Panic-buying in SA causing consumers to fall further into debt

Almost half of credit consumers in SA are behind on payments Bad debt soars as people in South Africa are spending money they don’t have. After Cyril Ramaphosa announced a state of disaster, photos and videos of people clearing the shop shelves have gone viral. Debt Rescue was already preparing for a very busy year […]

Bad debt soars in South Africa

Almost half of 25.1 million credit consumers in SA are behind on payments Impairments by consumers and businesses at the country’s four big commercial banks have increased dramatically – in some categories by more than 70% – compared with the previous reporting period. This is evident from the latest financial results seasons for banks and […]

South Africans urged to spend wisely and not panic-buy

South Africans are urged to spend wisely and make sound financial decisions even with the uncertainty around the current global pandemic. Following the President of South Africa’s state of the nation address declaring a national state of disaster, people have been panic buying. Photos and videos have gone viral of South Africans panic buying at […]

Consumers urged to spend wisely

Debt Rescue Urges South Africans to make responsible financial decisions  NATIONAL NEWS – Debt Rescue SA has urged South Africans to make responsible financial decisions even with uncertainty around the COVID-19 global pandemic. Photos and videos have gone viral of South Africans panic buying at grocery shops this week. Thousands cleared shop shelves on Monday […]

Consumers warned not to overspend amid #Coronavirus panic

Do not overspend on panic-buying Debt Rescue CEO Neil Roets has warned consumers not to overspend on panic-buying items amid the outbreak of coronavirus in South Africa. President Cyril Ramaphosa announced a state of national disaster amid the growth in Covid-19 cases over the past two weeks. South Africa had 61 confirmed cases of coronavirus […]