THE BIGGEST MISTAKE MADE BY OVERINDEBTED CONSUMERS IS TO DELAY
Posted: 21 Jun 2011
Over 60% of over-indebted consumers who approach GGR Assist for financial advice have waited far too long before seeking assistance.
When querying the reason as to why they allowed the situation to get so bad before seeking advice the typical responses are:-
• “I saw debt counselling as a last resort.”
• “I was hoping that my financial s...
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A FEW GOOD REASONS WHY YOU SHOULD APPLY FOR DEBT COUNSELLING / DEBT REVIEW
Posted: 24 May 2011
1. PEACE OF MIND – One cannot underestimate the huge relief that debt counselling offers over-indebted consumers. Firstly, by stopping the incessant phone calls from credit providers and secondly, knowing that a plan of action is in place to address all debt. This brings welcome relief and improves your quality of life.
2. REMOVES THE COSTS DE...
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CONSUMERS MUST SEE A DEBT COUNSELLOR BEFORE A SECTION 129 NOTICE IS SERVED
Posted: 07 Apr 2011
A recent Supreme Court of Appeal ruling clarifies the administrative procedures to be followed in the debt review process.
The judgment, clarified the interpretation of section 129(1) of the National Credit Act (Required procedures before debt enforcement). The ruling confirms that once a consumer has defaulted and a credit provider has issued t...
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TERMINATIONS BY CREDIT PROVIDERS INVALID IF THE CASE HAS BEEN REFERRED TO A MAGISTRATE COURT
Posted: 02 Feb 2011
In a full bench judgement in the Western Cape High Court the Judges have ruled that Credit Providers cannot send a Section 86(10) termination if the matter has already been referred to a Magistrate.
This judgement is a great victory for the consumer who has applied for debt review and the Debt Counsellor who has followed the debt review pro...
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A CASE STUDY - FNB FRUSTRATES THE DEBT REVIEW PROCESS, AFTER FNB DECLINED THE PROPOSAL AND MADE A COUNTER PROPOSAL WHICH WAS ACCEPTED AND PAYMENTS MADE BY CONSUMER ARE 100% IN LINE WITH FNB’S COUNTER PROPOSAL
Posted: 24 Jan 2011
Below is the chronology of events of Mr & Mrs L’s application for Debt Review with Gerald Rodrigues of GGR Assist (Pty) Ltd.
Profile of Mr & Mrs L:
Age: 56 / 59
Sex: Male / Female
Race: White / White
Marital status: Married (COP)
Number of children: 1 (21 year old)
Occupation: Handyman / Pensioner
Employment sector: N...
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DEBT COUNSELLING SUCCESS STORIES
Posted: 06 Jan 2011
GGR Assist has successfully obtained Court Orders for the debt review applications of many consumers. Below are just ten success stories …….
CHB – 1
After five court hearing postponements, we managed to get a court order granted on 6th December 2010. On the 15th December CHB’s wife’s account was “raided” by Standard Bank, with R16000 deducted...
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A CASE STUDY - FNB FRUSTRATES THE DEBT REVIEW PROCESS, AFTER ACCEPTING THE PROPOSAL AND PAYMENTS MADE BY THE CONSUMER ARE 100% IN LINE WITH THE PROPOSAL
Posted: 22 Dec 2010
Below is the chronology of events of Mr C’s application for Debt Review with Gerald Rodrigues of GGR Assist (Pty) Ltd.
Profile of Mr C:
Age: 51
Sex: Male
Race: White
Marital status: Married
Number of children: 2 (4 year old and 2 year old)
Occupation: Salesman
Employment sector: Non-Government – Manufacturing
Gross...
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NEDBANK MADE TO REDUCE GGR CLIENT’S DEBT BY R61 318.50 AND FNB’S ILLEGITIMATE SALARY DEDUCTION OF R1 200 PER MONTH WAS FINALLY STOPPED AFTER 3 YEARS
Posted: 19 Nov 2010
On 6th August 2009, Ms M applied for Debt Review with Gerald Rodrigues of GGR Assist (Pty) Ltd, which started with Ms M owing Nedbank R82 306.83 and having R1 200 deducted off her salary every month for a debt she did not have with FNB. By exercising her rights, with the assistance of a professional Debt Counsellor, Ms M’s debt to Nedbank was redu...
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FNB MOVES THE GOALPOSTS – WHICH OF THE OTHER BIG 4 BANKS HAVE FOLLOWED SUIT?
Posted: 15 Jun 2010
FNB has modified its attitude regarding Debt Review applications.
As a result of the huge number of debt review terminations by FNB, the Head of FNB’s Debt Review Department – Mpho Thekiso was invited to address the Debt Counselling Association’s (DCASA) meeting held at the University of Pretoria Law Clinic on 9 June 2010.
Mpho stated cat...
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THE SHERIFF OF THE COURT CAN TAKE ALL YOUR GOODS, YET YOU MAY END UP OWING MORE AFTER THE GOODS ARE SOLD
Posted: 07 Jun 2010
Mr P owed FNB R53, 786.
Mr P applied for a Debt Review, but this specific debt could not be placed under debt review as a summons had already been served.
The Sheriff removed goods in terms of an Execution Order from the Court.
The goods were all less than 2 years old and were purchased for the following value:
Fridge R 18,000;
M...
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FREQUENTLY ASKED QUESTIONS???
Posted: 27 Aug 2009
WHO QUALIFIES?
Any person living in South Africa that receives an income.
IS THIS REALLY DEBT CONSOLIDATION?
It depends on how you understand the words “Debt Consolidation”? Debt Consolidation is normally understood as getting new debt from one credit provider so as to settle all other debts. Debt Review uses the existing debt with y...
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OVER-INDEBTEDNESS CAMPAIGN
Posted: 23 Jul 2009
Consumers are advised to seek help during these tough economic times, instead of rushing to apply for more credit in order to pay off their debts. The NCR as part of our mandate to educate and protect consumers have devised a “Self Help” document for consumers to help you cope with debt stress.
The following are tips from the NCR:
1. KNOW YO...
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KNOW YOUR OBLIGATIONS WITH REGARDS “DOMICILLIUM CITANDI ET EXECUTANDI”
Posted: 20 Jul 2009
The average "person in the street" is not fully aware of the importance of one's recorded "domicillium citandi et executandi". Especially the need to ensure that this information is formally updated as and when one changes addresses. This address in effect is the official address chosen for all legal correspondence.
Below a real example is ...
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DID YOU KNOW?
Posted: 19 Jun 2009
• 17.56 million South Africans are credit active with 61 million credit accounts, or around 3.5 accounts per credit active consumer.
• 41.60% of these accounts are delinquent
• at the end of April 2009 around 68 500 cases of over-indebted have been registered with the NCR
• The industry estimates this will increase to 200 000 by mid 2009
...
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TRAINING PROGRAMME FOR COMPANIES
Posted: 10 Jun 2009
Understanding your Finances
Understanding your Finances is a 2 hour course designed to introduce employees to the basic concepts of finance.
It starts with an understanding of a payslip and then teaches participants to budget. By having controlled budget expenditure one can ensure saving occurs and we then take a quick look at interest rates ...
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SECTION 129 LETTERS
Posted: 23 May 2009
CONSUMERS RIGHTS WHEN YOU RECEIVE A LETTER OF DEMAND
According to the National Credit Regulator more than 7 million consumers are more than 3 months in arrears with debt repayments. This means that most of these consumers have already received or will receive a letter of demand from their Credit Providers. Most of these consumers do not kn...
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