Old Mutual Group Old Mutual On The Money

What You Need to Know about Debt Collection

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There are a few calls we can look forward to in our day but calls from debt collectors don’t make the favourites list. Our Head of Financial Education, John Manyike, sat down with lawyer and debt expert Timmy van der Grijp as he shares some useful facts and information around types of debt, our responsibilities and rights as consumers regarding debt. 

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Chapters
  • 00:05 Introduction to our guest speaker, Timmy van der Grijp
  • 01:28 Timmy shares his views on debt collection in South Africa
  • 05:30 Are there rules that govern the conduct of debt collectors?
  • 09:25 What is prescribed debt and how does it work in South Africa?
  • 14:24 What does "in duplum" mean, and where does it come from?
  • 18:01 What is the purpose of credit bureaus?
  • 20:45 What is a credit score and what is the purpose of having a credit score?
  • 22:58 What influences your credit score?
  • 27:24 What is the purpose of debt counselling or debt review?
  • 31:53 How debt counselling actually works
  • 35:50 What are the advantages and disadvantages of debt consolidation?
  • 37:46 What is reckless lending?
21 Nov 2022 English South Africa Education

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