Debtfree Magazine April 2019 by Debtfree Magazine

SOUTH AFRICAâ&#x20AC;&#x2122;S DEBT COUNSELLING MAGA

KEEPING UP

WITH THE

JONESES April 2019 www.debtfreedigi.co.za

DEBICHECK: SIMPLIFIED DebiCheck is so simple it can be summed up in just a few steps. Let us show you what it is and how it works.

A TRUSTED PARTNER FOR NEARLY A DECADE

WHY TRUST US? / Flawless PDA system / Leading Debt Counsellor systems / Focus on Debt Counsellor profitability / Excellent Consumer support - query resolution within 24 hours / Compliance and governance is our cornerstone Call Chris van der Straaten Head of Hyphen PDA | 082 557 0437 Or call our friendly support centre on 011 303 0060 - Option 2 or visit our website www.hyphenpda.co.za

It is nice to have nice things. I recently upgraded my mobile contract again and look forward to extra memory, extra screen, bigger this and faster that. It is a pity that manufacturers don’t just put the best stuff in every new phone they make. Instead they make you decide how much to spend and you, as a non IT person, have to decide if the 317 chip is better of the 316(b) something?? or whatever is the one you want. Of course, we soon realize that what the manufacturers are doing is creating a variety of products with various parts (that they have lying around in the factory) so that they can move old stock at slightly lower prices. Otherwise they have to throw that stuff away. And so on our end we have to decide how fancy we want our phone to be within our budget. We don’t get to have the best they can make but rather we only get the best we can afford.

they have the best or in most cases simply the most expensive. Often, however, the most expensive is part of a false economy. Take my mobile phone for example. A little research quickly told me that last year’s “best” in the brand I was looking at is now basically rebranded to be the middle of the range this year - still with amazing stats and features. So, do I take this year’s middle range phone at this year’s hefty prices or do I take last year’s top phone at massively discounted prices? I think you know the answer.

This issue is crammed full of news and reviews. There are tips and advice, as always, and in this issue we look at other important matters too, from industry events (that you never attended) to court cases (that you never heard of before). Why? Because they impact on you and your debt review in one way or another. You are doing ‘a little research’ into one of the biggest parts of your financial life ever. That research will This is one of the reasons why so pay off as you get a realistic picture many people try to ‘keep up with of how things work and can make the Joneses’. They want to show that better decisions in the future.

So, we hope that you enjoy the issue and see how avoiding the urge to keep up with the Joneses is fundamental to successfully staying in debt review. How changing our mind set about what real value for money is and what we want from life (and even mobile phones) is important if we are to eventually become debt free.

FROM THE

E D I T O R

SURE

Credit ProteCtion – debt review Applied to go under debt review? Restructuring your monthly expenses? why not insure all your accounts on the one Credit Protection? benefits offered •

death – we settle the account

•

temporary disability – we pay your installment for 12 months

•

Permanent disability – we settle the account

•

Critical illness – we pay your installment for 3 months

•

retrenchment – we pay your installment for 12 months

At a rate of R2.95 per R1000 unsecured/short-term credit and R2.00 per R1000 on Mortgages, you can now insure your debt for less without compromising on the best benefits available. For further information please speak to your Broker alternatively contact your regional ONE office. 0861 266 562 admin.debt@one.za.com TERMS & cONDITIONS APPLY ONE Insurance Underwriting Managers (PTY) LTD Reg No. 1996/008987/07

Underwritten by:

A Member of

A member of the

Authorised Financial Services Provider FSP8783 VAT No. 4370160501

Group

KEEPING UP WITH THE JONESES

AFRICAN BANK DC WORKSHOP

2019 DEBT REVIEW AWARDS

NEWS

SERVICE DIRECTORY

DISCLAIMER Debtfree Magazine considers its sources reliable and verifies as much information as possible. However, reporting inaccuracies can occur, consequently readers using this information do so at their own risk. Debtfree Magazine makes content available with the understanding that the publisher is not rendering legal services or financial advice. Although persons and companies mentioned herein are believed to be reputable, neither Debtfree Magazine nor any of its employees, sales executives or contributors accept

any responsibility whatsoever for their activities. Debtfree Magazine contains material supplied to us by advertisers which does not necessarily reflect the views and opinions of the Debtfree Magazine team. No person, organization or party can copy or re-produce the content on this site and/or magazine or any part of this publication without a written consent from the editorsâ&#x20AC;&#x2122; panel and the author of the content, as applicable. Debtfree Magazine, authors and contributors reserve their rights with regards to copyright of their work.

C O N T E N T S

Don’t let debt be your legacy. Debt leaves a mark on all of us. And if we don’t manage it, it can pass from us to our children. But if you call us today we can help you. We have already helped 50 000 South Africans just like you. We can signiﬁcantly reduce the monthly payments on the money you owe, so you can pay off your debt and live your daily life stress free. What is your ﬁnancial freedom worth to you and your family?

Call 087 237 7874 today and together we can take control of your debt.

DebtBusters voted SA’s BEST National Debt Counsellor at the SA Debt Review Awards 2014, 2016, 2017 & 2018

DebtBusters employs NCR registered debt counsellors | www.debtbusters.co.za

DEBT REVIEW SCHOOL When you are in debt review credit bureaus list this to advise credit providers you canâ&#x20AC;&#x2122;t afford new credit yet.

KEEPING UP

WITH THE

JONESES

WHY YOU SHOULDN’T BE TRYING TO KEEP UP WITH THE JONESES “Keeping up with the Joneses” is an old saying about trying to match the social status of people around you. It is the idea that you need to at least have what your neighbors and friends have or they will look down on you. The saying comes from a comic strip which ran from 1913 before world war one until 1940 during world war two. The comic strip was called; you guessed it, Keeping up with the Joneses. When we measure our personal worth against the things and lifestyle of our neighbours and friends or even people on TV or social media it puts a lot of pressure on us to have more, do more, spend more. All to impress people we do not even know. This idea is one of the contributing factors to why most Americans who earn over R1.8 Million each year are barely getting from month to month due to all their debts.

Business photo created by pressfoto - www.freepik.com

KEEPING UP WITH THE JONESES

SOCIAL MEDIA IS MAKING IT WORSE One travel blogger (yes, that’s a real job) says ‘I feel that more and more people are depressed and sad because of social media’ and this is a guy who is always in amazing locations taking amazing photos for a living. Even he feels it. Social media feeds us a barrage of images of people all enjoying special moments and treats in the most wonderful places. Importantly it feeds us these images one after the other in our feed creating the impression that everyone is doing this all the time. It can make us wonder why we aren’t.

KEEPING UP WITH THE JONESES

On social media you will see all these Joneses have the latest massive TVs and Stay in giant houses, attending function after function while you sit around in your pajamas trying to stay warm through the coming winter chill. In the world today, a fancy car and a big house are the standards of success. But is that what itâ&#x20AC;&#x2122;s really about? Constantly comparing ourselves to others, their social status, their wealth, job or family, will simply bring you dissatisfaction and disappointment. So, in the face of so much social media and constant advertising how do we keep a level head? How can we measure our personal worth if not in comparison with others and what is the truth about keeping up with the Joneses?

KEEPING UP WITH THE JONESES

THE TRUTH ABOUT THE JONESES The first thing you need to realize about the Joneses is that the bank owns everything you see. They have a lot of nice things but it is all on credit. From the fancy big house to the car they drive and even that nice pair of shoes they are wearing on that yacht off the coast of wherever. Even that entire trip was paid for on credit. That means none of it is really theirs. They are selling their entire future for moments of fun right now and they blast it out on social media to tell everyone how wonderful it is because your jealousy adds to the sweetness of the moment. It is ego driven bad financial decision after decision. Every month they have to service all those credit cards that are right on the edge of being maxed out or the whole thing falls apart. If a real emergency comes along they are going to be strapped for cash and there is no way they are saving for a rainy day. It is a giant veneer, a front shown to the world. They will never show you their credit card statements rather they will post the price of their latest dinner and say how totally worth it it is.

R700.00

so worth it

KIM ARMFIELD

AND ASSOCIATES

KEEPING UP WITH THE JONESES

UNDERSTAND YOUR OWN MOTIVATIONS Ask yourself why you want to keep up with strangers on TV or social media? It is probably not as simple as they have nice things and I want them too. Consider why you want them. It could be because of frustration at work. Do you feel underappreciated and underpaid? When you see others doing well and having nice things does it hurt a little? Do you feel like you canâ&#x20AC;&#x2122;t make friends unless you spend money to attract them to yourself? Low self esteem can be a real challenge. Maybe, in your mind, bright shiny things make others see you as being valuable and make you a better person? Personal problems can beat us down. We get stressed by ourselves and others. We are all aware of how retail therapy works but it also comes with a hefty price tag. You may also come from a background where you did not have a lot as a family. Now you feel you should have everything you never had and you should have it all in one go.

KEEPING UP WITH THE JONESES

WHAT IS IT THAT THE JONESES HAVE THAT YOU REALLY WANT? Although you may assume it is just their money and how they spend it there might be some hidden things that you really want that they seem to have on the surface. Do they seem to have the best relationships or a perfect marriage? Are they always smiling and cuddling together? Does that make you feel insecure about your own relationship? Do they have seemingly perfect kids? Do they always do well at school and are on the fast track for future success? Do they have a great, stress free, amazing job? Even if you donâ&#x20AC;&#x2122;t know exactly what it is they do it seems fantastic and they always seem to be out and about while you are trapped in a dead end job going nowhere.

If you dig a bit below the surface of their lives however it is likely that what you see in a single photo every now and then is hardly reflective of their entire day to day life. No marriage is without conflict and challenges. No one has perfect kids. In fact, it is more likely that these parents are pushing their kids to live a lifestyle they will later revolt against. We see it with so many generations in the past. Each generation eventually turns around and rejects the values of their parents as being something they are not interested in. If their job seems better than yours, maybe it is. Or perhaps it is just that they seem to enjoy their work. Maybe you should be looking for a job you will enjoy more (while working hard at the one you already have so long). Maybe you need to put some extra effort into making the best of the job you already have so that you can enjoy it more. And if Mr. Jones is a rocket scientist or something you will never be, then maybe just focus on how cool it is to have a rocket scientist living next door. Appreciate his success and enjoy his stories and understand that you probably wouldnâ&#x20AC;&#x2122;t much like doing the same job anyway.

KEEPING UP WITH THE JONESES

STEPS WE CAN TAKE Now that we know how bad the Joneses situation is, letâ&#x20AC;&#x2122;s consider how you can take positive steps to avoid feeling the overwhelming urge to keep up with them. Do your spending and money habits line up with your personal values? Have you thought about what is really important to you? Do you really like yachts? If not, maybe you get sea sick, so why do you care if somebody else is on a yacht in the Caribbean? Make financial decisions based on what you really want in life, rather than what you think others think you should be doing. Make sure you budget for some fun. Even if it is only a small amount and it is something simple do not think that just because you are under financial stress or debt review that you cannot have fun. So many things that are great fun can be enjoyed for very little. Budget for it, that way, youâ&#x20AC;&#x2122;ll be able to have fun without feeling guilty or stressed about it. If you feel pressured by friends, next door neighbors, or even people in your extended family to live outside of your means, then it might be time to cut down on how much time you spend with them. Rather than surround yourself with people who make you feel inadequate spend time with people who lift you up and like you for who you are and not what you have.

KEEPING UP WITH THE JONESES

MOTIVATION OR ENVY? Seeing how others are doing and identifying exactly what it is they have that you want can be a good motivator to adjust your current situation to match your real values in life. On the other hand if you are just plain envious, jealous and secretly hate them a little then your constantly thinking about them and what they have is just weighing you down. Stop focusing on it or you will only fill your thoughts with negative emotions and end up very unhappy.

KEEPING UP WITH THE JONESES

REMEMBER YOUR OWN DREAMS Business photo created by pressfoto - www.freepik.com

Think about what is important to you and not what is important to other people. If suddently everybody was raving about owning a skunk and what a fabulous pet it makes, if your own goals are not clear in your mind, then you may end up with a very smelly house. Regularly focus on your own goals and how you are working towards them. Let people have their own goals and be happy for them when they make progress towards them but don’t start chasing other people’s dreams or you will end up sorely disappointed later in life. Keeping up with the Joneses may actually have dragged you further away from achieving your original dreams. You may, in fact, have stopped chasing your own dreams altogether. It may be time for you to seriously think about what is important to you and how you can achieve your goals. If family is important to you then you don’t need to be on a yacht in the Caribbean to enjoy time with them. If your kids are the most important then working long hours and never seeing them may not be the best way to give them a good future. If you love fancy food then maybe you should head to your own kitchen rather than expensive restaurants. Money and status are no substitute for the real joys in life.

KEEPING UP WITH THE JONESES

BE AWARE OF THE DANGERS OF SOCIAL MEDIA Someone recently said that previous generation’s version of Keeping up with the Joneses was all about having material things. But that nowadays it has ‘moved on to something that seems even more disturbing. We gain our self worth on social media and who can post the most interesting photograph and get the most amount of likes and comments.’ They ask: ‘Why are so many people happy if a bunch of strangers liked their photograph rather than having a few of their close friends and family taking the time to truly be happy for them?’ If you find social media is subtly making you feel unsatisfied with your current lifestyle then unfollow the people on social media who make you feel bad rather than inspired.

It is also good to think about how the things you see on social media are possible for you but the very first step is to get out of debt and not into more debt. Let it show you what can be done once you finish paying off your debt and start building wealth. Donâ&#x20AC;&#x2122;t let it make you focus on what you do not have right now. In many cases you can have the essence of what the Joneses are having namely, good times with family and friends, nice meals and you can probably do it at a much lower price (even free) if you plan well.

KEEPING UP WITH THE JONESES

SHIFTING FOCUS When it comes to keeping up with other people, keep in mind that you are really the only one keeping score. If youâ&#x20AC;&#x2122;re really set on impressing people in your neighborhood, why not do it with kindness or generosity? Be there for people, lend them a helping hand, be a listening ear and offer advice when you can. Let people know they can come to you for support. Offer your experience and wisdom to people around you and the Joneses will end up being impressed rather than being amused by someone trying to copy them.

KEEPING UP WITH THE JONESES

YOU CANâ&#x20AC;&#x2122;T KEEP UP WITH THE JONESES Trying to keep up with the Joneses is a losing battle anyway. Every time you think you are close, someone else will set the bar even higher. As soon as you buy the latest gadget or device, the manufacturer just releases a newer, cooler one. Once you renovate your house to match current trends the trends go and change and your place becomes outdated again. It is just so much better to make financial decisions based on what you really want and can realistically afford and not on what you think you have to do to keep up with the Joneses.

Before you try to keep up with the Joneses, be sure theyâ&#x20AC;&#x2122;re not trying to keep up with you - Erma Bombeck

KEEPING UP WITH THE JONESES

THE DEBT FREE GOAL If your goal really is total debt freedom, then making a few short term sacrifices will be worth it. But you have to realize that when you enter debt review it makes you act different to the people around you who are always spending money on stuff that is not that important. Well known money guy Dave Ramsey says, “No one accidentally wins at anything. You have to pay a price to win, and you don’t win if you don’t pay a price.” This is true. If your goal is getting out of debt then you actually don’t want to keep up with the Joneses who are neck deep in debt. In fact, you want to live entirely differently from them. You want to avoid the mistakes they are making and shift your focus off them and what they have onto yourself and what you really want. Once you figure out what is really important to you (like financial freedom or building wealth for your kids) then you will be happy to work hard towards that goal.

KEEPING UP WITH THE JONESES

As a benefit, when you’re not so focused on keeping up with the Joneses, you’ll be surprised to find that you will stop caring what other people think about your bank balance and you may even identify a few people in your life who are keeping you in debt. If you are able to shift focus onto what you already have and where you are going, once you cut envy and jealousy from your life you will be much happier. Each time you make that monthly debt review payment it will bring you a feeling of joy as you take another step closer to your goal. Every time you avoid spending money on things you don’t need you will feel a surge of satisfaction that you are staying focused. And when you look over at the Joneses next door you will shake your head in pity for them not envy.

We appear in the following courts and act as a correspondent for Dc’s and their attorneys. ATLANTIS BELLVILLE GOODWOOD CALEDON CAPE TOWN WYNBERG CERES GRABOUW

HOPEFILED KHAYELITSHA KUILSRIVER MALEMSBURY MITCHELLS PLAIN MOORREESBURG PAARL PIKETBERG

ROBERTSON SIMON’S TOWN SOMERSET WEST STELLENBOSCH STRAND TULBAGH WELLINGTON WORCESTER

Please contact adri@kempdebruyn.co.za to enquire about our fees.   

+27 (21) 200 5644 adri@kempdubruyn.co.za 21 Station Street, Paarl, 7646

What if...

YOUR CLIENT’S VEHICLE IS STOLEN OR WRITTEN OFF?

Is he really insured, and if so, properly? Could the insurer repudiate the claim because of his debt review status? As he cannot borrow, how does he replace his vehicle? Since he can’t get more credit, how does he replace his vehicle?

Meliorleaf is the first and only specialist in insuring the assets of people in debt review. We genuinely protect your clients… in partnership with you.

CALL US NOW 011 141 2799 | www.meliorleaf.co.za

MA XIMISING INSUR ANCE RELATED INCOME

PARTNERSHIPS How Meliorleaf partnerships with Debt Counsellors work. We keep you advised regarding your clients to ensure they are covered properly and remain covered. We remunerate you, ongoing, for what you choose to do: Some debt counsellors want to be actively involved in arranging and managing insurance relationships, and we fairly share commissions earned Some debt counsellors are also registered Financial Services Providers. They can advise clients and provide a full broking service, and are entitled to earn the full commission But, Meliorleaf understands that some debt counsellors cannot or do not want to be actively involved. However, they do want their clients to be properly insured: For these debt counsellors, Meliorleaf can provide a fully outsourced turnkey solution. What’s more, we will still provide you with ongoing remuneration on all active policies.

Are you interested in partnering with Meliorleaf? Call Sean or Elmarie today on 011 141 2799 CALL US NOW 011 141 2799 | www.meliorleaf.co.za

NEWS REPO R ATE UNCHANGED AT 6.75% The Reserve Bank Governor Lesetja Kganyago recently announced that there would be no change to the current 6.75% Repo rate. The decision is based on a few factors such as inflation (for food & electricity etc) staying stable at 4.4%; a slightly lower than expected GDP projection and an increase in the price of Brent crude (oil). They also expect to see the world economy slow down and see more problems ahead with things like loadshedding and a decline in business confidence.There is however a projected 25 base point increase pending by the end of the year meaning that the Repo Rate will then potentially be at 7% by December 2019.

MOODY’S DON’T THINK SA IS JUNK JUST YET Rating Agency Moody’s has once again pushed back making a call on South Africa’s credit rating (which currently sits just above “junk” status at BAA3). The agency was expected to release a reviewed rating this month but have decided to hold off till later in the year. This will allow certain local events to take place, such as the coming elections in May 2019, before they make a call. It will also give them time to see what happens with Eskom and the local GDP and inflation. They have indicated that, at present, the country’s situation

is much like that of many other BAA3 rated countries during a global recession. This is why their last rating came with a â&#x20AC;&#x153;stable outlookâ&#x20AC;? which means they expected little to change for the better or worse in the months ahead.

DEBT REVIEW AWARDS The Annual Debt Review Awards industry wide peer review is underway. Check your inboxes for an invite to participate. The peer reviews are done online and most of

the Peer Reviews are only 10 questions long and are fairly quick to complete. Results from across the industry and input from all participants are added together (automatically by the online software) on a percentage bases and reveal the results. The process and results are then audited by an external company (BKF) and once the auditors give the go ahead can be released. The results will be announced this year on the 20th of July 2019at the modest red carpet Gala evening in Mountedgecombe in Durban, KZN. Worried the organisers may not have your current email address? Then email: iwanttobepartoftheAwards@ debtfreedigi.co.za

VW ORDERED TO PAY BACK MILLIONS The National Credit Regulator (NCR) recently took Volkswagen Financial Services South Africa to the National Consumer Tribunal (NCT) over fees which most dealers charge customers when they buy a new car. These are commonly called ‘on the road fees’. These fees can add up to several thousand rand and cover a range of minor items not automatically included in the sale but later added to the account. These can be for several small items, from getting new licence plates to having the car cleaned and filled up at a local petrol station. The main issue is whether these fees get included and how interest is calculated on the

customer’s account (if these fees show up there) and if they are allowed for in the National Credit Act and Regulations. Right off the bat, it is clear that the NCA does not mention such fees. Thus the NCT found that Volkswagen Financial Services South Africa should not be charging for them. However recently other credit providers have had rulings from the NCT that have indicated that they were able to charge for fees not mentioned in the NCA specifically. More than just order Volkswagen Financial Services South Africa to stop charging such fees in the future the tribunal has now ordered that VW figure out who they have

REPORTS DUE IN MAY 2019 charged these fees over the many years and after providing the NCR with a report should take steps to pay back all the affected consumers. Ms Nomsa Motshegare, CEO of the NCR says: â&#x20AC;&#x153;The NCR welcomes this judgment as it affirms the protection given to consumers by the National Credit Act against illegal charges and fees on credit agreementsâ&#x20AC;?. It remains to be seen if Volkswagen Financial Services South Africa now decide to try to appeal the matter in a higher court or will go about paying back the funds.

In terms of Regulation 69(2) of the National Credit Regulations, a Debt Counsellor must submit a statistical return to the National Credit Regulator. The statistical return (Form 42 attached) must be submitted to the NCR in respect of the quarters and by the due dates set out in the table on the next page.

South Africaâ&#x20AC;&#x2122;s

leading Debt Counsellors since 2007

Start getting out of debt today! www.creditmatters.co.za Call our national call centre on

086 111 6197

REPORTS DUE IN MAY 2019 QUARTER

REPORTING PERIOD

DUE DATE

1st Quarter

1 January – 31 March

15 May

2nd Quarter

1 April – 30 June

15 August

3rd Quarter

1 July – 30 September

15 November

4th Quarter

1 October – 31 December

15 February

We hereby request that you submit the statistical return by the due dates as specified above. Failure to do so may result in the National Credit Regulator taking appropriate enforcement action in terms of the Act. The completed forms should be sent to dcreturns@ncr.org.za For further information or clarification, please do not hesitate to contact: Nkosana Ngcobo on 011 554 2744 or email: nngcobokamsiza@ncr.org.za

KZN 20 JULY 2019 WWW.DEBTREVIEWAWARDS.CO.ZA

Each year all NCR registered Debt Counsellors and Credit providers are afforded the chance to participate in an industry-wide peer review that culminates in the Annual Debt Review Awards Gala. These Awards recognizes excellence in the field of debt review and are handed out at a modest red carpet gala event

THURSDAY One of the new arrangements this year is an â&#x20AC;&#x153;open dayâ&#x20AC;? for registrants in the area. Local DCs and CPs will be able to go and visit one another on the Thursday preceding the gala and get to know one another better. If you are a local DC or CP (or will be visiting at the time) then you can speak to the organizers about going to visit the local firms or hosting guests: DebtReviewAwardsopenday@debtfreedigi.co.za

FRIDAY Several sponsors including the various PDAs, banks and others will be hosting a series of short workshops on Friday, 19 July. Friday can be tricky and there is the usual travel time needed so these workshops will be short and sweet and guests will be able to attend several in a short time period. The workshops will start mid morning and end before rush hour. This will allow guests to interact with senior staff members from the various sponsors, and discuss key industry issues and challenges. If you would like to attend please email: DebtReviewAwardsWorkshop@debtfreedigi.co.za

Visitors will be able to get together for an informal dinner at a local restaurant if they wish. This presents another opportunity to chat and get to know one another better in a relaxed social environment. SATURDAY This year the main event, the red carpet Gala will be held on Saturday evening 20th July in Mount Edgecombe, KZN. The venue is not very far from the large international airport and over 150 guests from across the country will attend. 50 different Debt Counsellors and many credit providers will be recognized on the night as guests are able to mingle, nibble and hear presentations. SUNDAY After the event and before everyone heads off home, there will be another chance for guests to enjoy a quick bite to eat on Sunday morning at a local eatery. One last chance to congratulate the winners and swop business cards. If you would like to know more about the event, or attend any of the workshops, open day or the gala event feel free to email: DebtReviewAwards2019@debtfreedigi.co.za

DEBT REVIEW SCHOOL Starting debt review can be a great time to change your habits and get fit financially and physically.

PROFESSIONAL DEBT COUNSELLING ATTORNEYS TEL: 021 872 1968 1 1 M A R K E T S T R E E T, PA A R L w w w. s t e y n c o e t z e e . c o . z a

Die Republiek van

SKYT AFRICA Hi Almal, Ek het al baie in die verlede gesĂŞ hierdie is nie n politieke rubriek nie maar om die komende verkiesing ongesiens of sonder enige kommentaar te laat verby gaan sal soortgelyk wees aan n volstruis wat sy kop in die sand druk. Eerstens om n sĂŞ in die politieke toekoms van die land te hĂŞ moes jy geregistreer het, indien nie moet jy maar verlief neem met wat gebeur en nie na die tyd steen en been kla nie. Gebruiklik is daar voor n verkiesing heelwat protesaksies maar dit blyk hierdie jaar erger as voorheen, dit is te betwyfel of dit slegs ontevredenheid oor gebrekkige dienslewering is en daar is beslis politieke ondertone wat hierdie aksies aandryf. Indien jy wel geregistreer het is daar n rekordgetal 48 politieke partye wat om jou stem of kruisie meeding. Almal belowe die son, maan en sterre. Sommige party se verkiesingsmanifeste sou lagwekkend gewees het maar

gegewe die valse beloftes wat dit inhou vir die oningeligtes is dit hartseer dat kiesers aan hul neuse rondgelei word. Beloftes van alles wat gratis gaan wees soos eiendom, opvoeding, krag, water noem maar op jy gaan vir niks hoef te betaal nie. Elke sent wat die staat verdien is deur belastingheffings en n eenvoudige vraag is waar gaan die geld vandaan kom om aan hierdie beloftes uitvoering te gee? Die staat se uitgawes oorskry reeds sy inkomste en addisionele uitgawes gaan die situasie/tekort net vererger. Waar jy die 8ste Mei jou kruisie gaan trek is jou persoonlike saak en daar is nog baie onsekerheid by kiesers met watter party hulle die pad wil saam stap vir die volgende vyf jaar. Dit blyk dat op plaaslike regering vlak koalisies bepalend sal wees of ons nou daarvan hou of nie. Net soos die “beloftes” wat die politieke partye voorhou is daar ook besighede wat soortgelyk die son, maan en sterre belowe wanneer dit kom by die hantering van persoonlike skuld. Beloftes van n kitsoplossing wat eensklaps al jou finansiële probleme soos mis voor die son gaan laat verdwyn. Net soos jy omsigtig jou kruisie moet trek tydens die verkiesing doen eers huiswerk en navorsing alvorens jy jou lot by sulke besighede plaas. Vorm n koalisie met n goeie, betroubare skuldberader saam met wie jy n pad kan stap om finansiële gemoedsrus te kry. Moenie mislei word deur te glo alles in die toekoms is gratis nie. Groete, Christo Christo Hattingh Kyk gerus my LinkedIn profile: https://www.linkedin.com/in/christo-hattingh-351a52130/ * Seriously please do let us know if you found this article to be funny/offensive/amusing/interesting feedback@debtfreedigi.co.za

www.collectnetpda.co.za

Flooding dodgy banks and large corporations with questions and complaints. Writing letters to the press and politicians. Boycots and non-compliance. These are the tools of the modern activist. With no violence, this kind of silent activism brings about change. Join us & Our Partners now, it’s fully confidential.

Debt Counsellors Collective Now that iDCC is a member of CIF we encourage all registered DC’s who are not affiliated with an association to join so that DC’s get the opportunity to influence decisions taken by the NCR.

Members please have your say on the latest poll regarding credit bureaus on the member’s Facebook Page.

www.allprodc.org

We are looking for a member to take the role of Association Secretary. Are you interested? Email: BDCF@offsite.co.za www.bdcf.co.za

Upcoming Regional Meeting Dates: Eastern Cape - 17 May 2019

NDCA are ready to help

Free State - 10 May 2019

consumers who are

Gauteng - 14 May 2019

struggling with debt.

KZN - 17 May 2019 Western Cape - 21 May 2019

www.dcasa.co.za

Visit our site for more information

WE’RE HIRING! OPPORTUNITIES EXIST

Nationally

FINANCIAL WELLBEING OFFICER Help South Africans become Debt Free Do you want to be part of the solution? Do you enjoy interacting with people? Are you an energetic self-starter? If you believe you have what it takes and have a Grade 12 certificate with 2 year’s work experience Send your CV to jocelynl@octogen.co.za Or visit us at https://www.careerjunction.co.za/companies/33313/octogen and https://www.indeed.com/cmp/Octogen-(pty)-Ltd

SONNENBERG V WESBANK TOPIC: REPOSSESSED CAR & RECKLESS CREDIT

In October 2017, Wesbank obtained a default judgment against Ms Sonnenberg and were thus able to repossess her vehicle. At the time, Ms Sonnenberg was behind on payments and an employee took receipt of the summons when it was served but Ms Sonnenberg was not aware of this until the repossession.

After making a temporary catch up repayment plan Ms Sonnenberg applied for relief via Kimberly High Court in Feb 2018. One issued raised was that Ms Sonnenberg said she had made a verbal payment plan with the collections attorney but the attorneys denied this. This is a good reminder to get all such arrangements on paper and not just via the phone. Ms Sonnenberg raised the defense that Wesbank had originally recklessly granted her credit when she could not really afford it. The court papers show the calculations as to what she had available at the time and the calculations showed nothing for food, clothing, transport in the affordability assessment. Apparently Wesbank never checked whether these funds were available from her husbandâ&#x20AC;&#x2122;s income or not. Wesbankâ&#x20AC;&#x2122;s defense was that since the couple was married out of community of property they did not have to check. The ruling was given upholding the requirements of the National Credit Act that a clientâ&#x20AC;&#x2122;s entire situation and all financial means, prospects and obligations need to be considered when getting credit. The court therefore rescinded the granted judgment but did not rule on the reckless credit finding rather leaving that to a trial court.

KIM ARMFIELD

AND ASSOCIATES

When debt review clients don’t pay they put your entire practice at risk! We make sure you get paid for the work you’ve already done! Tel: 021 949 1758 | 084 702 3760 info@legalwc.co.za | w w w.capeat torney.co.za

DEBT REVIEW SCHOOL If you are in debt review it means you are not yet financially sound enough to get more credit... Not yet.

Following on from a sucessful event in Gauteng, Carina Best (Head of Alternative Collections at African Bank) and her team hosted their second well supported workshop with Cape Town Debt Counsellors this month Representatives from small and large debt review companies were in attendance, there were a few new faces, as well as the more familiar ones. The mixed audience added to the relaxed mood and good interation between the African Bank Team and attendees. Carina Best introduced the day and her team to the audience who have often dealt with the various team members over the phone or via email while assisting consumers with debt review matters. Many of the African Bank team were on hand at the venue in Newlands Cape Town to interact with Debt Counsellors and attorneys and to help answer their many questions. It was enjoyable for those attending to learn a bit more about the people they correspond with so regularly from details about their education, work history and family status to what they like to do in their private time. There were videos to watch both from the African Bank CEO as well as about the â&#x20AC;&#x153;my worldâ&#x20AC;? account, which will soon be available to those under debt review as African Bank move into the transactional account side of banking in the near future (as opposed to more loans oriented banking). The team then spoke about various functions and new procedures and received suggestions from the audience on ways

to streamline and improve their processes. The tone was light and friendly, with many jokes and laughs shared and pieces of paper thrown at poor Paul. That is not to say that some hard questions (such as replacement insurance and legacy matters) were not fielded from the audience. In many ways African Bank lead the way among credit providers in dealing with Section 103(5) In Duplum matters and this was well received by attending Debt Counsellors who asked if African Bank could please explain this to other credit providers. African Bank also enjoy a sterling reputation in avoiding uneccessary legal action which was another topic of praise from the audience. There were both short breaks and a delicious meal which allowed all attending to chat about the presentations and some of the topics raised in a relaxed setting. The day was a great success and the local Debt Counsellors expressed their gratitude to the team and bank for going to the expense of travelling to engage with them.

STUCK

U S I N G

ANCIENT

T E C H N O L O GY ?

Contact Maximus on 011 451 0041 | www.dcmax.co.za

donâ&#x20AC;&#x2122;t be a twit

http://twitter.com/Debtfree_DIGI

All professionals have professional indemnity if the unforeseen happens. Do you as a professional Debt Counselor have professional indemnity as stipulated by the ethical code?

086 111 2882

TELEPHONE 0861 112 882 FACSIMILE 086 605 9751 MOBILE 082 449 6856 EMAIL andre@in2insurance.co.za

www.in2insurance.co.za

SERVICE D

CLICK THE C

DEBT COUNSELLORS

SUPPORT SERVICES

TRAINING

FINANCIAL

INSURANCE