Archive for May, 2011

Teaching Children To Be Money Wise

Being creative is the best way to get children to learn about finances.The most important thing for parents to remember about financial literacy is that this is lifelong.

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Common Credit Report Errors

In 2004, U.S. PIRG did a survey of consumer credit report errors and found that 1 in 4 reports had “serious errors” that could result in denial of credit. You read that correctly: 79% of credit reports had an error of some kind. That’s absolutely stunning.

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Cell-Phone Companies Attract Attention of Consumer Commission

Not surprisingly the bulk of the more than 2000 complaints the NCC has received in the first three weeks is against telephone companies.

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Judgments Fall But Bad Debt Still High

While data published by Statistics SA (Stats SA) showed that the number of civil judgments recorded for debt continued to decline steadily in March, South African consumers remain highly indebted.

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Money Issues In A Relationship

35 per cent of divorced respondents nominated financial stress as the key issue in prompting the divorce. A “failure to communicate” is typically what causes marital money madness, because most people treat money as a taboo topic.

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Credit Report May Disqualify You From Employment

In terms of the NCA, a prospective employer may only assess a job applicant’s credit report for the purpose of verifying employment and only with the consent of the applicant, which must be obtained prior to viewing the credit report.

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Serial Shoppers Need Help

Usually some form of psychological counselling is needed to deal with the underlying causes of the overspending. In addition, the person needs to seek sound financial counselling.

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88% of Credit Bureau Information is Incorrect

14 836 disputes were lodged about the accuracy of information, of which more than 6 000 had been resolved in favour of the complainant and only 847 had found the information could remain unchanged.

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Cell Phone Contracts and The CPA

The new Consumer Protection Act (CPA) is set to end years of exploitation by companies in South Africa. Cellular service providers who offer poor service will no longer be protected by 2 year contracts that prevent consumers from cancelling.

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Credit Bureau Holds The Keys

If you have previously defaulted on your rental payments and are blacklisted on the credit bureau database, you are unlikely to secure that new home, if your prospective landlord screens you on TPN.

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