Representative example: Assumed borrowing of £7,500 over 36 months at a fixed rate of 3.0% per annum would result in a representative rate of 3.0% APR, monthly repayments of £218.11 and a total amount repayable of £7,851.96.
Representative example: Assumed borrowing of £7,500 over 36 months at a fixed rate of 3.1% per annum would result in a representative rate of 3.1% APR, monthly repayments of £218.30 and a total amount repayable of £7,858.80.
Debt counselling fees are prescribed by the NCR, and debt counsellors cannot receive more than these fees.
A debt counsellor is not allowed to receive your monthly payments, and distribute it to your creditors.
We are NCR REGISTERED DEBT COUNSELLORS SINCE 2007, when debt counselling first started in SA.
Our debt counsellors are well trained, have an excellent reputation, and are consumer activists..
Since very early times, there is reference to poor and over-indebted people, which has not changed over the centuries.
Nobody outside debt counselling ever needs to know you have applied for debt counselling everything is very confidential no salary deductions.
- BUT remember, debt does not make you a bad person in any way, just unfortunate.
We have clients under debt counselling, over the total spectrum of life from rich to poor - cleaners to doctors, advocates and people you would never suspect having financial difficulty. The that after only 20 days in default of your accounts, and creditors can start with legal action.
The difference however, was that creditors were much more lenient towards debtors during Biblical times.
In Exodus [God says] If you lend money to any of my people with you, who is poor, you shall not exact interest from him; If ever you take your neighbors garment in pledge, you shall restore it to him before the sun goes down..." o The Roman Law provided that a debtor, who failed to make good payments to his creditors, could be in parti secant (his flesh could be cut! o Sections 65A to 65M of the South African Magistrates' Courts Act provided for the imprisonment of judgment debtors in certain circumstances, until it was found in 1995 by the Constitutional Court to be inconsistent with the right to personal freedom provided for in section 11(1) in Chapter 3 of the Interim Constitution. o According to statistics recently released by the NCR, the number of consumers with impaired records in SA keep to rise.
Representative example: Assumed borrowing of £7,500 over 36 months at a fixed rate of 2.9% per annum would result in a representative rate of 2.9% APR, monthly repayments of £217.65 and a total amount repayable of £7,835.40.