If you have an account with TFG (The Foschini Group) in South Africa, you are already aware of how easy it is to shop at their many brands, including Foschini, Markham, Sportscene, TotalSports, and others. However, what would happen if you stopped making payments on your TFG account or fell behind?
1. Missed Payments = Immediate Interest and Penalties
As soon as you miss a payment, interest starts adding up on the outstanding balance. TFG usually charges interest in line with the National Credit Act, which means you’ll likely face up to max interest of around 24–27% annually, depending on your agreement. On top of that, late fees or service fees may be added monthly.
2. Your Credit Record Takes a Hit
TFG reports account activity to credit bureaus. That means:
- One or two late payments? Your credit score may drop slightly.
- More than 2 months behind? You’ll likely get flagged as in arrears.
- Beyond 3 months? Your account may be listed as in default, which is a major red flag to other creditors.
This affects your ability to apply for loans, cell phone contracts, car financing, or even renting a home.
3. Debt Collection Kicks In
If your account is unpaid for a while (usually around 3 months or more), TFG may hand it over to debt collectors or attorneys. This means:
- You’ll get calls, messages, and letters demanding payment.
- Additional collection fees and legal costs can be added to your account.
- It becomes harder to negotiate affordable payment terms once it reaches this stage.
4. Legal Action and Judgments
If debt collection efforts fail, TFG may take legal action. That can result in:
- A summons to appear in court.
- A default judgment against your name, which stays on your credit report for up to 5 years.
- In extreme cases, they may apply for a garnishee order, allowing them to deduct money directly from your salary.
5. Your Account Could Be Closed
TFG has the right to suspend or close your account if it remains unpaid. You won’t be able to use the credit facility again unless the full outstanding balance (plus fees and interest) is settled.
What Should You Do If You Can’t Pay?
If you’re struggling financially, the worst thing you can do is ignore the problem. Instead:
- Contact TFG customer service as soon as possible to explain your situation.
- Ask to arrange a payment plan or request a temporary payment holiday (if eligible).
- Consider speaking to a registered debt counsellor if you have multiple debts and are overwhelmed.
Final Thoughts
Falling behind on your TFG account is serious—but not hopeless. The sooner you act, the more control you’ll have over the situation. Remember, your credit score is one of your most valuable financial tools. Protect it by staying informed and proactive, even when times get tough.