Theasen Pillay ( founder of TPA Debt Management) discusses the relevance of Debt Counseling, especially with the challenges that COVID19 brings to South African Families

Debt Counseling reduces a family’s account payments by 40% – 60%

Pay what you can Afford- Every Family Deserves to live their best lives

Debt Counseling Protects a family’s Assets

For a Free Assessment and a Credit Report contact 072 2828 132

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Debt consolidation might be the right plan of action for you, but how will it affect your credit score? Watch Jeff Schwartz from Consolidated Credit Canada break it down.

https://registereddebtcounsellors.co.za/
Cal : 087 135 5025 or email: info@registereddebtcounsellors.co.za

RESTRUCTURE ALL YOUR DEBT INTO ONE AFFORDABLE INSTALMENT.

WHAT IS DEBT REVIEW?

South Africa currently has over 12 million over-indebted consumers out of 20 million credit active consumers.  Drastic action was needed to help  and In 2007 government passed the National Credit Act 34 of 2005(hereinafter referred to as “The Act”. The Act came into full force along with guided regulations which helped with the procedure and implementation of the Act..   The National Credit Regulator overseas enforcement of the Act and all Debt Counsellors must be registered with it. Debt Counsellors are given a registration number which can be verified on the National Credit Regulator’s website.
S86 and 87 of the Act deals with Debt Review applications. A person is over-indebted if they cannot pay for some or all of their monthly debt obligations after living expenses are deducted from their nett salary.
 
HOW DEBT REVIEW WORKS?

Many countries have adopted debt counselling to assist their citizens who are struggling financially.  Debt Review in South Africa works similar to other countries. Debt Review is a process that allows an over-indebted consumer to have their debt restructured so that they have more disposable income available.  This is achieved by reducing their monthly debt repayments to each creditor pro rata.  As Debt Counsellors we have industry leading software which helps us achieve this.  We are able to calculate a consumer’s estimated debt repayment over an established period.  Debt Counselling has rules often referred to as Task team Agreements.  It serves as a guideline and is followed by Debt Counsellors and Creditors so that there is general uniformity.   Credit agreements must solve within a specific period, meaning the terms are only allowed to be extended to certain period dependent on the credit agreement concerned.

Many of our clients who have applied for Debt Counselling are happier and more at peace. They no longer have to worry about debt and are able to sleep peacefully. Debt can be a burden on your health and wellbeing.  As Debt Counsellors we are very compassionate to our clients.  After you apply for Debt Counselling, you can forget about your debt repayments and focus on the more important things in life that matter.
 
Contact us for a free assessment.

Is there such thing as good debt? And how could something good cause so many issues? On top of this is there anyway that we could just run an economy without debt and would we be better off for doing so. Well it turns out we probably can, and in fact there are many economies around the world today that are developing rapidly while going without this system that we just assume is a given.

If we can critically explore these questions it will offer insight into how our modern financial system works, and why it means that despite our best efforts we are almost destined to go into a recession once every 10 years or so.

#debtcrisis #recession #economy

Patreon – https://www.patreon.com/EconomicsExplained

Discord – https://discord.gg/7kM7Tw9

Enquiries – loungejita@gmail.com

Money printer meme video – https://youtu.be/O1hCLBTD5RM

second channel for Q&A Streams – https://www.youtube.com/channel/UCOTgNyfQG4vVP5sCXrJaS4g?view_as=subscriber

References –

Harris, M. and Raviv, A., 1990. Capital structure and the informational role of debt. The Journal of Finance

Chava, S. and Roberts, M.R., 2008. How does financing impact investment? The role of debt covenants. The journal of finance

Holmstrom, B., 2015. Understanding the role of debt in the financial system.

Frost, C.A. and Bernard, V.L., 1989. The role of debt covenants in assessing the economic consequences of limiting capitalization of exploration costs. Accounting Review

Ariff, M., 1988. lsIamic banking. Asian?Pacific Economic Literature

Articles –

https://www.theguardian.com/business/2019/jan/05/global-economic-crash-2020-understand-why

https://www.washingtonpost.com/

https://www.theguardian.com/business/2019/dec/29/its-more-than-a-decade-since-the-financial-crisis-wheres-the-recovery

Graham’s Video – https://www.youtube.com/watch?v=Uw3EhsmLe08&t=1385s

In this powerful karma cleanse angel message you will experience a powerful energy healing, vibration shift and cleanse of your karmic cords, attachments and ties.

Channeled by Melanie Beckler with Archangel Metatron, Archangel Michael, Archangel Azrael, and Archangel Uriel…

As you relax and listen you will lovingly and gently be guided through a powerful karmic cleansing technique.

Quiet your mind, relax and listen to lift in the energy healing light of the angels as you experience cord cutting, spirit release, releasing attachments and negativity, energy healing and cleansing your karma.

Cleansing karmic attachments and releasing all that no longer serves you will help you to raise your vibration, tap into your spiritual power and step into living with more joy love and positivity in your life.

Listen another psychic healing meditation channeled by Melanie Beckler here: https://www.youtube.com/watch?v=UnRR6AfCNqk

If you like this channeling be sure to subscribe for more here:
https://www.youtube.com/subscription_center?add_user=askangels

Feel free to share this Karmic Cleansing meditation using this link:
https://www.youtube.com/watch?v=39kXZPGpjak

Or if you would prefer to download the .MP3 or read the full transcripion click here:

http://www.ask-angels.com/free-angel-messages/karmic-clearing-angel-message/

The National Credit Amendment Bill aims to provide relief to low-income earners, by erasing part or all of their debt.

For more on this, we’re joined by Norton Rose Fulbright Attorney’s Riccardo Petersen.

Courtesy #Dstv403

Debt consolidation? Huh, what is that? In this episode, learn what debt consolidation is and the types of debts that can be consolidated. Also, find out what it means when you take up debt consolidation and what are the requirements to qualify for a debt consolidation plan.

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The United Way through many non-profits in our city is helping teach low income women how to become financially stable.

How good does debt consolidation sound? Take all your credit cards and combine them together with one easy lower interest payment. Here are some things you should know that might change your perspective on it.

Debt consolidation does not help you pay down large amounts of debt and it doesn’t get you out of debt quickly. It’s a refinanced loan that extends your payment. That means you will be in debt longer. Our view is if you’re in debt, you should be working to get out of debt as quickly as possible!

They market low-interest rates, but that doesn’t always mean it will be lower. A lot of companies market an introductory promotion of a lower rate to get people in and then raise the rate over time.

This is a big one. You are only consolidating your debt. You are not eliminating it. It’s really easy for us to view debt consolidation as the first step to us getting out of debt, but the problem is… usually nothing changes after you consolidate. You have the same buying and spending behaviors.

To eliminate debt, you don’t need to consolidate, you need a plan to start paying off your debt quickly!!!

It starts with taking control of your money. Getting eyes on where it’s going. You have to start with a budget, so you can start allocating money from areas of spending to now going towards paying down debt.

If you have multiple cards, there are two ways to attack it. First, stop using the cards. Start using cash for your expenses so the amounts don’t increase on your cards while you are trying to pay them down.

Here’s where two strategies come in: If you’re looking strictly at the numbers, you should pay all the minimum payments except for the card with the highest interest rate. Put every dollar & energy towards paying that card off first. Once paid off, put everything plus the new amount saved by eliminating a card towards the second-highest interest and continue to do this until they are all paid off.

What studies have shown is people have a higher success rate when they follow this plan, but instead of paying the highest interest rate first, you pay the lowest amount owed regardless of the interest rate. It’s encouraging and motivating to see change and the card with the lowest amount is the easiest to pay off. Going from 4 cards to 3 builds your confidence because you’re seeing it working! It’s shown that more people making to paying off all their debt with this strategy even though they might be paying a little more in interest.

Remember, it’s not a consolidation problem, it’s a behavioral one and it will only be fixed by taking control over your money!

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CREDIT COUNSELLING CANADA NON PROFIT

I review a credit counselling Canada site that has been very active in blogging about Canadian insolvency, bankruptcy and consumer proposal issues.
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Ira Smith Trustee & Receiver Inc. 167 Applewood Crescent #6, Concord, On L4K 4K7 (647) 799-3312

http://www.irasmithinc.com/blog/credit-counselling-canada/
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#creditcounsellingcanada #bankruptcy #debt #consumerproposal

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CREDIT COUNSELLING CANADA: VERY BUSY WITH BANKRUPTCY ONLINE CHATTER

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Credit Counselling Society – Bankruptcy Misconceptions and Options Canada | The Credit Counselling Society – Credit Counselling Society

Here are some of my other favorite youtubers and their videos!
Should I Use Bankruptcy or a Consumer Proposal in Canada?
What not to do before filing bankruptcy
Bankruptcy from Tax Debts
Personal Finance Q&A: How do I know when to declare bankruptcy?
Proven Biblical Money Principles – Dave Ramsey
Proper Use of LLCs for Real Estate
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Mark Cuban: How I Became a Billionaire
Should I File Bankruptcy Or Pay Off $80,000 In Debt?
Former CIA Officer Will Teach You How to Spot a Lie l Digiday
Bankruptcy – 3 Secrets to Rebuild Credit the Day After Discharge
Don’t Talk to Cops, Part 1
How We Help – Consumer Credit & Debt Counselling Canada | The Credit Counselling Society
Our Bankruptcy Story. What It Was Like to Go Bankrupt.
BANKRUPTCY IN ONTARIO CANADA SECRETS REVEALED
The Pros and Cons Of Bankruptcy
Consumer Proposals: What’s the Catch?
Bankruptcy in Canada Video 2: Provincial Exemption Limits and Asset Seizures
46% of Canadians on the brink of insolvency as rates rise: Survey
Sample retirement plan for 50 year old getting late start.
Total Debt Freedom
Epstein Epstein
Tax Audit Solutions
CBC News
Seacoast Church
Real Estate Asset Protection
Conor Neill
Bloomberg
The Dave Ramsey Show
Digiday
David Hetti
MP Anon
Credit Counselling Society
CreditDebtLife
Ira Smith
Hoyes Michalos
Hoyes Michalos
moneyandbusiness
BNN Bloomberg
Jazz Wealth Managers

Take a look at Credit Counselling Society stats and you’ll understand why I am a fan.

Video Url: https://www.youtube.com/watch?v=cqWIvnvHOX8
Video Title: Bankruptcy Misconceptions and Options Canada | The Credit Counselling Society
Username: Credit Counselling Society
Subscribers:
Views: 3,839 views

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CREDIT COUNSELLING CANADA: VERY BUSY WITH BANKRUPTCY ONLINE CHATTER

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