Credit Guide

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The top 11 credit mistakes Putting your administration or sequestration behind you My creditors are chasing me for money what do I do

Debt Help Debt Settlement Plan The 7 Steps to Wealth Sequestration vs Debt Counselling Collections crash course Do-it-yourself debt reduction merchant credit guide co

A guide to bond registration Six simple things you can do to ensure a smooth home purchase 10 questions to ask your attorney Making use of an estate agent Arranging your move Buying a home

ID Theft Security Online Shopping how safe is it really Identity theft contacts apply online for credit card

Identity theft - Questions Answers An ID thief stole my life! Identity theft basics Password protection The dangers of using a cyber caf The 10 rules of financial management Saving with an access bond Money management tips Investor lessons from cricket

• Sequestration vs Debt Counselling

  The difference between Sequestration and Administration or Debt Counselling by card credit debt debt guide

• Credit reports: Inaccuracy can be costly

  When it comes to your credit record, inaccuracies can be costly. Find out what the costs are. Get the best advice. We ll help you save money. credit repair

• Which credit report is right for me

Do you know you have the right to get your credit report from the two major bureaus free, once a year You need both to get the full picture. The Credit Health Report gives you both, plus expert advice and guidance. active credit credit guide

• Credit Health Monitor

  Did you know that ID theft is becoming a major threat in SA. Crooks are stealing identities and fraudulently opening accounts with them. Find out how to avoid becoming the victim of ID theft... credit score

About Us

| Affiliates | Privacy Policy | Website Terms bad car credit guide loan

Disclaimer: Your use of any information posted at http://www.credithealth.co.za is subject to the Website Terms. While Credit Health (Pty) Ltd has used its best efforts to verify that the information presented on this web site was correct at the time it was posted, we make no express or implied warranty regarding the accuracy, adequacy, completeness, legality, reliability or usefulness of any such information. bad credit loan

Fight back on your debt What to do if the Sheriff comes knocking Facing financial crisis Divorce could put you in unexpected debt

HomeLoans Apply for a Bond Consolidation Loan Capital gains tax Prequalified, Pre-Approval, Approval - what does it all mean Supporting documentation credit definition derivative

Investor lessons from cricket

LifeStages Starting Out Buying a car Marriage Family Buying a house Getting ahead Overcoming challenges Planning for retirement Learning Centre About Credit Health Credit Health Manager Debt Settlement Plan - example bad credit mortgage

Debt Settlement Plan - Q A Why settle you debts Starting Out Starting out right building a good credit profile Spending your first pay cheque Advice Applying for finance what to look out for in the fine print Starting Out

You are really fortunate to be reading this at an early stage of your financial career path. We use the term career path for good reason ... if you learn how to manage your money now; and if you make a priority of it as you do your career, look what you can look forward to! the insider guide to credit

• A life unburdened by debt! business credit card

• Early, wealthy retirement! banker complete credit guide

• Living the life of your dreams! credit card application

• A wonderful personal life with no debt stress! credit guide managing

Yes, its true! The outlook for someone who makes the right decisions early on is incredible! No matter how modest the beginnings! No matter how small your current salary! And because you are reading this, you are clearly heading in the right direction! Allow us to help you avoid some of the more common traps that most people fall into ... credit card offer

1. Develop a healthy respect for debt.

   Know what it really does to people when they spend 75% of their after tax income on debt repayments, as the average South African does! Think of the people you know who are stressed by debt, and how their private lives suffer. Know that no-one else is likely to point this side of the story out to you! Most of the information you get about debt out there in the world is going to be how easy it is, how you can have what you want NOW, how you deserve it. Understand how it harms you to believe this ... how most people will never be wealthy because of debt. merchant credit guide company

2. Live within your means, no matter how small OR large they get

   . Credit providers (banks, credit card companies, stores, etc) are going to start targeting you with offers of easy credit. After a few years, the trickle will turn into a flood! And its so tempting to enjoy that holiday you deserve but dont have the money for ... or to buy that car you cant really afford. If you can resist the temptation, you will free yourself of over-indebtedness - one of the major causes of stress and strain in most peoples lives! bad credit

3. When you get more money, dont spend more money!

   Celebrate first (remember you must also enjoy life!) then keep living in the same way. Use the extra to save and invest in real investments that really make sense (which are not the ones most people believe in!). collection collection complete

4. Aim for a debt level of no more than 30% and then drive it down further!

   One of the very few real exceptions to the golden rule Dont get into debt is when you buy a house, because few people have the cash. (If you can do without a bond, however, that is really first prize and you will not just be on track to wealth, youll be accelerating like you cant believe!). If you do take a bond, which is usually around 30% of your combined monthly after tax income, dont then get into the habit of taking on more debt. In fact you will save yourself a fortune (this is no exaggeration) if you can repay your bond quicker than the bank expects. credit counseling

5. Develop a good

   credit record ! Make your monthly repayments on time, in full. Take all the other relevant advice on this site. It puts you in such a good position if and when you do want credit! Because it is also true that credit, wisely used, can be a tool to help you build wealth. complete credit guide higher

Start building wealth right from the start by reading these articles below. chase credit card

Spending your first pay cheque

You start building your dreams right from the first pay cheque! And if you do, youll reach them quicker than you can imagine! Now strictly speaking you shouldnt go out and blow your first months salary, but if youre human, youll want to reward yourself for all that studying, temping, scrimping and saving, not to mention the effort you put in to land this job. Should you reward yourself Yes and no well show you how to win both ways! complete credit guide hedging

Starting out right building a good credit profile

Its easy to get a flawless credit record which can really work for you as long as you care for it from the word go. bad credit home loan

QUICK TIP QUICK TOOL Some credit providers prey on the ignorant, taking advantage of your innocence. Applying for finance Dont be a victim. Get the best advice. Debt Settlement Plan - Q A Why settle you debts

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Information

• Consolidation Loan

  If you have built up equity in your home and want to consolidate your debts into your home bond, the consolidation loan could be just want you need. Its the cheapest form of financing, and possibly the best solution. credit score guide

• Credit Health Monitor

  Did you know that ID theft is becoming a major threat in SA. Crooks are stealing identities and fraudulently opening accounts with them. Find out how to avoid becoming the victim of ID theft... online credit report

Debt Settlement Plan - Q A Why settle you debts Debt Help Advice Assistance Sequestration vs Debt Counselling

- by Credit Health If you have come to a point where your debt is out of hand and you just cannot repay it, you may have a choice between sequestration and debt counselling. Lets take a look at the pros and cons of these options. credit guide

• You will be required to produce a salary slip (not older than 2 months) / or a letter from your employer with a breakdown of your salary and deductions. bad credit debt consolidation

• If you are self-employed then you will be required to produce a letter from an accounting officer confirming your income, or a statement of assets and liabilities credit guide process

Companies / Close Corporations

• Copy of financial statements You may be required to produce a full set of financials . eg balance sheet, income statements etc, which must be signed by the auditor. online credit card application

• Details of all the directors / members boston credit first guide

• Founding statement of the close corporation credit card debt

• Close corporation certificate back credit foreclosure

• Company certificate credit card processing

• Memorandum and Articles of Association beat bureau consumer credit

• A resolution by the directors / members of companies / close corporations advising who may sign the home loan application / pre-approval for the purchase of the property credit check

• A copy of the Trust Deed credit guide idiot pocket

• Resolution advising who may sign the home loan applications / pre-approval credit card consolidation

• A resolution by trustees advising who may sign the documents and purchase properties credit scoring guide

Once you ve begun the application process, your property finance consultant will advise you of all the documentation required for your situation. But keep in mind - the more information you have ready before you apply, the faster your loan will be approved. apr credit card

Prequalified, Pre-Approval, Approval - what does it all mean

by MortgageSA Some buyers think getting pre-qualified is the same thing as getting pre-approved when in fact they are quite different. While definitions change in the market, below are general descriptions of what each process entails. Prequalification Getting pre-qualified is simply getting an idea of the price range you can afford. It is based on your stated income, assets, and liabilities. With a pre-qualification, your information is not verified and the loan you pre-qualified for is not guaranteed. the complete guide to credit

Pre-Approval

If you have already started looking for your home, or are working with an estate agent, you will need to get pre-approved. A pre-approval is a lenders firm commitment on a loan and this enables you to enter into negotiations with a seller with confidence. A pre-approval includes a preliminary screening of a borrowers credit history. Once this phase is completed, most lenders consider you pre-approved for a home loan amount. Your pre-approval usually valid for a period of 90 days. navy federal credit union

Approval

Final approval is when you have found your home, a valuation has been conducted, the offer to purchase has been signed by yourself and the seller and everything has been found to be acceptable to the lender. Once you receive final approval, you re ready to close the sale. Knowing the difference between getting pre-qualified and getting pre-approved can help you avoid costly mistakes - including making an offer on a home that is outside your price range. guerrilla guide credit repair

Assistance Identity theft contacts

By Credit Health The South African Fraud Prevention Service, www.safps.org , keeps a list of people who have lost their identity documents to ensure that accounts are not opened using these lost or stolen documents. It is generally not enough to simply report the theft to the SAFPS and a case should usually be opened with the SAPS to ensure that the theft is properly noted. Provided this was done at the time of the theft or loss of your identification papers any subsequent use of your documents to open accounts in your name may be challenged and proof that the documents were stolen will assist you in having the account closed and any balance written off. free credit score

Remember that you can also notify the credit bureaus that any accounts opened by an identity thief were not opened by you and you can request the credit bureau to investigate the account and have it removed from your credit record. complete guide to credit and

The credit bureaus will generally want you to provide them with an affidavit or other proof that you did report the theft of your identity documents. SAFPS Protective Registration Service The free Protective Registration facility is offered to members of the public who are encouraged to register the theft or loss of Identity Books and other personal documents or where there is evidence of impersonation by another person. bad credit credit card

Such registration can be made on the Internet through the South African Fraud Prevention Service website at www.safps.org.za or by calling 0860 101 248 SAFPS Help-Line: 0860 101 248 Tel: +27(0)11 869 6460 E-mail: safps@safps.org.za TransUnion - 0861 482 482 Experian - 0861 105 665 National Anti-Corruption Hotline Number at 0800 701 701 free credit repair guide

QUICK TIP Ask your HR department about the security of their employee files. If stolen, they could be used to perpetrate ID theft against you or your fellow employees. Assistance What to do if the Sheriff comes knocking

By Credit Health Your rights First ask the Sheriff to show you identification to prove they are who they claim to be. Next ask to see the court order they are acting in terms of. Remember only a duly appointed Sheriff acting in terms of a valid court order can write up a list of your assets for attachment. If the Sheriff proves his identity and shows you the court order you must co-operate with him or her. Failure to do so is a criminal offence. low apr credit card

Judicial attachment

The Sheriff will need to write up a list of assets that may be sold by public auction to satisfy the amount of the judgment. You can stop this process at any time by paying the amount claimed, in full, to the creditors attorney and providing the Sheriff with a copy of the proof of payment. The creditors attorney will then instruct the Sheriff to release the goods and you will then be free to do with them as you please. Once the list has been made you cannot sell any of the items on the list or remove them as they have been attached by court order. developer guide to the low

Checking who owns the goods

After the Sheriff has written up the list you can check that the goods attached actually belong to you. Any goods that do not belong to you may be removed by the Sheriff on submission by you of an affidavit setting out which of the goods does not belong to you and whom the goods actually belong to. It helps to attach proof of another persons ownership to this affidavit. Once the Sheriff obtains this affidavit from you they will send it to the creditors attorney and will usually release the disputed goods from attachment. Often the creditors attorney will call for a hearing to determine if you really do not own the goods and provided you can substantiate your claim the court will order the release of the disputed goods from the Sheriffs attachment. earned income credit

The Sheriffs estimated value for each of your possessions will be substantially less than the market value but as the goods ate sold on auction this is usually an optimistic assessment of how much will be paid for the goods. card credit debt guide reduce

Removal of attached items

Generally the Sheriff will not remove the goods they have listed until they have given the creditors attorney the list and obtained their instruction to proceed. The creditors attorney must usually request the Sheriff to proceed and provide the Sheriff with an undertaking to pay the Sheriffs fees. Once the Sheriff has this he or she will return to collect the attached goods and arrange for them to be stored pending their sale. Again, you can easily stop this process by making payment but until the judgment amount is paid the Sheriff will have no choice but to remove the goods. Once the Sheriff has removed the goods he or she will store them and you will have to pay the Sheriffs fees incurred in removing and storing the goods should you want the goods to be released (having first settled the judgment amount). no credit check loan

Sale of removed items

The Sheriff will normally arrange for the sale and give notice both in the newspaper and at their office. It is important that you settle the judgment debt before the sale as the sale cannot be cancelled unless you do so. Getting your assets back If you cannot raise the money to pay the debt you can arrange for family or friends to attend the auction and buy the goods from the Sheriff. It may well be worthwhile to do this as your friends and family may be able to buy back your goods at bargain prices and as the goods will then be legally owned by them they cannot be attached again by the Sheriff. Your friends and family can then loan the goods to you on terms you arrange with them. Be careful not to buy back these items from your friends until the account is settled as the Sheriff can attach anything you own and resell it. earned income credit guide

Putting your administration or sequestration behind you

By Credit Health Sometimes when your creditors cannot be paid and you have no other option your only choice is to be placed under Administration (where your debts are less than R50 000) or to apply to be Sequestrated. In both cases your creditors are entitled to receive payment of their debts or a portion of their debts depending on your financial circumstances. Once the creditors claims have been settled you can apply to be rehabilitated. free credit report online

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