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06 Sep 2012

10 Credit & Debt Myths (Part 2)

Debt No Comments

John Vaughan (Financial Advisor) @ Lucid Living

Myth 6: My finances are fine because I can pay my minimum payments each month.
By just paying the minimum payment on a debt, you extend your payments for many years, paying massive amounts of interest. Read more

30 Aug 2012

Credit History Critcal For Home Buyers

Home Loans No Comments

John Vaughan (Financial Advisor) @ Lucid Living

According to property financing company ooba, latest statistics from the Credit Bureau Monitor’s 2010 fourth-quarter report show that only 53.3% of SA’s credit active consumers are classified as “in good standing”. Read more

30 Jul 2012

10 Credit & Debt Myths (Part 1)

Debt No Comments

John Vaughan (Financial Advisor) @ Lucid Living

Myth 1: If I don’t use credit, I’ll never be able to buy anything.
If you don’t use credit, you won’t have debt and you will be able to buy things you can realistically afford. Back in the day everyone used cash for purchases, borrowing money was used in the purchase of assets that grew in value – offsetting the cost of interest. Read more

23 Jul 2012

Blacklisting Hurts Your Chances Of Finding A Job

Credit Report No Comments

Tristan Powys (Credit Counselor) @ Lucid Living

Gone are the days where keeping a clean credit report was only to secure your chances of buying a house or car. Now it also influences your career and job prospects. According to Graham Bentley, managing director of Kelly, “companies in certain sectors will not recruit candidates without a clean credit report.” Read more

17 Jul 2012

Consumers “score low” On Credit Scores

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Tristan Powys (Credit Counselor) @ Lucid Living

A survey has found that many South Africans fail to realise the importance of knowing their credit score, with almost three quarters of those polled saying they did not know their credit score. Read more

04 Jul 2012

6 Ways You Might Be Hurting Your Credit Score

Credit Score No Comments

Tristan Powys (Credit Counsellor) @ Lucid Living

If you’ve been trying to boost your credit score—which is a good idea, since people with higher credit scores tend to pay lower interest rates on loans—you might be going about it all wrong. It turns out that many people don’t know just what helps, and hurts, their credit scores. Here are six ways you might be accidentally damaging your credit score: Read more

26 Jun 2012

Credit Improvement Tips for Potential Homebuyers

Home Loans No Comments

Tristan Powys (Credit Counsellor) @ Lucid Living

“The fact is, right now is absolutely the best time we have ever seen to purchase a home,” said Adv Kate Thambiran, CEO of LUCID Clear Credit. “Low home prices and insanely low interest rates are making the dream of home ownership more affordable than ever. But banks are making it a little more difficult to secure a home loan, which makes a favorable credit score all the more important.” Read more

18 Jun 2012

The Generation ‘Locked Out’ of the Property Market

Home Loans No Comments

John Vaughan (Financial Advisor) @ Lucid Living

It seems that in the current climate and for the foreseeable future property ownership will be but a ‘pipe dream’ for the majority of young adults. Read more

28 May 2012

Civil Debt Judgments Down

Judgments No Comments

Eva Smith (Attorney) @ Lucid Living

During March 2012, 41,459 civil judgments for debt amounting to R361.2 million were recorded. Read more

21 May 2012

Credit Law Fails To Protect Consumers From Credit Bureau

Credit Report No Comments

Eva Smith (Attorney) @ Lucid Living

Americans are virtually powerless to correct damaging mistakes in their credit reports due to loopholes and obstacles in the federal law governing credit-reporting agencies, an Ohio newspaper reported Sunday. Read more