The first thing I asked Durban personal assistant Sue Gardner when she told me that fraudsters had whipped almost R20 000 out of her bank account was: “Do you remember clicking on a link in an e-mail that you thought was sent by your bank?”
It’s the question I ask all those who approach me about the same predicament.
Imagine being smitten by a new car, signing an offer to buy it, paying a deposit, then being told seven months later that you’re still on the waiting list, and by the way, the same car is now about R50 000 more expensive.
That’s what’s happened to many who signed for the new A-Class Mercedes-Benz, thanks to the dramatically depreciating rand.
A longer contract may mean cheaper monthly repayments, but you’ll pay dearly if you opt to cancel early. The Consumer Protection Act (CPA) aimed to put an end to consumers being “locked into” contracts from which there was no escape for several years.
The first draft of the regulations gave consumers the right to escape any fixed contract, such as a cellphone, gym or home security contract – by giving 20 days’ written notice of cancellation at any time – and paying just 10 percent of the remaining subscriptions.