MyMoney Online, Make Money Mondays

Drowning in debt? Credit Ombud (tasked with enforcing fairness) gives advice

The Money Show's Bruce Whitfield interviewed Credit Ombud Nicky Lala-Mohan – our ally – about current red flags for his weekly “Make Money Mondays” feature.

Scroll down for quotes from the audio below.

There are more interest rate hikes coming this year.

Nicky Lala-Mohan, Credit Ombud

76% of South Africans are broke at the end of the month.

Nicky Lala-Mohan, Credit Ombud

You may not collect a debt after three years…

Nicky Lala-Mohan, Credit Ombud

Some credit providers in the micro-lending space stand out as being worse than most. But we don't name and shame.

Nicky Lala-Mohan, Credit Ombud

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
How to create more time (and how to spend it wisely)

How to create more time (and how to spend it wisely)

Make no mistake; strategizing to grow your business takes time. Yet, few business owners seem to have enough of it.

Some investments are more attractive after Budget 2017 (some not so much)

Some investments are more attractive after Budget 2017 (some not so much)

Personal Financial Advisor Warren Ingram gives advice on where to put your money; considering changes brought by Budget 2017.

Cricket SA guns for international superstars to play in new #T20 Global League

Cricket SA guns for international superstars to play in new #T20 Global League

Best. News. EVER! South Africa is getting its own global T20 league. Bruce Whitfield interviews Cricket SA CEO Haroon Lorgat.

Credit insurance pays your debts upon death (so your estate remains unburdened)

Credit insurance pays your debts upon death (so your estate remains unburdened)

Learn more about credit insurance – i.e. life insurance that pays off a borrower’s debts in the event of death.

How credit worthy are you? A guide to credit bureau reports…

How credit worthy are you? A guide to credit bureau reports…

A legal advisor at the credit ombud’s office on all you need to know about credit bureau reports (e.g. it’s free once a year).

Got a problem with a credit provider? How to resolve it free of charge...

Got a problem with a credit provider? How to resolve it free of charge...

We interviewed Credit Ombud Nicky Lala Mohan about what he does and how to resolve a credit issue free of charge.

Popular articles
I have suffered backlash from white people (and black people) - Kasi Mlungu

I have suffered backlash from white people (and black people) - Kasi Mlungu

Anita Ronge, famously known as Kasi Mlungu, talks music career, race and township lifestyle with Eusebius McKaiser.

Vaal Dam levels increase by 5.2%

Vaal Dam levels increase by 5.2%

Department of Water and Sanitation says recent rains have increased the Vaal Dam levels but more is still needed.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

How to be happier (and more fulfilled) at your job (whatever it is)

How to be happier (and more fulfilled) at your job (whatever it is)

Bruce Whitfield interviews Debbie Goodman-Bhyat, author of “INtheFLOW – Taking Mindfulness to Work”.

Right now, these are the best shares to buy on the JSE (according to Adviceworx)

Right now, these are the best shares to buy on the JSE (according to Adviceworx)

Bruce Whitfield interviews a Portfolio Manager about what she believes are the hottest stocks right now.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?

5 ways the NSFAS funding model will change in 2017

5 ways the NSFAS funding model will change in 2017

The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explains.