Confessions of a debt collector

Posted 19 July 2018

Seventy-seven-year-old former stockbroker and debt counsellor Fanie Grove has spent most of his life in financial services, but what he saw as a debt counsellor turned him against credit forever. His advice: avoid credit altogether, but if you must dip your toes in this sewer, be aware of the scams and tricks. 

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How to escape from a property suretyship

Posted 12 July 2018

Our law will generally hold you to the agreements you make, and a suretyship is no exception. You can only free yourself from it if it “was induced by fraud, duress, undue influence or mistake, whether induced by misrepresentation or otherwise”. Here's a recent case where the court found against Absa and in favour of the defendant who signed surety, as GhostDigest reports.

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Unsecured lending: SA sitting on another Steinhoff bubble

Posted 26 January 2018

With unsecured lending approaching R18bn, it is only a matter of time before another corporate implosion occurs, according to Glen Jordan of IMB Financial Services.

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Tony Webbstock on SAFM - how to get out of debt slavery

Posted 23 January 2017

In this SAFM interview, Tony Webbstock of Debt Admin explains how to get out of debt slavery. What prompted this interview was a controversial article on Acts Online which advised South Africans to simply stop paying unaffordable debt. Tony explained how this position is supported by the law.

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Free yourself from debt slavery - how to stop paying interest, bank charges and collection costs

Posted 08 January 2017

The holiday season is over, and the debt collection wolves are out in force. You may find yourself falling behind on your mortgage, overdraft or credit card payments. Then you will likely be issued with a summons. Don’t fear, says Armand Rinier. There are lawful ways of beating off the wolves. In this article he explains your legal rights when it comes to debt, and how you can stop paying interest, bank charges and collection costs. 

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