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Filter: Loan
Be wary of an ‘instant loan’

15 September 2022,  Chang-Lin Dirks

Open any newspaper, check your junkmail or read one of the many unsolicited sms or WhatsApp messages and you will... find an advertisement from a credit provider offering an instant credit loan, some even going so far as to state you are immediately approved. But how legit are these solicitations? 

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2825
Article
How to validly extend the period for getting your home loan approved

07 June 2018,  Corlia van Zyl

I’m trying to buy a house. The purchase agreement is subject to the condition that I obtain a mortgage bond... within 30 days. My time is running out but I’m close to getting the financing approved from my bank. I just need a few more days. Is it possible to extend the 30 day period and if so by when must this be done? I really don’t want to lose this house!

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1940
Article
Tax implications of an interest-free loan to your subsidiary company

08 July 2014

Holdco (Pty) Ltd has recently established a subsidiary company Subco (Pty) Ltd. As a new company, Subco is in need... of a cash injection. Accordingly, Holdco provides a voluntary interest-free loan to Subco to help it out with some much-needed capital to help grow its business. But what are the tax implications of this interest-free loan, if any?

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2288
Article
If my home loan is paid up, should I keep my account open?

02 June 2014,  Stacey Bartlett

Mrs Brown bought a house and registered a mortgage bond in favour of Bank X to finance the sale. She... also opted for the home-owners’ insurance, an option provided by Bank X to insure the property against damages as a requirement of the home loan. After a period of 20 years Mrs Brown has finally paid the last outstanding instalment on her home loan. Mrs Brown felt relieved to finally own her home free from any debt. But has her home loan account automatically been closed? Why then is she still getting statements from the bank?

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2059
Article
What to do with a man of straw?

25 October 2012

Business owners are becoming increasingly concerned with the escalating numbers of debtors failing to make payments and requiring legal action... to recover debt. However, more and more business owners are also finding out that many debtors are just not able to pay their debt or even a part thereof and have no property or assets that can be attached. What can be done with such a ‘man of straw’ or is he beyond the reach of the law.

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1903
Article
Hoe om jouself te beskerm as jy geld leen

19 June 2012

In vandag se moeilike ekonomiese tye maak meeste mense gereeld staat op lenings om noodsaaklike items soos huise, motors en... selfs kruideniersware te kan bekostig. In sommige gevalle word persone genoodsaak om by instellings anders as banke lenings aan te gaan wat tot gevolg kan hê dat ‘n persoon uitgebuit kan word deur die hef van buitensporige rentes en kostes. Om dit te voorkom is dit belangrik om te weet wat jou regte as verbruiker is.

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1857
Article

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