Yes, you can get rid of bad debt

BY LETITIA WATSON Send suggestions for topics and requests for info to yourmoney@you.co.za. We may answer your questions in this column but won’t reply personally.

DEBT you’re not paying off or have fallen behind with – called bad debt – can cause a blemish on your credit record, preventing you from accessing new loans or renting property.

It can even have a negative effect on a job application. As you struggle to pay it off, it’s also likely to prevent you from saving. Many people think there’s nothing they can do to get rid of debt, but