Tips and Tricks to deal with reduced income during the COVID19 crisis

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There is so much information being thrown at us in the media at the moment and all of this just leads to more confusion. This article is meant to give small, relevant bits of information on some of the more important financial aspects of the #lockdown and #coronavirus crisis. Hope that these tips and tricks give you some help. If you feel that you have gained a bit from this article, please hit the like and share buttons at the bottom to help spread the word.

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BEWARE – COVID related Email Scam

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Reading Time: 5 minutes

I woke up this morning to an email from Standard Bank in my inbox. Nothing exciting about that, except that this one was a little different, it had some GOOD NEWS!

The Subject line informed me to “Redeem Your SBSA-COVID-19-Financial Relief Now”! Wow, awesome stuff, just what a lot of people needed at this time.

The body of the message was even more exciting, the government was giving me R7500.00 financial relief to help in the crazy times we are going through!

Then reality hit

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FNB offers Payment Relief amidst Coronavirus Crisis

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FNB is the latest bank to release news that they will be offering payment relief to clients during the #coronavirus crisis.

Clients who bank with FNB and whose accounts are in good standing will qualify. The bank will be offering three months (April, May and June 2020) of reduced or zero payments. The decision will be made based on each individual client.

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Maintaining Payment of Debt Review installments during the Coronavirus Crisis

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Debt Review is a process governed by the laws of South Africa, specifically, the National Credit Act 34 of 2005.

Your Debt Counsellor has no power to “allow” you to reduce or not pay your installment. Even with the current crisis. You MUST continue to pay your installment in order to retain the protection of the Debt Review.

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