Consumers, retailers face a tough 2021 as personal debt spirals

Durban – SOUTH African consumers are financially stressed and defaulting on their debt repayments due to retrenchments, and the situation is likely to worsen before it improves despite anticipated economic growth in 2021. Economists and debt counsellors yesterday said many consumers were struggling to repay their debts as credit providers now aggressively pursue collections following […]

CONSUMERS STRUGGLE TO REPAY DEBT

SOUTH African consumers are financially stressed and defaulting on their debt repayments due to retrenchments and the situation is likely to worsen before it improves despite anticipated economic growth next year.