Fighting Financial Over-Indebtedness in South Africa
‘picked up this article from Kulula.com’s inflight magazine, comic life.
In the article kulula.comic (as the magazine is called) tries to list what kulula.com have done or have been doing to support the NCA initiatives and / or protect the consumer.
Click here to continue reading ‘Kulula.com takes a stab at explaining the NCA to its “fans”’
Most of us do not take the time to compare rates we are being offered by various credit grantors when applying for all sorts of credit, which is actually reckless of us.
When applying for credit what you should do is approach more than one (preferably 3) credit grantors and compare the various offerings to see which one ultimately costs you less in terms of repayments and total repayment. Yes it is time consuming but when you do the maths, you will realise it was worth it at the end.
Now go ahead and ask for a quotation… Actually you should DEMAND a quotation (since you should be given a quotation in a prescribed form (-¹nogal), setting out the principal debt, the proposed distribution of that amount, the interest rate and other credit costs, the total cost of the proposed agreement !)
See section 92 of the National Credit Act which is further detailed on the National Credit Regulations’ section 28. That’s if you are courageous enough and maybe you can help us decipher this wonderful piece of legislature!
Click here to continue reading ‘Shopping around for better interest rates, if you have the time and want a better deal that is’
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