CONSUMERLAWS ARTICLES
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Before a missed payment
Worried You May Miss a Car or Bond Payment? What to Do Before Arrears
If your car or bond account is up to date but the next instalment looks unaffordable, act before the due date. Confirm the payment and shortfall, check…
Section 129 notices
Received a Section 129 Notice? What It Means and What to Check
If you have received a Section 129 notice in South Africa, it generally means that your credit provider alleges that you are in default under a credit…
Credit health
Understand Your Credit Health Across Four Credit Bureaus
Your credit health is about more than whether you have a good or bad credit score. It includes the credit accounts recorded in your name, your payment…
Credit readiness
Prepare for Vehicle Finance or a Home Loan
Thinking of applying for vehicle finance or a home loan? Before submitting an application, check three things: what your credit reports show, whether you can realistically afford…
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63 articles
Credit health
4-in-1 Credit Health Report
A 4-in-1 Credit Health Report allows you to review credit information from TransUnion, Experian, XDS and VeriCred through one service. It helps you compare the information recorded about you, identify differences that may need checking…
Section 129 notices
Arrears Amount on a Section 129 Looks Wrong: What to Check
If the arrears amount on your Section 129 notice looks incorrect, compare it with your credit agreement, account statements, payment records and the lender's transaction history. Identify the particular credit or debit entries that may…
Balloon payments
Balloon Payment Due Soon? What Should You Do First?
If your vehicle balloon payment is due soon, the most important thing is to establish exactly how much you must pay, when it becomes due and which options are realistically available before that date.
Balloon payments
Balloon Payment Problems: What Are Your Options in South Africa?
If your vehicle balloon payment is approaching and you cannot afford the final lump sum, you may have several options. These include paying the amount, refinancing it, selling or trading the vehicle, or asking your…
Home-loan arrears
Bank Calls and SMSs About Bond Arrears: What Do They Mean?
If your bank is calling about bond arrears, it usually means your home-loan account has an overdue payment that the lender wants to resolve. The bank may contact you by telephone, SMS, email or letter…
Car-finance arrears
Bank Calls and SMSs About Missed Car Payments: What Do They Mean?
If the bank is calling or sending SMS messages because you missed a car payment, the contact usually means your vehicle-finance account has been identified as overdue and the credit provider wants the matter addressed.
Car-finance arrears
Behind on Car Payments? Understand Your Car-Finance Stage
If you have missed a car payment or fallen behind on your vehicle finance in South Africa, start by identifying your actual account stage.
Vehicle repossession
Can a Bank Repossess a Car Without a Court Order?
For a consumer vehicle-finance agreement governed by South Africa's National Credit Act, a bank generally cannot forcibly take the financed vehicle through self-help if the consumer does not consent. If involuntary repossession is pursued, court…
Balloon payments
Can You Refinance a Balloon Payment?
Yes, you may be able to refinance a balloon payment in South Africa, but approval is not automatic. Refinancing generally involves applying for new credit to pay the large final amount owing on your vehicle-finance…
Car-finance arrears
Can You Sell a Financed Car While in Arrears?
Yes, selling or trading a financed car while you are behind on payments may be possible in South Africa. However, the existing vehicle-finance agreement must be properly dealt with, and the finance provider's ownership, title-holder…
Balloon payments
Can’t Afford Your Car Balloon Payment? Compare Your Options
If you cannot afford your car balloon payment in South Africa, you generally have four options worth investigating before the final amount becomes overdue: refinance the residual, sell the vehicle and settle the finance, trade…
Before a missed payment
Can’t Afford Your Next Bond Payment? What to Do Before Arrears
If you are worried about affording your next bond instalment, act before the payment date.
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