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All Things Financial

What are my options in times of financial crisis?
We advise our customers to contact the National Debt Mediation Association (NDMA) and the National Credit Regulator (NCR) for assistance. The NDMA also prov...
Tue, 7 Nov, 2023 at 3:33 PM
What is debt review?
Should you reach a stage in your life where you are unable to pay back your loans, a debt counselor will assist you in negotiating with your creditors (the ...
Tue, 7 Nov, 2023 at 5:02 PM
What is an interest rate?
An interest rate is the fee you pay to the company from which you borrow money. It is calculated as a percentage of the amount borrowed, and it will need to...
Thu, 30 Mar, 2023 at 6:52 PM
What is net income?
This is the part of your salary that gets paid into your bank account every month (or week) after deductions such as tax, UIF, medical aid or pension.
Thu, 30 Mar, 2023 at 6:57 PM
What is gross income?
This is the money you earn from your salary every month before any deductions have been made.
Tue, 22 Nov, 2022 at 10:30 AM
What is the credit cost multiple?
The credit cost multiple shows how much you are paying over and above the amount you are borrowing. This is calculated by adding your loan amount, the inter...
Thu, 30 Mar, 2023 at 7:01 PM
Does FinChoice offer debt counseling?
Unfortunately, FinChoice does not offer debt counseling services, but we can refer you to someone. Should you find yourself in need of debt counselling, ple...
Tue, 7 Nov, 2023 at 5:04 PM
What is a debit order mandate?
A debit order mandate refers to the permission given by a customer to a service provider to automatically deduct money from their account. In our case, a de...
Mon, 3 Apr, 2023 at 2:38 PM
What is a sequestration?
Sequestration is a process where an insolvent person applies to the High Court of South Africa to write off 80% of their debt.
Mon, 3 Apr, 2023 at 2:40 PM
What is insolvency?
You are considered insolvent if your debt is more than your income.
Tue, 22 Nov, 2022 at 10:32 AM