Debtfree Magazine issue 12 of 2022

YOU & FUTURE YOU

CREDIT PROTECTION

CREDIT PROTECTION

Have you applied to go under debt review? Are you restructuring your monthly expenses? Would you like to insure your debt?

Why not insure all your outstanding accounts in a single ONE Credit Protection Policy?

Have you applied to go under debt review? Are you restructuring your monthly expenses? Would you like to insure your debt?

BENEFITS OFFERED:

• Death – we settle the account

Why not insure all your outstanding accounts in a single ONE Credit Protection Policy?

• Temporary Disability – we pay your installment for 12 months

• Permanent Disability – we settle the account

BENEFITS OFFERED:

• Critical Illness – we pay your installments for 3 months

• Death – we settle the account

• Retrenchment – we pay your installments for 12 months

• Temporary Disability – we pay your installment for 12 months

• Permanent Disability – we settle the account

At a rate of R2.95 per R1000 unsecured/short-term credit and R2.00 per R1000 on mortgages and you can now insure your debt for less.

• Critical Illness – we pay your installments for 3 months

• Retrenchment – we pay your installments for 12 months

The following financial obligations or debt can be covered on the ONE Credit Protection Policy:

• Overdrafts

At a rate of R2.95 per R1000 unsecured/short-term credit and R2.00 per R1000 on mortgages and you can now insure your debt for less.

The following financial obligations or debt can be covered on the ONE Credit Protection Policy:

• Credit Cards

• Overdrafts

• Rental Agreement

• Maintenance Orders For further information please speak to your Broker, Debt Counsellor or alternatively contact your regional ONE office.

FROM THE EDITOR

This year we did see some pretty BIG things happen. We all started the year thinking 2022 was Covid Season 3 also known as Covid lite. And in many ways it was (except if you were in China). By mostly giving up on tracking stats around the world and by people not all reporting their illness the stats have dropped significantly (combined with vaccines etc of course). That’s not to say that that sadly many people have not been affected this year. If the pandemic hit you, we extend our sympathies.

Worldwide things have been in a state of crisis all year long. There is now a new term being used: ‘permacrisis’. This is a state of ongoing instability that causes chaos and stress. It is relentless, crisis after crisis.

Boy, have we seen it this year. The UK got a big shake up with a new royal taking over (we know all about that sort of thing here in SA) and of course the big one has been the War in Ukraine. Russia’s blitzkrieg failed and they are now stuck in a Vietnam style jam with the world making life difficult for them (most ports won’t even let

Wow…what a year. I guess we should not be surprised by how crazy things can get.

FROM THE EDITOR

Russian ships dock these days. Most). In America the Ex-president, who is still trying to avoid jail from when he lost the elections, announced he will be running again. People went mad. But all of that was slightly overshadowed by 1 rich guy buying a social media platform and changing things to how he thinks they should run. He sure ticked a lot of people off.

The planet shared its displeasure at all our climate antics by producing some massive storms, floods, fires and even volcanic eruptions. All just to remind us that actions have consequences (even if it takes time). People across the globe are trying to cope with these events and it is quite scary to see the scale these natural disasters are now at. Even Greta Thunberg seems to have given up on shouting at old people and is now taking people to court.

Locally, the Rand has taken a rollercoaster ride vs the Dollar and the price of oil (influenced by the war in Ukraine & Sanctions) has made things tricky. And that’s before we even get to chat about Eskom’s level 299 loadshedding and all the local political scandals and manoeuvring going on.

Even if you are more interested in cryptocurrency than the Rand, you will know that global markets are reeling after the FTX collapse. People put “real” money into online money and…poof, it disappeared. Now a lot of people are poorer than before and lot more angry (the banks are mostly happy about it though). The

lynch mob is forming looking for someone other than themselves to blame.

So, between all that chaos and ongoing craziness it has probably been hard to think about what lies ahead. Hard for you to plan for the future when everything feels so fragile. Well, it is even more complicated than that. In this issue we delve into the brain science behind you vs future you and why it is hard to care about that person. Check it out.

Parents should also check out our article about school fees since everything is going up these days except your pay check. You may find some info that can help ease your pressure. We also talk about ways to deal with this ramped up loadshedding which always seems to hit at dinner time and how to deal with all this bad news going on around us. How can we avoid a “permacrisis” overload? It might be simpler than you think.

So, yes. It has been a crazy year, but you made it. And yes, next year will be just as crazy in all likelihood. Still, take a moment to acknowledge how far you have come, how you kept paying even as prices went up. By adapting and adjusting you have got this far. Well done! And we know that if you keep it up, no matter what the world throws at you, you will soon be debt free.

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CONTENTS

YOU & FUTURE YOU

SOME REALLY COOL MEALS FOOD FOR THOUGHT SERVICE

SCHOOL FEE EXEMPTION

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

DIRECTORY

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 editors’ panel and the author of the content, as applicable. Debtfree Magazine, authors and contributors reserve their rights with regards to copyright of their work.

DISCLAIMER

& FUTURE YOU

THE PATIENCE TEST YOU & FUTURE YOU

Do you want R500 right now or R1000 in a month’s time?

It might seem weird because, in theory, we should all be able to wait for 30 days to get twice as much money… but… many of us would prefer the cash right now.

We prefer instant gratification.

Why?

& FUTURE YOU

YOUR FUTURE SELF VS PRESENT BIAS YOU

You may think of yourself now and in the future as the same person… but below the surface your brain might not totally agree.

Researchers tell us, that we have what is commonly called a “present bias”.

That means that we think now is more important than later, and yes, that we prefer our current self to our future self.

Why is that?

In many ways, our brain thinks about our future self as a totally different person and guess what… it doesn’t care about that person as much. It defaults to looking after the person right here and now.

YOU & FUTURE YOU

NOW VS LATER

This is often the reason why we will choose to take money now, rather than waiting. And why we are happy to use credit to get stuff we can use now, and let your future yourself worry about paying it off.

Your future self probably wants to have killer abs… but to get them, your present self has to sweat, Urgh… who wants to do that!

Your future self probably wants to retire and have enough funds to afford food… but to do that, your present self has to save the money you could be having fun with, what a pain!

& FUTURE YOU

LEARN TO CARE ABOUT FUTURE YOU YOU

While reading this, you may already feel disinterested in worrying about future you. After all, present you could be doing many other things, rather than thinking about the future. See, it is a problem, and it impacts your current choices.

This is why we must train our brains to think more about our future selves, and to care.

We need to develop a little empathy for our future selves.

BE NICE TO YOURSELF YOU & FUTURE YOU

One way to connect with future you, is to think about past you.

Consider how your past decisions have influenced your current reality.

Did you make smart choices that improved your life? Or did you make bad choices that still hurt? If you could go back, would you change the decisions you made? It is good to train our brains to think about cause and effect.

Next, try picture yourself in years to come.

When you next look in the mirror, try to picture what your future-self will physically look like. What will your hair look like, your skin, your physique?

The more often you can think about future you (maybe even just ‘tomorrow you’) the more you can train your brain to start to prioritise them.

GIVE YOURSELF A BREAK YOU & FUTURE YOU

One thing that you can do for future you, is to get rid of your debt.

Get rid of all that stress and pressure to pay your creditors. Paying your debts off now, (even if that is just not missing a payment this month) will help you in the future.

You can also avoid adding more debt to an already large pile of debt. Don’t do it!

Try give yourself less debt, not more.

That way, future you will look back and say: “thank you”

Leaving Debt Review Is Not As Simple As To Simply Stop Paying.

Consumers can only leave the debt review process at certain times and in certain ways.

This free e book will help you navigate this process and avoid many of the common mistakes people make when wanting to leave debt review.

If you are curious about how you can leave debt review properly and with no risk to your assets then be sure to download and read this free booklet

SOME REALLY COOL MEALS

SOME REALLY COOL MEALS

HELLO DARKNESS MY OLD FRIEND

Why does it feel like it is always load-shedding at the exact time you would usually cook for your family?

It is not like you can use Uber eats or Bolt every day to bring you dinner (you will quickly go bankrupt). And you can’t be making peanut butter sandwiches every night or the kids are going to start complaining (eventually).

SOME REALLY COOL MEALS

HOT OR NOT

With loadshedding here to stay for the foreseeable future and at higher levels than ever it is time to think about ways to minimize it’s impact on your dinner time.

For some this means getting a braai going for others it may mean a chance to enjoy some fresh salads. Either way we need some tasty solutions. We have put together a few no-cook dinner ideas to take the stress out of load-shedding.

We have also included a few recipe ideas, if you are able to cook some of the ingredient while there is power, as well as some side dishes to add to your braai meat, if you are so inclined.

NOU GAAN ONS BRAAI SOME REALLY COOL MEALS

It might require some blitz, wood and matches and take a little longer to prepare but making a braai is a South African classic.

Throw your favourite meat on the braai and add a few extras (most of which do not require electricity anyway).

Add: Potato salad Coleslaw

Make use of some tin foil to make: Roasted veg, Mielies.

And treat yourself to a little fire toasted cheese sandwich along the way.

SOME REALLY COOL MEALS

TRY SOME DESSERTS

Want something a bit more sophisticated than half a slab of chocolate for desert (ok, we know its hard to eat only half the slab, who are we kidding?).

Why not try some of these ideas: Fruit & Yogurt parfaits Acai bowls

Chopped fruit & box custard Eaton-Mess

Google, Pinterest & Insta are your friends. Try search for a few ideas to make your life easier and spice things up. With a little advanced thought and preparation, you can easily make use of these loadshedding days to bring out your inner master chef.

DEBT REVIEW

A

FOOD FOR THOUGHT

FOOD FOR THOUGHT

BRAIN FOOD

They say: "You are what you eat..."

The idea being, that what you put into your body influences your wellbeing. What about what you are putting into your mind?

Advertisers will pay large amounts of money just to put their stuff in front of you, for even a few seconds.

And if they are prepared to spend a lot of money to do that, then it makes you realise how powerful even a few seconds can be. Advertisers want to just plant that seed, knowing it will be worth it down the line.

So, do you ever think about what you are mentally consuming?

What are you feeding your brain?

FOR THOUGHT

GARBAGE IN GARBAGE OUT FOOD

Social media feeds us dreams of fancy lifestyles that we can’t realistically afford.

Shopping catalogues and websites show us lots of nice things that we did not even know we wanted (yet).

Negative information can make us start to think negatively.

There is a lot of mental "Junk Food" out there.

So, think about what you are feeding your brain, and consider if you can be a bit more purposeful or selective in feeding your brain decent content.

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SCHOOL FEE EXEMPTION

SCHOOL FEE EXEMPTION

HOW DOES IT WORK

You want to ensure your kids can have consistency and be with people they are familiar with rather than have to move them. But what if the fees are just too high?

Let’s talk about school fee exemptions and how they work.

Education in SA is not free and for many it is not cheap but every child has a right (as per the Constitution) to schooling.

Parents have a right to apply to any public school to see if they can receive a partial or even total reduction in school fees (and the school cannot then kick your kid out or withhold exam results or anything).

If you are living on less it can be hard to cover one of the most important costs you have: School fees.

SCHOOL FEE EXEMPTION

NO FEES

Some schools, located in specific communities, are designated by the Minister of Education as free (no Fees).

The following also automatically qualify for free education at public schools in SA:

• An orphan in an orphanage;

• A learner who has a foster parent;

• A learner placed in a youth care centre or a place of safety;

• A learner who has been placed in the care of a family member;

• A child who heads a household or is part of a child-headed household;

• Parents who receive a social grant on behalf of the same learner (child support grant).

TYPES OF EXEMPTION SCHOOL FEE EXEMPTION

Partial Exemption

If the school fees are between 3.5% and 10% of your combined income then you qualify for a partial exemption. It works on a curve and the school will let you know how much the reduction will be.

Note: If you have more than one child at a school then if the fees are between 2 and 3% of your income you should discuss what exemption you will qualify for.

Full Exemption

If the school fees are 10% or more of your total income then you will qualify for a total fee exemption. You will not have to pay any fees.

DO YOU QUALIFY? SCHOOL FEE EXEMPTION

Divorced?

In the past schools might look at the combined income of both parents even though they were divorced. Now the law has changed (after a SCA ruling) and the parent paying the school fees income is the one that is considered (and yes that income might include a maintenance payment). The school can however approach the other parent in regard to outstanding fees or paying a portion.

How To Apply

You can contact the school direct and ask what forms are needed. It is best to do this at the start of the year. They will ask for some proof of income etc to substantiate your application but it will be worth it to see if you can qualify.

For More Info:

For more information you can visit the Department of Basic Educations website: https://www.education.gov.za/informationfor/parentsandguardians/schoolfees.aspx

BREAKING NEWS

DECEMBER 27TH 2022

Because the Christmas holiday (which is a public holiday by default in South Africa) falls on a Sunday this year, SA labour law states that the public holiday should be shifted to the following day.

Here is the snag: the following day (Monday) is already a public holiday (known as the Day of Goodwill). So, everyone was curious as to what would happen. Would the following day be made into a public holiday or not?

Labour unions in particular were pushing for some more time off for workers (or double time for those who have to work).

The Presidency has announced that the 27th will be a public holiday this year.

THESE PROVINCES HAVE OVER 50% UNEMPLOYMENT

Stats SA recently released information about unemployment in the various parts of SA. Apparently, the official overall number of unemployed people has come down. Which is great news.

15 million South Africans have work while officially 7.7 million are unemployed.

This doesn’t mean that it has been a dramatic shift compared to last year of course and the official way at looking at the numbers is not considered the best measure. In reality, the extended parameters/definition paints a more realistic picture.

It might shock you to learn that in 2 of SAs provinces more people are unemployed than have work with a third province almost there.

North West has 53.3% unemployed; Eastern Cape has 50.6% unemployed; Limpopo now sits at 49.9% unemployed according to the expanded definition. So basically half.

The Western Cape has the lowest unemployment figures in SA, sitting at 24.5% officially and 29.5% by the expanded definition.

NEW ANTI-TERRORISM LAWS IMPACT ALL CREDIT PROVIDERS

The National Assembly has signed off on the General Laws Amendment Bill. The bill is known as the Anti-Money Laundering and Combating Terrorism Financing Bill and is aimed to keep SA in line with international requirements (which if you do not follow, you end up grey listed apparently).

The Bill will amend 5 current Acts including the Companies Act, Financial Intelligence Centre Act (FICA), Financial Sector Regulation Act (FSRA), Trust Property Control Act and some parts of the Non-Profit Organisations Act.

The big change, is that these Acts will now include an updated definition of what it means to be a ‘beneficial owner’.

The Bill next goes to the National Council of Provinces (NCOP) for consideration (in something of a rush apparently) then will be given to the President to sign into law – hopefully before the end of this year (2022). What does it mean?

It means that all credit providers (including some collections agents who are registered as CPs) now become ‘accountable institutions’ (as per FICA) and have to register with the FIC.

This would include anyone who lends money for a fee or charges interest (as explained in the NCA), regardless of their size. Yet another nail in the coffin of illegal loan sharks, and another reason they can be fined and shut down.

It also means that once under FICA, all such credit providers will have to have a formal Risk Management Program, and can only onboard clients after they have done proper screening to know their client very well.

Each

DEBT REVIEW

A habit is something that becomes automatic given enough repetition, and then becomes easier to maintain.

Good habits are formed with hard work and dedication.

By adopting healthy habits, success is sure to follow. Here at iPDA, we cultivate good habits like:

• Continuous personal growth;

• Preparing today for tomorrow;

• Encouraging our team to provide solutions rather than problems.

New Year’s resolutions tend to not have longevity without an action plan!

Make the iPDA part of your plan this year!

We offer seamless collection and distribution capabilities, comprehensive reporting and a whole range of controls and benefits that make the way you serve your consumers fast, cheaper and, well, more intuitive!

Here’s to a year of better habits and positive thinking!

www.ipda.co.za

DEBT COUNSELLORS

NORTHERN CAPE WESTERN CAPE

Why Us?

National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688 www.nationaldebtadvisors.co.za

Why Us?

We pledge to deliver the utmost in client service and act with the highest standards of integrity. Visit our social networks for more information.

National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688 www.nationaldebtadvisors.co.za

Why Us?

We pledge to deliver the utmost in client service and act with the highest standards of integrity. Visit our social networks for more information.

National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688 www.nationaldebtadvisors.co.za

Why Us?

We pledge to deliver the utmost in client service and act with the highest standards of integrity. Visit our social networks for more information.

National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688 www.nationaldebtadvisors.co.za

Why Us?

We pledge to deliver the utmost in client service and act with the highest standards of integrity. Visit our social networks for more information.

National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688 www.nationaldebtadvisors.co.za

Why Us?

We pledge to deliver the utmost in client service and act with the highest standards of integrity. Visit our social networks for more information.

National Debt Advisors

Fighting For Consumer Justice

Tel: 021 007 1688 www.nationaldebtadvisors.co.za

Why Us?

We pledge to deliver the utmost in client service and act with the highest standards of integrity. Visit our social networks for more information.

Credit

NCRDC533

NCRDC1142

Tel: 086 111 6197 Fax: 021 425 6292 info@creditmatters.co.za

Tel: 087 701 9665 Email: help@zerodebt.co.za www.zerodebt.co.za

NCRDC3042

WESTERN CAPE

LEGAL

Liddles & Associates

“If you do what you’ve always done, you’ll get what you’ve always gotten.”

- Tony Robbins

(T) +27 87 138 3275 (E) quintin@liddlesinc.com www.liddlesinc.com

Steyn Coetzee Attorneys / Prokureurs

Adri de Bruyn

11 Market Street / Markstraat 11, Paarl, 7646

Tel: 021 872 1968 Fax: 021 872 2678 adri@steyncoetzee.co.za

RM Brown and Associates

16th Floor, The Pinnacle Cnr Strand & Burg St Cape Town

Tel: 021 202 1111, f: 021 425 0875 Email: roger@rmbrown.co.za

Effective Intelligence sardagh@e-intelligence.com

Fides Cloud Technologies craig@fidescloud.co.za

Finch Technologies chris@finchinvestments.co.za

I-Bureau Services abrie@ibureau.services

IDR South Africa shane@v-report.co.za

iFacts sonya@ifacts.co.za

Managed Integrity Evaluation

marelizeu@mie.co.za

Maris IT Development marius@marisit.co.za

National Validation Services info@nvs-sa.co.za

Octagon Business Solutions gregb@octogon.co.za

Omnisol Information Technology info@verifyid.co.za

Inoxico support@inoxico.com

Kudough Credit Solutions chrisjvr@kudough.co.za

Lexisnexis Risk Management kim.bastick@lexisnexis.co.za

Lightstone chrisb@lightstone.co.za

Payprop Capital johette.smuts@payprop.co.za

PBSA seanb@PBSA.CO.ZA

Right Cover Online cto@rightcover.co.za

Searchworks 360 skumandan@searchworks360. co.za

ThisisMe juan@thisisme.com

TPN Group michelle@tpn.co.za

Trans Africa Credit Bureau

clintonc@transafricacb.co.za

Transaction Capital Credit Health DavidD1@tcriskservices.co.za

VeriCred Credit Bureau sumein@vccb.co.za

WeconnectU johann@weconnectu.co.za

Zoia Consulting sipho@dots.africa

Loyal1 tshepiso@loyal1.co.za

Smart Information Bureau info@smartbureau.net

Dear Debt Counsellors,

RE: THE NIMBLE GROUP DEBT REVIEW CONTACT DETAILS AND ESCALATION PROCESS.

This letter serves to communicate to the Credit industry to use the following contact details for the Nimble Group when processing Debt Review related applications, enquiries, queries and, complaints escalation process.

Kindly take note Nimble Group hereby consents to service all legal documents applicable to Debt review herein by way of email.

Email & Task Type

Forms 17.1 and 17.7

Forms 17.2, Proposal Summaries, Cascade plans & Court orders

Forms 17.2 Rejection, 17.W & Form 19

Forms 17.3, General queries, settlements, balance, refunds, statements, Paid up letter request & reckless lending allegations, payment allocation queries & Complaints

Contact Details

drcob@nimblegroup.co.za

drproposal@nimblegroup.co.za drtermintation@nimblegroup.co.za drqueries@nimblegroup.co.za

DEBT REVIEW INBOUND CONTACT NUMBERS: +27 87 250 5533 +27 21 8300 711

DEBT REVIEW ENQUIRIES ESCALATION MANAGEMENT ORDER CONTACT DETAILS

Kindly note that escalations must only be done once you have sent your request to the above-mentioned contact email addresses and if your requests are out of SLA in lieu Debt Review forms response business days stipulated in the NCR Act.

Kind Regards,

Denvor Rank

Operations Manager: Process Recoveries

1st line escalation

Aletta Tokollo Molelekeng Debt Review: Team Manager

D: +27 11 285 7247

E: AlettaM@normanbissett.co.za

2nd line escalation

Denvor Rank Operations Manager: Process Recoveries

O: +27 21 830 0750 (Ext. 6062)

E: denvorr@nimblegroup.co.za

3rd Line escalation

Zivia Koff

Specialised Process Manager

D: +27 21 492 4554

E: ziviak@nimblegroup.co.za

We trust this communication finds you well and that it will improve our service to you.