Can you inherit debt?
As a parent, when you die and leave debt behind, debt collectors can attempt to coerce your children into paying your debt. However, this is not legal. Your children have no obligation to pay your debt.This debt can be medical bills, personal loans, credit cards, vehicle loans, or a mortgage.When you die, your debt will […]
Consolidation Loans vs Debt Counselling
When your debt repayments are high and you are struggling to cover your day to day living expenses, it is time to look for help.The help can come in two forms – a loan that covers all your debt (Consolidation loan) or hiring a professional company to assist you with debt counselling or debt review. […]
The cost of debt counselling
If someone is unable to meet their debt obligations at the end of each month, how will they be able to afford a service such as debt counselling? Once you start the debt counselling process, your debt counsellor will restructure your monthly debt payments. This means the counsellor will get in touch with all your […]
HOW VOLUNTARY LIQUIDATIONS WORK IN SOUTH AFRICA
Voluntary liquidation is easier than voluntary sequestration in the sense that the business doesn’t need assets, whereas the individual must have property or sufficient cash to pay at least ten cents to the rand for the benefit of creditors. In addition, once the business liabilities exceed its assets, by law the business must cease trading […]
The impact of debt counselling on your credit score
When you start debt counselling, the credit bureaus will be informed, and you’ll no longer be able to take on any new credit. This will be for the duration of your debt counselling process and it will prevent you from falling into any further debt.Once you receive your clearance certificate, you must send it to […]
When should you apply for debt counselling?
It’s important to understand that debt counselling is not for everyone. If your debt is manageable and you’re not in over your head, it may be best for you to handle your debt independently or seek an alternative financial solution.However, if you’re struggling to make ends meet and your debt is only increasing, debt counselling […]
When should you consider debt counselling?
Falling into unmanageable debt can be a slow process. Over the course of a year, you may slide from someone who’s meeting debt payments to someone who’s struggling to make ends meet. If you find yourself answering “yes” to any of the below questions, it may be time to take a hard look at your […]
What is Debt Counselling?
Debt counselling is a financial solution where over-indebted consumers can have their debt restructured through a lower, affordable payment. This process also protects the consumer, since the debt counsellor negotiates with the credit providers on the behalf of the consumer. Over-indebted consumers can apply for debt counselling to assist them in settling their debt. This […]
Voluntary Liquidation in South Africa| Clear Future
Voluntary liquidation is easier than voluntary sequestration in the sense that the business doesn’t need assets, whereas the individual must have property or sufficient cash to pay at least ten cents to the rand for the benefit of creditors. In addition, once the business liabilities exceed its assets, by law the business must cease trading […]
How does debt counselling work?
A debt counsellor will assess your finances. If you are deemed overindebted, a budget will be drawn up that will help you allocate funds to your basic needs before paying your debt. Ensure that you provide your debt counsellor with all the necessary documents, such as your proof of income, and bank statements – be […]
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Clear Future Consulting (Pty) Ltd
1st Floor, Qkon Building
8 Pieter Street
Highveld Techno Park
Centurion
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