Reading Time: < 1 minute Coming soon The post Coming Soon on Debtflix first appeared on Debtfree Magazine ..read more

Reading Time: 2 minutes Old Mutual Gets Their Banking License Old Mutual has received approval from the SARB’s Prudential Authority to launch OM Bank Old Mutual Bank Old Mutual, known as one of South Africa’s biggest insurers, just got the green light from the Reserve Bank to start OM Bank. Old Mutual used to own a large stake in Nedbank until 2018. So, they are familiar with the banking space and have successfully dipped their toes into the space in the past. Old Mutual have been planning on launching the bank for some time and two years after applying, they finally got their banking lice ..read more

Reading Time: 3 minutes Scammer Gets Busted Johan Carel Fouché, who is often called the “Casanova Fraudster,” was recently arrested after he chose a senior police officer in Gauteng as his next victim. Over the past 11 years, Fouché (and his alleged accomplice, Leonie Dempers of Edenglo Holdings), have faced multiple fraud cases. They’re accused of scamming people through a deceptive “debt rescue” scheme, taking cash and homes from their victims. Now one of the scams seems to mention debt review or counselling. The Debt Rescue Scam The Hawks have revealed the nature of one of the scams run ..read more

Reading Time: 2 minutes MFC & Nedbank Emails The old MFC debt review matter emails have now been decommissioned. So, please don’t send them emails any more. The change follows the successful integration of systems between MFC and Nedbank. Everything is now being handled through one contact system. What Does This Mean? MFC and Nedbank have asked that all debt counselling process related documents be submitted to: debtcounselling@nedbank.co.za This is their centralized mailbox and can accept emails about Nebank matters or MFC matters. If you have queries about Nedbank or MFC matters ..read more

Reading Time: < 1 minute Free Industry Workshop Debtfree Magazine are hosting a free workshop on Zoom for new Debt Counsellors and Debt Counsellors with under 300 clients who want to grow their client numbers. Although many millions of South Africans have runaway debt, only 12 000 people sign up for debt counselling each month. This means that Debt Counsellors often have to try convince consumers to take positive steps to get out of debt (instead of just taking on more debt). But how do you have those conversations? This will be the topic of the workshop this week as we ..read more

Reading Time: 2 minutes Luno, the cryptocurrency investment app, has secured its Financial Services Provider licence Registering with the FSCA Luno, who are self described as the world’s ‘biggest’ cryptocurrency trading company, has secured its Financial Services Provider licence from the Financial Services Conduct Authority (FSCA) in South Africa (regulated under the FAIS Act). ‘Investing in crypto can be risky’ Investing in crypto can be risky. There are and have been many scams out there, and if things go wrong, you might not get your money back. Unlike when you get scammed at regular ..read more

Reading Time: < 1 minute The post Coming Soon… first appeared on Debtfree Magazine ..read more

Reading Time: < 1 minute African Bank Settling Debts Back in 2014, after some reports of reckless lending and the sudden exit of senior management, African Bank collapsed. In the process of rescuing the sinking ship, the bank was split into “old” African Bank also called Residual Debt Service Limited and “new” African bank (which had the same branding, same offices, same staff). Most of the good debts that people were actually paying each month were moved to the “new” African Bank, leaving RDS with some of the less reliable and bad debts. At the time, RDS set aside R500 million as insuran ..read more

Reading Time: 2 minutes Free Industry Workshop Debtfree Magazine are once again hosting a free online workshop for new Debt Counsellors and Debt Counsellors with under 300 clients who want to grow their client numbers. 30 Min To Help Get New Clients Most Debt Counsellors find it hard to get enough clients to help each month. There are many reasons for this above and beyond competition and people’s tendency to avoid dealing with their debt.  The upcoming workshop covers what can be done to reassure potential clients that they are making a wise choice by deciding on entering debt revie ..read more

Reading Time: < 1 minute The post Read Debtfree Magazine Now first appeared on Debtfree Magazine ..read more