Old Mutual Group Old Mutual On The Money

What You Need to Know about Debt Collection

Loading player...
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. 

Thanks for listening! Interested in getting more financial education? Visit our website for free resources. You can follow us on X, Facebook, Instagram, TikTok, and YouTube.
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

Other recent episodes

Polygamist Musa Mseleku on Balancing Family and Finances

Join Mr. Musa Mseleku and Old Mutual’s Head of Financial Education, John Manyike, as they talk about finances and family. From how Mr. Musa Mseleku learnt to handle money, taking care of his growing family, his streams of income, and protecting his loved ones' future. Listen to this candid podcast…
7 Sep 2022 41 min

Kwesta and Sibu Mabena Discuss Finances & the Relationship between Artists and Managers

South African rapper and songwriter Kwesta, and his manager, Sibu Mabena, chatted with Head of Financial Education John Manyike about their relationship as artist and manager. Catch this candid discussion about the music and money, learning curves coupled with industry wins and lessons. Thanks for listening! Interested in getting more…
21 Sep 2022 43 min
All episodes