CLICK THE C

SERVICE D

DEBT COUNSELLORS

SUPPORT

SERVICES

TRAINING

FINANCIAL

INSURANCE


IRECTORY

ATEGORY

DO YOU WANT TO LIST

YOUR COMPANY?

directory@debtfreedigi.co.za

LEGAL

CREDIT BUREAUS

PAYMENT

DISTRIBUTION

AGENCIES

CREDIT PROVIDER CONTACT

DETAILS & ESCALATION PROCESS


DEBT COUNSELLORS

GAUTENG

KWAZULU-

NATAL

FREE STATE


LIMPOPO NORTH WEST EASTERN CAPE

MPUMALANGA NORTHERN CAPE WESTERN CAPE


PENNY WISE

Cathy Foster

Debt Counsellor – NCRDC1977

Penny Wise Debt Counselling

Tel: (011) 679 1540

Fax: 086 719 3378

Mobile: 083 298 4467

Email: cathy@pennywise.co.za

www.pennywise.co.za

Credit Matters

South Africa’s Leading

Debt Counsellors

14th Floor, The Pinnacle

Cnr Strand & Burg St

Cape Town

Tel: 086 111 6197

Fax: 021 425 6292

info@creditmatters.co.za

GAUTENG

Armani Debt Counselling

Take the First Step

to Financial Freedom

Tania Dekker

Tel: 011 849 3654 / 7659

www.armanigroup.co.za

Dynamix Debt Counselling TLC

Alida Christie NCRDC2324

Office 1, 34 Beefwoodstreet,

Vanderbijlpark, 1911

Tel: 079 520 4369

Tel: 016 100 8020

tlcdebt@mweb.co.za


Specialist Debt Management Centre

Beverley Ludick, NCRDC948

Pretoria

Tel: 012 377-3557

Email: obligco@gmail.com

Email: dc@obligco.co.za

www.obligco.co.za

Creators In Financial Wellbeing

NCRDC677

You Are Not Alone

We’ll handle your creditors so you

don’t have to!

1 Dingler Street, Rynfield, Benoni

0861 10 11 00

info@debtmend.co.za

www.debtmend.co.za

“Helping you the SMART way”

0860 061 008

info@smartdebtadvisors.co.za

www.smartdebtadvisors.co.za

NCRDC197

Tel: 011 660 9970

Fax: 086 540 5017

KRUGERSDORP

e-mail: nicky@nvdmdc.co.za

www.nvdmdc.co.za

All Debt Solutions

Fast tracking your financial freedom

Tel: 0861 255 3328 / 021-557 9981

Email: info@allds.co.za

www.alldebtsolutions.co.za

https://www.facebook.com/

alldebtsolutions

CCDC

Consumer Care Is our Priority.

Tel: 018 462 4263 / 073 624 6949

Email: info@ccdc.co.za

www.ccdc.co.za


DEBT NO MORE - NCRDC1973

Christelle du Toit

Tel: 016 423 6301

Cell: 083 321 6731

FAX: 086 219 3306

Email: debtnomore@jjckruger.co.za

www.jpawfin.co.za

GAUTENG

MV Business Empowerment

9 River Road

Morning Hill

Bedfordview

(next to Eastgate mall)

Tel: 083 490 3339

velaphi@infitech.co.za


Get

debt relief ¨

with our

help today!

016 423 3029

082 812 5442

info@resolutiondebt.co.za

South Africa’s

largest and most

trusted, multi-award

winning Debt Counsellor.

086 999 0606

info@debtbusters.co.za

www.debtbusters.co.za

2014

Debt Review

Awards

WINNER

2016

Debt Review

Awards

WINNER

2017

Debt Review

Awards

WINNER

Tel: 010 005 5326

Cell: 083 748 4426

FAX: 086 571 7003

www.dpalegal.co.za


South Africa’s

largest and most

trusted, multi-award

winning Debt Counsellor.

National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688

www.nationaldebtadvisors.co.za

086 999 0606

info@debtbusters.co.za

www.debtbusters.co.za

KWAZULU-

NATAL

2014

Debt Review

Awards

WINNER

2016

Debt Review

Awards

WINNER

2017

Debt Review

Awards

WINNER

The simple way to a

debt free, stress free life!

DEBT COUNSELLING

Debt Review Specialists

23 Coronation Road

Mithanagar

Tongaat

4399

Tel: 071 222 9481

Tel: 032 944 3446

admin@kmadebt.co.za

www.kmadebt.co.za

FINANCIAL COACHING

MONEY MANAGEMENT

EMPLOYEE ASSISTANCE

PROGRAMMES

031 303 3690 / 084 250 2356

romie@debtfinesse.co.za

www.debtfinesse.co.za

FINESSE


Get

debt relief ¨

with our

help today!

082 937 7874

082 812 5442

denise@kzndebtcounselling.co.za

“Helping you the SMART way”

0860 061 008

info@smartdebtadvisors.co.za

www.smartdebtadvisors.co.za

Credit Matters

South Africa’s Leading

Debt Counsellors

14th Floor, The Pinnacle

Cnr Strand & Burg St

Cape Town

Tel: 086 111 6197

Fax: 021 425 6292

info@creditmatters.co.za


National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688

www.nationaldebtadvisors.co.za

Credit Matters

South Africa’s Leading

Debt Counsellors

14th Floor, The Pinnacle

Cnr Strand & Burg St

Cape Town

Tel: 086 111 6197

Fax: 021 425 6292

info@creditmatters.co.za

FREE STATE

South Africa’s

largest and most

trusted, multi-award

winning Debt Counsellor.

086 999 0606

info@debtbusters.co.za

www.debtbusters.co.za

2014

Debt Review

Awards

WINNER

2016

Debt Review

Awards

WINNER

2017

Debt Review

Awards

WINNER


LIMPOPO

National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688

www.nationaldebtadvisors.co.za

Credit Matters

South Africa’s Leading

Debt Counsellors

14th Floor, The Pinnacle

Cnr Strand & Burg St

Cape Town

Tel: 086 111 6197

Fax: 021 425 6292

info@creditmatters.co.za

Depopulating a generation of over

indebted and populating a debt free

generation.

Office no 2, 5 A Schoeman Street,

Polokwane

Tel: 0152912731

Tel: 0877028518

Email: admaau66@gmail.com

www.maaudebts.co.za

South Africa’s

largest and most

trusted, multi-award

winning Debt Counsellor.

086 999 0606

info@debtbusters.co.za

www.debtbusters.co.za

2014

Debt Review

Awards

WINNER

2016

Debt Review

Awards

WINNER

2017

Debt Review

Awards

WINNER


MPUMALANGA

GMC Debt Solutions

52 Kerk Street

Lydenburg

Tel: 087 802 7054

Tel: 087 151 1034

www.gmcdebtsolutions.co.za

National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688

www.nationaldebtadvisors.co.za

Romi Oliphant

Debt Counselling

Service

013 650 0116

rodcs4u@gmail.com

http://rodcs4u.webs.com/

WhatsApp

062 502 5987

South Africa’s

largest and most

trusted, multi-award

Credit Matters

winning South Africa’s Debt Counsellor.

Leading

Debt Counsellors

14th Floor, The Pinnacle

Cnr Strand & Burg St

086 Cape 999 Town 0606

Tel: 086 111 6197

Fax: 021 425 6292

info@creditmatters.co.za

info@debtbusters.co.za

www.debtbusters.co.za

2014

Debt Review

Awards

WINNER

2016

Debt Review

Awards

WINNER

2017

Debt Review

Awards

WINNER


National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688

www.nationaldebtadvisors.co.za

Credit Matters

South Africa’s Leading

Debt Counsellors

14th Floor, The Pinnacle

Cnr Strand & Burg St

Cape Town

Tel: 086 111 6197

Fax: 021 425 6292

info@creditmatters.co.za

NORTH WEST

Depopulating a generation of over

indebted and populating a debt free

generation.

Office No. 6, Prime Pharm Building,

36 Dr Nelson Mandela Drive

Tel: 0186320053

Tel: 0877026744

Email: papi@maaudebts.co.za

www.maaudebts.co.za

South Africa’s

largest and most

trusted, multi-award

winning Debt Counsellor.

086 999 0606

info@debtbusters.co.za

www.debtbusters.co.za

2014

Debt Review

Awards

WINNER

2016

Debt Review

Awards

WINNER

2017

Debt Review

Awards

WINNER


National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688

www.nationaldebtadvisors.co.za

Credit Matters

South Africa’s Leading

Debt Counsellors

14th Floor, The Pinnacle

Cnr Strand & Burg St

Cape Town

Tel: 086 111 6197

Fax: 021 425 6292

info@creditmatters.co.za

NORTHERN CAPE

South Africa’s

largest and most

trusted, multi-award

winning Debt Counsellor.

086 999 0606

info@debtbusters.co.za

www.debtbusters.co.za

2014

Debt Review

Awards

WINNER

2016

Debt Review

Awards

WINNER

2017

Debt Review

Awards

WINNER


National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688

www.nationaldebtadvisors.co.za

Credit Matters

South Africa’s Leading

Debt Counsellors

14th Floor, The Pinnacle

Cnr Strand & Burg St

Cape Town

Tel: 086 111 6197

Fax: 021 425 6292

info@creditmatters.co.za

EASTERN CAPE

South Africa’s

largest and most

trusted, multi-award

winning Debt Counsellor.

086 999 0606

info@debtbusters.co.za

www.debtbusters.co.za

2014

Debt Review

Awards

WINNER

2016

Debt Review

Awards

WINNER

2017

Debt Review

Awards

WINNER


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WESTERN CAPE

" There is no Dignity quite so Impressive and

Independence quite so Important,

No

Living within your Means. - Calvin Coolidge "

as

For your Convenience Our Range of Services are

Available to you Anywhere in South Africa!

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079 317 8557

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“There is no dignity quite so

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For your Convenience Our Range of

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CHOOSE

YOUR

FINANCIAL

FREEDOM

TODAY

Tel: 021 204 8001 • Email: dc@ffsdc.co.za

www.financialfreedomsolutions.co.za

dc@ffsdc.co.za

www.financialfreedomsolutions.co.za


ISISEKO DEBT HELP

Get Your Life back on track

TEL: 087 230 0223

FAX: 086 551 1649

EMAIL: makanti@isiseko.co.za

WEB: www.isiseko.co.za

NCRDC1142

No 2 Golden Isle Building

281 Durban Road, Oakdale,

Bellville, 7535

Tel: 086 111 3749

Email: help@zerodebt.co.za

www.zerodebt.co.za

Credit Matters

South Africa’s Leading

Debt Counsellors

14th Floor, The Pinnacle

Cnr Strand & Burg St

Cape Town

Tel: 086 111 6197

Fax: 021 425 6292

info@creditmatters.co.za

All Debt Solutions

Fast tracking your financial freedom

Tel: 0861 255 3328 / 021-557 9981

Email: info@allds.co.za

www.alldebtsolutions.co.za

https://www.facebook.com/

alldebtsolutions


South Africa’s

largest and most

trusted, multi-award

winning Debt Counsellor.

Your Guide to Financial

Wellness and Recovery

0861 229 922

info@debthero.co.za

www.legalhero.co.za

086 999 0606

info@debtbusters.co.za

www.debtbusters.co.za

2014

Debt Review

Awards

WINNER

2016

Debt Review

Awards

WINNER

2017

Debt Review

Awards

WINNER

WESTERN CAPE

CONSUMER DEBT SUPPORT

Annienne Nel NCRDC2452

Kairo’s House, 22 Fairfield

Southstreet, Parow, 7550

Office: 021 930 5791

Cell: 082 641 2328

Fax: 086 563 3264

e-mail: info@debtcentre.co.za

www.debtcentre.co.za


“Helping you the SMART way”

0860 061 008

info@smartdebtadvisors.co.za

www.smartdebtadvisors.co.za

RIGHT STEP TO A

DEBT FREE LIFE.

086 111 2274

081 785 3724

info@logicaldebtsolutions.co.za

www.logicaldebtsolutions.co.za


SUPPORT SERVICES

011 451 0041

0860 072 768

www.dcmax.co.za

lana Van Herwaarde,

DC Operation Centre (PTY)

Tel: 0867227405 Email:

info@dcoperations.co.za

www.dcoperations.co.za

COMING SOON

TRAINING


DEBT

086 126 6562

debt@one.za.com

www.one.za.com

INSURANCE


LEGAL

www.embattornerys.co.za

Liddles & Associates

“It always seems impossible until it

is done” N. Mandela

(T) 021 930 5790

(F) 0866070940

(E) frontdesk@liddles.co.za

www.liddles.co.za

Steyn Coetzee Attorneys /

Prokureurs

Adri de Bruyn

11 Market Street / Markstraat 11,

Paarl, 7646

Tel: 021 872 1968

Fax: 021 872 2678

adri@steyncoetzee.co.za

RM Brown and Associates

16th Floor, The Pinnacle

Cnr Strand & Burg St

Cape Town

Tel: 021 202 1111, f: 021 425 0875

Email: roger@rmbrown.co.za


Kim Armfield

Attorney & Family Law Mediator

Address: Unit 1B, FinansHuis, 7

Voortrekker Road, Bellville

Tel: 021 949 1758 / 021 945 2526

Office cell: 084 8588 284

kim@legalwc.co.za

Your Debt Counselling Attorneys

Johannesburg | Cape Town

Andre Van Zyl

021 494 4862

info@bassonvanzyl.com

www.bassonvanzyl.com

We are a Port Elizabeth based law firm

capable of assisting Debt Counsellor’s

throughout South Africa with matters

within the following areas of jurisdiction:

Port Elizabeth;

New Brighton;

Motherwell;

Uitenhage;

Hankey;

Jeffreys Bay; and

Humansdorp

082 974 0866

carla@cvlaw.co.za

www.cvlaw.co.za

CREDIT

BUREAUS

Xpert Decision Systems (XDS)

South African information bureau.

Cape Town | Johannesburg

+27 11 645 9100

info@xds.co.za

www.xds.co.za


PAYMENT

DISTRIBUTION

AGENCIES

COLLECTNET

+27 12 140 0602

DC Partner

044 873 4530

Hyphen PDA

011 303 0060

NPDA

0861 628 628


SYSTEM PROVIDERS

FINWISE - INNOVATIVE DEBT M

Tel: 011 451 0041

Tel: 0860 072 768

www.maxpayments.co.za

Debt Review Software

Tel: 016 004 0031

South Africa’s premier

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CAPITEC CONTACT DETAILS

Form 17’s

Proposals

Court documents

General Queries

Refund Requests /

Cancellation of Debit Orders

Complaints

Insurance Certificates

ccsforms17@capitecbank.co.za

ccsproposals@capitecbank.co.za

ccsdebtrevieworders@capitecbank.co.za

ccsdebtreviewqueries@capitecbank.co.za

ccsrefundrequests@capitecbank.co.za

ComplaintManagement@capitecbank.co.za

coming soon

Sharecall Contact Number 086 066 7783 - Select Option 2

ESCALATION PROCESS

COMING SOON


Debt Review DepartmentEmail Address

Turnaround Time

Contact Details Standard Bank Debt Review

Debt Review Call Center: 0861 111 525 or 0861 111 402

Debt Review Documents*:

DRApplications@standardbank.co.za

Debt Review Service requests: debtreviewservices@standardbank.co.za 5 days

Debt Review payment queries: DRPayments@standardbank.co.za 7 days

Debt Review administrative requests**: DebtReviewAdmin@standardbank.co.za 5 days

Debt Review complaints and escalations: debtreviewcomplaints@standardbank.co.za 5 days

Reckless Lending Allegations

recklesslendingallegations@standardbank.co.za

*Debt Review documents: Form 17.1; Form 17.2; Proposals; Court Applications; Court Orders

**Debt Review Admin related requests: debit order cancellations; statement requests ; refunds; paid up

letters; account closure instructions; settlement balances; or outstanding balances

Other Standard Bank areas

Credit Card 086120 1000

Diners Club 0113588400 / 0860346377

Vehicle Asset Finance Recoveries 0861102347

Vehicle Asset Finance Collections 0861102347

Home Loans Pre Legal 0860102270

Home Loans Customer Service 0860123001

Standard Bank Insurance 0860123911

Deceased Estates 0861001868


Contact

Function

C A L L C E N T E R

0861 005 901 For your convenience we now offer the opportunity to call our contact centre

and be transferred to specic departments. Note that our consultants in these

departments are subject matter experts and will best be able to assist you for

a swift resolution. Please note; choosing the incorrect option could delay the

resolution of your query.

Option 1: Updated balances, statements, settlements, refunds and

Option 1: general enquiries

Option 2: Any COB related queries

Option 3: Any Proposal related queries

Option 4: Any termination related queries

Email Turnaround Time Function

Certicate of Balance

DRCob@absa.co.za

DRTransfer@absa.co.za

DCCOBQueries@absa.co.za

Debitordercancellations@absa.co.za

DCRCAssessment@absa.co.za

5 Business Days

5 Business Days

5 Business Days

5 Business Days

10 Business Days

Processing of the 17.1 application.

Manage all debt counsellor swaps and

system changes.

Manage all COB escalated queries and

follow-ups.

Manage all debt order cancellation requests.

Manage reckless lending allegations.

DCKYC@absa.co.za

KYC

For return of KYC Forms.

Authorised Financial Services Provider and a registered credit provider (NCRCP7)

Absa idirect’s FSP 34766

Absa Insurance Company’s FSP 8030


Email Turnaround Time Function

Proposals

DCProposalquery@absa.co.za

DRProposals@absa.co.za

10 Business Days

10 Business Days

Manage all proposal escalated queries and

follow-ups.

Processing of the following documents:

17.2, proposals, proof of insurance,

17.3 & supporting documentation.

Legal

Courtapp@absa.co.za 5 Business Days All legal documents to be provided to this

department for review.

Termination

DRTerminations@absa.co.za

17.4@absa.co.za

10 Business Days

10 Business Days

Manage all termination queries,

reinstatements requests and follow-ups.

Manage all voluntary termination requests.

DCClearanceCerticate@absa.co.za

Clearance

5 Business Days Manage all clearance-related queries

and requests.

Service

Types of queries managed by this department; Account closure conrmation/request. Balance conrmations/

query. Account status conrmation, statement request. Paid up letter request. Refund request. All relevant

operational queries to be referred to operational queues mentioned.

Debtreviewqueries@absa.co.za

Debtreviewmanager@absa.co.za

10 Business Days

5 Business Days

Entry point for all query-related matters.

Escalation point for all query-related matters.


First National Bank – a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider (NCRCP20). Reg. No. 1929/001225/06.


DC Query Process DC Query Process

www.nedbank.co.za


17.1, 17.2, Proposals, General

correspondence:

debtcounselling@africanbank.co.za

To register for Legal Web Access:

lwac@africanbank.co.za

Reckless Lending investigations:

RLA@africanbank.co.za

ESCALATION PROCESS

DETAILS COMING SOON

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