Chris Fick & Associates

Welcome to this month’s coffee chat.

During lockdown many of us, many of our friends, family and colleagues, experienced financial strain which nobody expected. Debt review or debt management became a reality or real possibility for many.

Earlier this month a young client, mid 30s, came to us for advice. He was placed under debt review and half way into that process his financial situation has improved considerably. He now wants to relocate his family from Khayelitsha, buy a small house and a car. However, when he approached the debt counsellor he was told to pay a fee of R6 000 to be released from debt management or pay off all his debt in one go – which is not possible for him at this stage. Although he can afford the instalments, he is still blacklisted.

With the introduction of the National Credit Act it became possible to grant relief to consumers who were over indebted. A few years later it would seem that they can’t get out of debt review in spite of their improved financial position. Not unless they pay off all their creditors up to the last one. In the last week we have been approached by 3 more clients who are in need of legal assistance to get out of debt review without paying a punitive fee, which has not been explained to them. Our colleague, Odwa Ndesi, is exploring the options open to these clients. If you know of someone who is facing the same predicament, suggest to them to contact Odwa at 021-424 3937 or

In conclusion, a story I received from a longstanding Rotary friend, Dennis Figov, a while ago.

If you have ever worked for a boss who reacts before getting the facts and thinking things through, you will enjoy this!

Arcelor-Mittal Steel, feeling it was time for a shakeup, hired a new CEO. The new boss was determined to rid the company of all slackers. On a tour of the facilities, the CEO noticed a guy leaning against a wall. The room was full of workers and he wanted to let them know that he meant business. He asked the guy, “How much money do you make a week?” A little surprised, the young man looked at him and said, “I make $400 a week … Why?” The CEO said, “Wait right here. He walked back to his office, came back in two minutes, and handed the guy $1,600 in cash and said, “Here’s four weeks’ pay. Now GET OUT and do not come back. Feeling pretty good about himself the CEO looked around the room and asked, “Does anyone want to tell me what that goof-ball did here?”
From across the room a voice said, “Pizza delivery guy from Domino’s.”

Until next time

Chris Fick and team

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