Struggling with credit card debt? Debt mediation might be the step you’ve been looking for. We help create a personalized repayment plan and guide clients through negotiations so payments become more manageable.

See if you qualify: https://debtaidconsulting.com/debt-aid-contact-us-form/?utm_source=yt

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Africa Melane speaks to Damon Sivitilli, CEO of Vantage Debt Management, to help us unpack the real role of debt counselling in South Africa.

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America is now $39 trillion in debt.
You’ve been told the system is stable, but for decades, the real foundation of American power wasn’t gold, it was oil.

Ever since the 1970s, the global economy has depended on one simple rule – if you want energy, you need dollars.
Every country buying oil had to first buy U.S. currency, creating massive global demand that helped America finance wars, expand its economy, and pile up mountains of debt.

Now, that system is starting to crack.

China, BRICS, and major oil-producing nations are building alternatives designed to bypass the dollar entirely. And if fewer countries need dollars, fewer countries need to buy U.S. debt.

That’s where this becomes personal.

America already spends over $1 trillion a year just paying interest on its debt, mortgage rates, inflation, retirement savings… All of it depends on foreign governments continuing to absorb trillions in American bonds.

From the collapse of Bretton Woods and the secret U.S.-Saudi oil deal, to China’s mBridge system and the slow unraveling of the petrodollar era, this is the story of how oil helped sustain America’s debt machine, and what happens if the world stops playing along.

CHAPTERS:
00:00 – America’s $39 Trillion Debt
00:52 – The Dollar Illusion
02:52 – The Secret Petrodollar Deal
06:53 – China Builds a Way Around
10:09 – The Slow Death of the Dollar
12:59 – The Bill Lands on You
13:01 – The Final Domino
15:21 – What Happens When It Breaks

Narrated by: Josh Risser

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Stuck in debt review and wondering how to exit? ???? In this short video, we break down the key steps to legally and successfully remove yourself from debt review in South Africa. ?????

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?? Who qualifies for debt review removal
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Email: jacques@debtwipe.co.za

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Americans are carrying more than $1.2 trillion in credit card debt, and for a lot of people, it’s not from splurging. It’s everyday stuff: car repairs, medical bills, groceries. And if you only make the minimum payment, that debt can grow exponentially, sticking around for years.

The average credit card interest rate today is close to 20%, nearly doubling since 2010. So what’s driving these high rates?

Part of it is the broader economy. When the Federal Reserve raises rates to fight inflation, credit card APRs usually go up too. But that’s not the whole story.

Credit cards are unsecured loans, meaning there’s no house or car to repossess if you don’t pay. And Americans have become more and more reliant on credit cards as wages stagnate and health care costs continue to rise.

Read more about how credit card interest rates are impacting everyone:

Why did my interest rate go up on my credit card? | Bankrate https://www.bankrate.com/credit-cards/news/what-to-do-after-card-apr-increase/

Why are credit card interest rates so high? | Nerd Wallet https://www.nerdwallet.com/credit-cards/learn/credit-card-interest-rates-high

Why is your credit card rate so high? | Wharton https://knowledge.wharton.upenn.edu/article/why-is-your-credit-card-rate-so-high/

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Debt management programs might sound unrealistic but our trained Credit Counselors have your best interest in mind!

Transcript;

Moderator: Mr. Chairman, we have another question online from Craig Caulfield. Seven years on from the Banking Royal Commission, a key recommendation from Commissioner Hayne has not been enacted. A national scheme for farm debt mediation would be a win-win for both banks and farmers, simplifying muddy and complex laws differing between states. Will the Chair and the CEO lobby to undertake to genuinely introduce a national farm debt mediation scheme via the ABA? Do you agree our farmers need to be respected, and form a growth opportunity for Westpac to pick up some turf from NAB and CBA?

Anthony Miller: I certainly agree with you that the agricultural sector, the farming community, is a tremendous opportunity, and we are looking to grow. I think our growth in the loan book in the agricultural sector last year was in the order of 22%, so we are very focused on what we can do there. In terms of that legacy outcome from the Hayne Royal Commission, I will take that on notice. What we’re very focused on is making sure that we partner really well with the farming customers that we have and working with them to make sure that their financing structure is such that it’s sustainable through the cycle and through particular challenges like drought and other that gets in the way.

So, I think we’ve got that right, and I think what you’re seeing in the marketplace in terms of how active and competitive it is in the agricultural sector, that actually it is right and we are getting the balance right as an industry. I will take on notice that question around farm debt mediation and where we are as an industry post the Royal Commission.
Steven Gregg: I think it is important to note that you rightly say it should be done via the ABA, so why don’t we touch base through that forum? Thank you.

“Life just happened. My debt got to the point where I started to feel like I was drowning. I didn’t feel like I could fix it on my own, and I wanted to start living my life as an adult without debt. I decided to reach out for help. At the end of my first meeting feeling relieved, that everything was going to be ok – a lot of work – but ok. I had a plan to pay back my debt and continue doing the things I love to do like Yoga and travelling.” – Yasmine

https://www.nomoredebts.org/stories

???? Discover how debt counselling can be your pathway to financial freedom in this insightful live interview with a registered debt counsellor from Credit Matters, one of South Africa’s leading debt counselling organisations. Learn how the process works, who qualifies, and how it can help you consolidate payments, protect your assets, and regain control of your finances—without becoming insolvent.

Whether you’re overwhelmed by credit card bills, personal loans, or store accounts, this conversation breaks down the benefits of debt counselling under South Africa’s National Credit Act, and offers practical advice for anyone looking to break free from the debt trap.

???? Keywords: #DebtCounselling #CreditMatters #SouthAfricaDebtHelp #FinancialFreedom #DebtRelief #NationalCreditAct #MoneyManagement #LiveInterview #DebtSolutions #ConsumerProtection

4 things to consider when you’re settling debt. How do you settle a debt? How to settle debt yourself? #diy