As a responsible, registered debt management company, NDA urges consumers in Port Elizabeth and the rest of South Africa not to overspend this silly season, as it will only lead to bad financial troubles come January.
It’s essential to think twice before you swipe that credit card, especially now that the Reserve Bank has raised the prime lending rate to 9.75%. The decision to hike rates was based on the fear that the inflation rate may rupture the 3% – 6% percent target band.
The festive season is a time when many consumers go on a credit bender, splurging on things they cannot actually afford. Then when January hits, the hard truth sets in and they realise they cannot afford to repay their credit debt.
Demanding letter after letter, vexing call after call; the threat of creditors taking your hard-earned assets slowly becomes a nerve-wracking reality, as a court summons arrives on your doorstep. We at NDA don’t want you to have to go through all of this, nor do we want it to get to this point, as the longer you wait to enter debt management in Port Elizabeth with us, the less we can do to help.
Stacking up debt over the festive season is not wise at all. As soon as the New Year begins, you will have school fees, maxed out credit cards, and sky-high bills to pay. And, if you leave it too late to undergo this process, debt collectors will soon be knocking at your door to seize your property.
You may be paid early in the month, giving you a feeling of well-being that makes you feel like you have extra cash to burn. However, remember that the earlier you are paid, the further your money has to stretch, as it will be a long time until you get your next salary pay-out.
As it is, 2016 is going to be a tough year, so if you are already struggling with your monthly debt repayments, apply online for debt management with NDA now. We offer professional debt management to the whole of the country, including Port Elizabeth. Start your New Year debt free with NDA!