A Financial Terms

Administration Order

Legal

An administration order is a court arrangement for people whose total debts don't exceed R50,000. The court appoints an administrator to manage your r...

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Adverse Listing

Credit

A mark on your credit report showing you've missed payments, defaulted, or ignored a judgment. Stays for 1-5 years depending on what it is. One advers...

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Affordability Assessment

Loans

The NCA requires lenders to check whether you can actually afford to repay a loan before they hand over the moola. They look at your income, your exis...

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Annual Percentage Rate (APR)

Loans

The total yearly cost of borrowing expressed as a percentage. It's basically the interest rate plus fees and charges bundled together — that's the rea...

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Arrears

Loans

When you miss a loan repayment, you go into arrears. Simple as that. The bank sends demand letters, it tanks your credit score, and if you keep missin...

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