Debtfree Issue 202303 - DB SE

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FROM THE DESK AMENDMENTS TO THE NATIONAL CREDIT ACT COULD HELP MUNICIPALITIES AND SCHOOLS RECOVER BILLIONS Including municipal rates and school fees as part of debt restructuring would be a win-win for consumers, schools, municipalities.
Municipalities, schools and body corporates, amongst others, could see improvements in outstanding payments if adjustments were made to the National Credit Act to allow the restructuring of these debts in debt counselling. Municipal rates, levies, school fees, money owed to medical practices and attorneys and other similar debts fall outside of the National Credit Act as it currently stands. This means debt counsellors cannot renegotiate these debts. A Statistics SA report on civil cases for debt shows that consumers are increasingly tending not to repay this kind of debt. Summonses issued for debt relating to services, which comprise mainly municipal rates, increased by around 25% in November 2022 both for businesses and individuals, compared to the same month in 2019. Comparative data for school fees and tuition, for the same periods, show increases of up to 33% for judgements. At the same time the volume of overall summonses have decreased. “It’s likely that some creditors are realising that getting a summons isn’t the most effective way of recovering what’s owed and financially stretched consumers are prioritising debtors who shout the loudest. Typically, these are businesses rather than schools and municipalities, which is why a lot more people are behind on repaying this kind of debt,” says Benay Sager, chairman of the National Debt Counsellors Association, of which DebtBusters is a member. The 2022 data was compared to 2019 as this is the first pre-Covid years. Data for 2020 and 2021 is not typical because of Covid-19.
Page 1 and 2: SPECIAL EDITION HOW BANKS DIE Issue
Page 3 and 4: WHAT MAKES US EXCELLENT? / Unimpair
Page 5: FROM THE EDITOR We also talk about
Page 9 and 10: CONTENTS THIS IS HOW BANKS DIE LEAR
Page 11: No more debt-stress. Let’s get it
Page 15 and 16: DEBT REVIEW AND YOUR CREDIT SCORE B
Page 17: Even giving people credit, which is
Page 20: DEBT REVIEW AND YOUR CREDIT SCORE S
Page 23 and 24: Similarly, bonds with longer maturi
Page 25: paid a share of the money that’s
Page 28 and 29: DEBT REVIEW AND YOUR CREDIT SCORE F
Page 37 and 38: DEBT REVIEW AND YOUR CREDIT SCORE W
Page 41: DEBT REVIEW AND YOUR CREDIT SCORE B
Page 44: LEARNING TO TRUST YOUR DC TRUST MUS
Page 48 and 49: LEARNING TO TRUST YOUR DC GETTING H
Page 51 and 52: LEARNING TO TRUST YOUR DC TRUSTING
Page 55 and 56: LEARNING TO TRUST YOUR DC IT’S HA
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Here are some things to keep in min
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LEARNING TO TRUST YOUR DC A MISLEAD
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LEARNING TO TRUST YOUR DC LEARN WHO
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LEARNING TO TRUST YOUR DC LEARN WHO
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FREE BOOKLET TO DOWNLOAD AND SHARE
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SOCIAL MEDIA AND FEELING FOMO THE D
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SOCIAL MEDIA AND FEELING FOMO HOW C
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SOCIAL MEDIA AND FEELING FOMO THE I
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SOCIAL MEDIA AND FEELING FOMO DON
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PAWN YOUR CAR AND DRIVE IT WHAT IS
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PAWN YOUR CAR AND DRIVE IT PAWN OR
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BREAKING NEWS
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DEBT COUNSELLOR FINED R10 000 FOR S
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FINCHOICE DEBIT ORDER CANCELLATIONS
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Debtfree Issue 202303 - DB SE

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