Our Mission

To help our clients on the way to financial freedom and responsibility.

Our History – and how we operate

Tshelete Thuso has been in existence since 1994. For 29 years we have served our clients with pride and dignity.

We started off in the Southdale shopping Centre and that office is still operational in its original location.

Our Midrand branch opened soon afterwards, in Midrand City.

This was the early days of Cash Loans and at that time you could find a cash loan facility on every corner. There were over 30 cash loans in the Midrand CBD, at one point.

We were one of the founder members of the MFSA that started to regulate the industry. In early 2000, the credit regulator came into effect and a lot of bad apples fell away. We did not hesitate to register with the regulator and comply with the rules of the NCR.

We were one of the first companies to implement the Nu-pay system to collect payment from our clients. For our clients’ convenience, we also use the Real-Pay system.

Our clients are our most important asset and we consider them before we make any business decisions. Our clients are a lot more than just numbers. We have a massive client base who supports us and who we are very thankful to.

Even with massive competition from the large banks, we still manage to grow our business.

Our simple concept is putting our clients first. Help – but stick to the rules of the NCR and don’t allow people to exceed the debt that they can manage to pay for.

We are unique in the sense that we only do payday advance loans. Our clients have a range of options regarding how they want the money paid out to them. We recognize each client’s unique requirements, putting our clients first.

We embarked on a strategy to expand our business model to other areas where there is a need for professional services with the human touch. 

1. What is your loan term?

We only do payday advance loans, 30 day cash loans.

2. What do I need to apply?

• Id Book
• 90 Days Bank statements
• Latest pay slip
• Need to be employed longer than six months permanent.
  
  

3. What if I have a bad credit record?

You can still apply and we will calculate the risk factors.

4. Can I borrow money if I am under debt review or Administration?

No. You are not allowed by law to borrow money and your debt councilor or administrator should have informed you about it.

5. Do you use credit checks?

Yes. We do credit checks and we also submit our data to credit bureaus and the NLR.

6. How do I Have to pay back?

If you visit one  of our offices we swipe your card  to create a future debit that you need to approve with your card pin number.

If you a online client we use a system called debicheck.  We create a payment and you have to approve it via your bank app, internet banking very similar to online purchases.

Both these payment methods are for the clients peace of mind to prevent fraud and impersonation by imposters.

7. What is your interest rate?

On a first loan the interest rate is 5% and there after 3%.

But there are some other fees as well and the amount of days also affects the total cost.

A good average to work on for the total cost is 23%.

8. What the maximum amount I can borrow?

We look at your affordability before we can assist you. If you have less than R1000.00 disposable income, we cannot assist you. We require you to be honest in completing your affordability so we can assist you in a positive manner; we don’t want to over in debt you as our client.

9. How long does it take to get a loan?

30 minutes.

10. How is the money paid ?

If you visit an office we have a card that we pay the money into for your safety. It’s a Standard bank debit card that you can use anywhere, at any time. You can draw cash and swipe at all pay points.  The Card is pin-based and you can choose the pin of your choice.

When you apply online your money will be paid out into the account that you use to authorize the Debicheck transaction.

Something to think about.

1. BUDGET BUDGET. Know what you earn, what you will need to pay for, and what is left to allocate to what you want to buy – (even if it might take several months of saving for). The money that you save on avoiding interest on debt will help to pay for other things later. Try this Budget Planner. 
   
   
2. Don’t solve short term cash flow problems with long term loans. The longer the term of the loan the more interest, so the more you are going to pay back. 
   
   
3. Think twice before you approach somebody for a reconciliation loan – you can end up paying a lot more. 
   
   
4. The best way to save is to pay off debt. If you pay a little extra on your bond you can cut the period down by years and end up saving a lot of interest payments. 
   
   
5. Always be responsible when you consider entering into a debt agreement. Think it through. Make sure you can afford it. Be honest with yourself. 
   
   
6. When entering into debt, use it positively for things that you really need and not just for things you want but could live without. 
   
   
7. No need to save money on the one hand but borrow at much higher rates to afford the saving on the other hand. 
   
   
8. Never borrow money to impress others. YOU are responsible for the repayments. 
   
   
9. Ask advice.

Are you under debt review or have you applied for debt review?

 

YES               NO