effects of debt

Learn about the many devastating effects of debt and how debt counselling can help you overcome these.

credit risk South Africa

Credit risk: Doing business in SA

In light of a series of factors ranging from local to international, the international trade credit insurance company, Coface, has changed South Africa’s business credit risk assessment form a B to a C- from fairly high to high. What this means for us is that South Africa is now seen as a higher risk for investors, a detrimental position to be in when considering the importance of international investments in our industries.

Continue reading

prescribed debt

Prescribed Debt: the forgotten amount

It pays to know your rights about prescribed debt


A set of circumstances that is fairly unknown to the general consumer, prescribed debt is an important port of debt collection that can often catch people unaware. Prescribed debt is, in short, old debt that has not been acknowledged or paid within three years. Often chased down by debt collectors, many credit users do not know they do not have to pay this debt unless they accept it.

Continue reading

The Urban Broke Are Still Trendy

Ever look at the friends around you and think “I WANT IT, NO… I NEED IT!!!” From the expensive designer clothes they wear, the trendy areas they live in, the high-end cars they drive, the after work drinks at roof top bars and the hotel dinners… all so that you can keep up appearances and let’s not forget those Instagram posts to show the rest of the world that you are out #LivingYourBestLife. Continue reading

Fairy Tale Funerals and Debt Haunted Lives

South African Funerals and Debt

Studies have shown that 85% of individuals’ debt troubles begin with the death of a family member. For many, losing a breadwinner means taking on their responsibilities, which could involve providing for one’s own family, as well as bereft dependents, such as elderly parents or the family of a deceased relative. Continue reading

Shopaholic Debt and The Battle of The Splurge

As with most psychological disorders, when a habit starts to put other areas of your life at risk, it is generally classified as a disorder and the same applies to bad shopping habits and a diagnosis of shopaholism, compulsive buying disorder (CBD), or oniomania.

Your job may be at risk because of constant online shopping, while your health and energy levels may be suffering due to engaging in excessive physical activity during your daily shopping marathons. Your personal relationships may be taking strain, as dishonesty, overspending and secretive hoarding may be creating conflict between you and your partner. Continue reading

Snippets of Debt Wisdom

As the eminent quote by Sun Tzu goes in his influential book, The Art of War,

 “If you know yourself but not the enemy, for every victory gained you will also suffer a defeat.”

And, I’m certain that any debtor in the world would agree that being in debt is a lot like being ensnared in a drawn-out war of daily battles against an inexorable enemy. Continue reading

The Side Effects of Debt

Inside the Debtor’s Mind

The counsellors at the South African Depression and Anxiety Group (SADAG) say that more and more South Africans are suffering from the adverse side effects of debt, which can lead to the development of severe depression, along with many other medical conditions, said to be brought about by the overwhelming pressure of being in debt. Continue reading