Spring is now upon us and thousands of consumers will start looking into opening new accounts to stock their cupboards with the latest in-season fashion trends and possibly sign up at a gym to get into shape. “Opening new store accounts may look like an easy option to get all the new clothes you desire, but entering into such contracts is a long term decision and consumers have to think very carefully before signing on the dotted line”, says Credit Ombud, Nicky Lala Mohan.
The office of the Credit Ombud has dealt with thousands of complaints where consumers have ended up with adverse listings at the credit bureau or have ended up being handed over for debt collection – simply because they did not pay the accounts in accordance with the terms and conditions of the agreements they signed. This has prompted new amendments to consumer affordability assessments.
This week on The Business Buzz, we unpack the new amendments to Credit affordability assessments in a discussion with the Legal Advisor at the Credit Ombud’s Office, Avitha Nofal.
“In our Business Wrap”, Financial Advisor Ken Swettenham shares the five things that students should remember when saving or investing.
“For our 60 second corporate sell”, The Graduate Recruitment Manager at Nedbank Group Limited, Amos Kova, tells us about all the wonderful opportunities that Nedbank has for graduates.
Our “Rant ‘n Rave” for the week is an internal corporate entrepreneur who tells us what he loves and hates about his job.
THE BUSINESS BUZZ. THURSDAYS 6-7PM
Tune into 88.1FM or stream on www.vowfm.co.za
The Business Buzz is presented and produced by Tsholofelo Semenya .
Executive Producer: Khanyisile Molaba
Co-Executive Producer: Thando Nkwane