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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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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