Feeling the weight of debt can be one of life’s most stressful experiences. When monthly payments become unmanageable, it’s easy to feel overwhelmed and unsure where to turn. For many South Africans, debt review presents itself as a potential lifeline, offering a structured path back to financial stability. However, this solution is a serious commitment with significant consequences, and disturbingly, it’s a landscape where scammers are increasingly preying on the vulnerable.

Understanding the debt review process, from its real benefits to its hidden dangers, is the first step toward reclaiming your financial future.

What Exactly is Debt Review?

At its core, debt review is a formal, legal process designed to help consumers who are over-indebted. It is not a quick fix or a simple loan. Instead, it involves a registered debt counsellor who formally assesses your complete financial situation. This counsellor then negotiates with your creditors on your behalf to reduce your monthly payments to a more manageable level.

These revised payments are then consolidated into a single monthly instalment that you pay to a payment distribution agency, which then ensures each of your creditors is paid. This restructured repayment plan is ultimately made an order of the court, which provides you with legal protection against your assets being repossessed, provided you stick to the plan.

The Two Sides of the Coin: The Pros and Cons

Like any major financial decision, debt review has significant upsides and downsides that must be carefully weighed.

The Advantages:

• Immediate Relief: Your monthly debt payments are reduced, making them more affordable and freeing up cash flow for essential living expenses.
• Simplified Payments: You no longer need to juggle multiple payments to different creditors. Instead, you make one consolidated payment each month.
• Legal Protection: Once the process is underway, it lowers the risk of creditors taking legal action against you to repossess your assets.
• Lower Interest Rates: In some cases, debt counsellors are successful in negotiating lower interest rates, which can save you a great deal of money over the long term.

The Disadvantages:

• Impact on Your Credit Record: Entering debt review will negatively affect your credit score. A flag is placed on your credit record, indicating you are under debt review.
• No New Credit: While under debt review, you are legally prevented from taking on any new credit agreements.
• It’s a Long-Term Commitment: The process is not short; it can take several years to complete, depending on how much debt you have.
• There Are Costs Involved: Debt counsellors charge fees for their services, which are added to your overall debt.
• It’s Legally Binding: Because the repayment plan becomes a court order, you are legally required to follow it. Failure to make payments can result in the termination of the process and leave you vulnerable to legal action again.

Warning: Spotting the Scams on the Rise

The desperation that comes with debt makes people prime targets for criminals. It’s crucial to be aware of two common scams.

1. The “Debt Discount” Trap Some unscrupulous companies advertise big “debt discounts” without making it clear that they are signing you up for the formal debt review process. They gloss over the serious, long-term implications, such as losing all access to credit and having your status listed with credit bureaus. They may also pressure you into paying upfront fees.
2. Impersonation of Officials Fraudsters are also creating fake loan websites to steal your personal and financial details. They then use this information to contact you, posing as legitimate debt counsellors or even officials from your bank, the government, or the National Credit Regulator. These criminals will pressure you to pay fees or hand over sensitive documents like bank statements, payslips, and copies of your ID.

To protect yourself, always do your homework, read every detail of any agreement, and never commit under pressure.

Is It the Right Path for You?

Before jumping into debt review, it’s essential to consider the alternatives. According to Lebo Gaoaketse, Head of Marketing and Communication at WesBank, this is a serious decision that should not be taken lightly. Exploring other options first is always a wise move:

• Budgeting and Financial Planning: Creating and sticking to a strict, realistic budget can help you get a handle on your finances and pay down debt on your own.
• Negotiating with Creditors: You can try contacting your creditors directly to negotiate a more manageable payment plan or a temporary reduction in interest rates.
• Debt Consolidation: This involves taking out a single new loan to pay off all your smaller debts. If you can secure a lower interest rate, this can simplify payments and save you money, but it is a new credit agreement.

Ultimately, debt review can be an effective tool for those who are truly drowning in debt. However, the key is to make an informed choice. Seek advice from a registered and reputable debt counsellor to assess your personal circumstances and determine if it’s genuinely the right solution for you. Your financial future is too important to leave to chance.

For more practical tips, check out the  WesBank Talks Finance podcast for more information on managing your finances, including managing your debt and avoiding missed payments.

A Tech-Savvy Cockpit

Stepping inside the new Mustang is like entering a fighter jet cockpit. Dual customisable digital displays provide drivers with all the information they need in a sleek and modern layout. The 12.4-inch digital instrument cluster utilises the Unreal Engine 3D tool, allowing drivers to personalise drive mode settings with real-time graphical renderings. This immersive experience extends to the 13.2-inch SYNC® 4 center stack, seamlessly integrated behind a single piece of glass.

Comfort and Convenience

The Mustang’s interior isn’t just about tech; it’s about comfort too. Black Onyx leather seats with heating and cooling functions ensure a pleasant ride regardless of the weather. The center console features a wireless charging pad, while additional USB ports above the cockpit cater to devices like track cameras. A premium B&O sound system with 12 speakers further elevates the driving experience.

Unleashing Power

The heart of the Mustang GT lies in its advanced 5.0-litre Coyote V8 engine, the most powerful ever offered in a Mustang GT. This engine boasts 328kW of peak power and 540Nm of torque, paired with a refined 10-speed automatic transmission.

Embrace the Drive

Ford understands the joy of customisation. Mustang offers six selectable Drive Modes (Normal, Sport, Slippery, Drag, Track, and a customizable setting) that adjust steering effort, engine response, and electronic stability control to suit your driving style. The Mustang GT in South Africa includes the Performance Pack, adding features like a limited-slip differential, active suspension, and wider tires for enhanced track performance.

Advanced Safety Features

The new Mustang prioritises safety with a comprehensive suite of driver-assistance technologies. These include Speed Sign Recognition, Adaptive Cruise Control, Lane Centering Assist, and Evasive Steer Assist. Additionally, the Performance Pack with MagneRide suspension features Active Pothole Mitigation, which adjusts suspension response to smoothen out rough roads.

Stay Connected

Elsewhere, the FordPass app allows owners to remotely start and stop their Mustang, lock and unlock doors, and even schedule a start time. It also provides valuable vehicle information like fuel levels, service history, and warranty details.

Stay tuned for more updates on the arrival of the new Ford Mustang.

According to the Chinese multinational, the new devices offers users innovations in design, performance and operating systems.

Starting off with the Nova 10 Pro, it comes with a thickness of 7.88mm and weighs 191g. It features a 60MP Ultra-Wide Autofocus front camera, supporting 100-degree ultra-wide angle with a 1/2.61-inch sensor and supporting 4K quality.

Up front is a Portrait Close-up Camera which supports 2X optical zoom and up to 5X digital zoom. Huawei went on to further add that the device is made for vloggers in mind with features such as multi-camera shooting experience with the combination of dual front cameras, both front and back cameras, as well as picture-in-picture shooting. Additionally, the HUAWEI nova 10 Pro combines the functions of audio tracking, background sound suppression and P3 wide colour gamut.

All of this is powered by a 4500mAh battery capacity supporting the 100W HUAWEI SuperCharge technology.

Meanwhile, the HUAWEI nova 10 is much thinner and lighter, with a thickness of 6.88mm and weighs 168g. It supports 66W HUAWEI SuperCharge and has a 4000mAH battery capacity.

Both devices also support Wi-Fi 6 Enhancement and 4K QAM modulation. The Huawei Nova 10 Series is fitted with 8 GB RAM plus 128 GB or 256 GB ROM at the following price points: Nova 10 Pro – R15 999 and Nova 10 – R11 999.

The camera hardware on the Honor 70 looks impressive for a mid-range device. It consists of a 54MP primary camera and a 50MP secondary camera that doubles up as an ultrawide camera and a macro camera. The front-facing camera gets a 32MP sensor. Powering the Honor 70 is Qualcomm’s fairly powerful mid-range chipset — the Snapdragon 778G Plus 5G. The international variant of the Honor 70 packs a 4800 mAh battery which supports 65W fast charging using Honor’s proprietary charger. The phone runs Honor’s Magic UI 6.1 interface that is based on Android 12. The color options on offer include Midnight Black, Crystal Silver, and Emerald Green.

The Honor 70 goes on sale starting today across Mzansi. It’ll be priced at R749 with 24 months of installments, or at R579 with 36 months of installments at Vodacom.

The device is also available through MTN in the hero color the Crystal Silver and comes with Mega Talk/Gigs XS at a price of R799 with 24 months of installments, or R549 with 36 months of installments.

Meanwhile, the home services marketplace includes professional services like accountants, tutors, and “GIG” workers while a new Care solution for customers has been introduced to allow them to donate cash or eBucks to worthy causes in under 60 seconds.

For a long time, the most complicated part of the mobile banking experience was figuring out how to securely send money to loved ones. These days, though, more complex experiences – and more of them – are just the surface glitter on a new age of mobile application-based banking. The potential for confusion is accelerating, not least as new names wade into financial solutions.

Until the last year or so, you really didn’t need to think about how or where you were finding your next plumber, or how you were going to list your 1998 Opel Corsa, the yellow pages worked simply fine. In fact, banks usually didn’t want to talk about it or who they’d be keen to collaborate with for fully integrated solutions. Now, bank owned and backed marketplaces are the norm.

Ghana Msibi, WesBank Motor CEO, says, “The expansion of nav» Marketplace to include the Car peer-to-peer marketplace, is our way of looking holistically at the journey of vehicle owners and buyers, and we’ve identified contextual and simplified solutions for our customers. Through nav» Car, we’ve already renewed and delivered over 70 000 license discs during the pandemic, helped customers pay over 200 000 fines on the go, and loaded nearly 700 000 cars in our digital garage.”

In the future, the marketplace will ramp up to include WesBank’s trusted dealer network for a holistic car experience to benefit customers.

Jacques Celliers, FNB CEO says, “In addition to our existing lifestyle offering which includes Telco and Travel on the FNB App, the smart nav» tools demonstrate our commitment to delivering contextual innovations to our Retail and Commercial customers via our trusted digital platform.”

The Tiggo 4 Pro will be the first model to launch in South Africa, with deliveries to customers scheduled for late-November, shortly after the opening of the first 30 dealerships.

According to Chery’s press release, the Tiggo 4 Pro is the first ambassador of the modern Chery design language. It features a large grille with integrated LED headlamps and LED daytime running lights. The bonnet, front bumper, side profile, rear luggage door and rear lights are deeply sculpted, with the focus on sporty dynamism and a feeling of movement, even when stationary.

Depending on the specification level, the Chery Tiggo 4 Pro will be shod with 16” or 17” machined alloy wheels.

The Tiggo 4 Pro will be available with Chery’s next generation 1.5 litre petrol engines and a choice of two manual and a continuously variable transmission (CVT). Entry-level models will be fitted with the normally aspirated variant of this four-cylinder engine, sporting intelligent variable valve timing.

This engine is rated to deliver 85 kW and 141 Nm of torque. Power is delivered to the front wheels through a five-speed manual transmission or CVT. The turbo-version of the Tiggo 4 is equipped with Chery’s award-winning TCI turbo-charged engine. This turbo-petrol engine delivers a hearty 108 kW and 210 Nm of torque to the front wheels through either a six-speed manual transmission or CVT.

Step inside and you’re greeted by a dual-screen setup as a standard feature. Up front is either a 3.5-inch or 7-inch TFT full colour screen. In the centre console is a 10.25-inch capacitive touch screen that incorporates most of the vehicle control and is equipped – throughout the range – with Apple CarPlay and Android Auto, Bluetooth connectivity and a DVD player.

Chery is yet to announce trims, service plans and pricing details on the new models.

This follows the most recent reveal by the bank that its Retail and Commercial customers have activated approximately half-a-million Virtual Cards with spend exceeding R1 billion since January this year alone. Aitsa!

Jason Viljoen, FNB Head of Digital Payments says, “The expansion of our FNB Pay enabled suite of digital wallets for contactless transactions is crucial to helping customers minimise their reliance on cash and having their physical card on hand. Our Virtual Card support for such transactions means that customers get improved convenience and safety when they choose to use any of the FNB Pay enabled digital wallets.”

If you remember, the Virtual Card comes with a dynamic CVV number that changes regularly to minimise the risk of fraud. In addition to the afore mentioned Contactless payment features, customers can use their Virtual Cards for eCommerce purchases, streaming services, subscription payments and QR payments via Scan to Pay on the FNB App.

Power will be transmitted via a 8-speed tiptronic transmission or a 7-speed S tronic.

The front of the A3 is dominated by a large Single frame grille with honeycomb grille flanked by striking headlights. Available Matrix LED technology is offered for the headlights, which also house new digital running lights.

The A3 has a digital instrument cluster with a central MMI touch display inclined towards the driver. The measures 10.1-inches diagonal and has standard handwriting detection along with natural language control.

The digital instrument cluster is 10.25-inch and is included in the basic model. Audi virtual cockpit plus versions have a 12.3-inch screen that offers three different views. The car is also fitted with a head-up display projecting important information onto the windshield directly into the driver’s field of view.

An upgraded suspension is offered with adaptive damper control that lowers the body by 10mm. Each of those dampers adapts to road conditions. The sport suspension is standard for models with S line exterior and an option for other versions. Sport suspension and dampers lower the car by 15mm.

Audi has already started taking orders for the car with the first deliveries starting this Sunday, 1 August 2021.

2021 Hyundai Kona

For the petrol powered 2021 Kona, the changes for the new model year kick off with a makeover of the external design. There’s a new fascia, with bolder cladding and stronger lines, while the bonnet has been stretched to overlap more with the front grille.

LED daytime running lamps have been added, while underneath the grille the bumper now links with the front cladding. Hyundai have made the crossover 1.6-inches longer, too, to give it more visual heft, while the skid plate elements now match the lower door trim. At the rear, there are new taillamps and a new fascia in a contrast finish. Hyundai has also refreshed its alloy wheel options.

Under the bonnet, there’s a choice of two engines. The entry-model Kona gets a 2.0-liter 4-cylinder Atkinson engine, with 110kW and 180Nm worth of torque. It’s paired with a variable transmission. Available on the higher trims is a 1.6-lite 4-cylinder turbocharged engine, with 146kW and 265Nm. It’s paired with a seven-speed dual-clutch transmission.

Inside, like the exterior there’s more of a focus on rugged styling. The new console features a floating display on top, and there’s new ambient lighting and aluminium-effect trim. An electronic parking brake is an option, while the longer length adds rear legroom and cargo space. Those in the back also get USB ports now, too.

A 10.25-inch infotainment touchscreen is available, supporting multiple Bluetooth connections along with voice control over AC, multimedia, rear window and side mirror heating, steering wheel heating, and more. Wireless Android Auto and Apple CarPlay are supported. There was no word on Hyundai’s Digital Key system.

Adaptive cruise control is offered, plus Highway Drive Assist which combines that with lane-keeping. Forward collision avoidance assistance with pedestrian and cyclist detection is also available, along with rear cross traffic collision avoidance assistance. Lane following assistance and blind spot collision avoidance assistance are also available.

2021 Hyundai Kona N Line

New for the Kona N Line is a sportier version of the crossover. It gets the turbo engine as standard, but also throws on a style pack. That includes a new front bumper which links with the body-colour wheel arch cladding, while the skid plate design is swapped for an N design aero lip with corner fins. There are special mesh features, too.

N Line 18-inch alloys with a special design are standard, as is a larger, central aero diffuser in contrast finish at the rear. Dual exhaust tips and rear bumper edge strakes are used. Inside, there’s a special N Line colour package, with black seats using red contrast stitching, plus a black headliner, metal pedals, and N Logos on the seat, steering wheel, and shift lever. A 10.25-inch digital cluster and matching 10.25-inch infotainment touchscreen are available.

Pricing for the new Hyundai Kona starts at R449 900 for the 2.0 Executive IVT and R499 900 for the 1.6 TGDI Executive DCT while the 1.6 TGDI N Line DCT is priced from R579 900.

The engine under the bonnet makes 121kW of power and 213Nm of torque on petrol. Every car across the range comes standard with high grade features such as LED Headlamps with Auto levelling; Driver, Passenger, Knee (Driver), Side & Curtain airbags and Head-Up Display (HUD).

The engine is paired with a six-speed automatic transmission with sport mode. The vehicle also features an 8.8-inch centre display with the latest Mazda Connect system featuring Apple CarPlay and Android Auto.

Advanced keyless entry, eight-speaker sound system, dual USB audio inputs, dual-zone automatic climate control, rear air conditioning vents, electric parking brake, Bose 12-speaker audio system, a rear-view camera, and rain-sensing wipers are all included as standard on Individual models.

The Individual package adds new safety features and more. The base 2.0 is R469 000. There are eight premium paint colours offered.

Each of those limited-edition vehicles will have a Shelby CSM number and will be documented in the official Shelby American Registry. Other owner benefits with the 100 limited models include entry into Team Shelby, a donation to the Carroll Shelby Foundation, and more. Other options include a popular wide-body package and a First 15 package.

The biggest change for the Shelby GT500SE is an additional 40 hp from the supercharged V-8 engine. The car also gets a fully functional dry carbon fiber bonnet, new wheels, tires, suspension tuning, interior upgrades, new badges, stripes, and more. The extra 40 hp is massaged out of the 5.2-liter V-8 engine thanks to a new pulley and coolers for the supercharger.

The car is lowered and features more track-focused springs to make it handle better.

All Shelby conversions and upgrades are done at the official Mod Shop in the Western Cape by a team of technicians trained by Shelby American in limited numbers, three to be exact.

The Carroll Shelby Signature Series is priced at R2 708 000, including base vehicle. Pricing is subject to exchange rate fluctuations.

The first two iPhone 12 devices revealed today where the iPhone 12 and the iPhone 12 mini. The larger of the two devices is priced starting at R18 999 (64GB). The iPhone 12 mini has a starting price of R15 999 (64GB).

In case you forgot, both devices come in new colours – black, white, red, a new green, blue, and 5G. Both devices have Super Retina XDR displays, both work with the new MagSafe charging system. Both devices have Face ID, the ability to record videos at 4K and 60 fps, and both have IP68 water and dust resistance. The larger of the devices has a 6.1-inch display, the smaller has a 5.4-inch display.

Then there’s the larger pair of iPhone devices, with more impressive cameras and features aplenty. iPhone 12 Pro will be released in two iterations, one iPhone 12 Pro, one iPhone Pro Max. The iPhone 12 Pro will be released for a R23 499 starting price (128GB), while the iPhone 12 Pro Max price is R25 999 (128GB).

Apple announced the release of these devices on October 13, 2020. iPhone 12 is already available for pre-order. That includes the iPhone 12 and the iPhone 12 Pro, iPhone 12 Pro Max and the iPhone 12 mini and they’ll all be released on 18 December 2020. Talk about last minute Christmas shopping.