Reserve Bank hikes interest rates amid global supply shocks

Neil Roets, CEO of Debt Rescue, said the increase comes at a particularlydifficult time for households already battling to afford basic essentials. “In the face of the expected October petrol and diesel price increases,driven by renewed global energy market instability and disruptions to oilsupply, which will impact transport, distribution and food prices, worseninginflationary pressures – […]

Feeling the financial squeeze? Start taking control now

Debt Rescue CEO Neil Roets warns that simply stopping payments is not asolution either. “This will lead to rapid legal action, potential assetrepossession and skyrocketing legal fees,” he says. He also cautions against borrowing from unverified informal lenders tocover daily shortfalls, as this can deepen the debt spiral. “It’s not always the big bills that […]

Economic fire — interest rate adjustment makes for interesting braaichat

“Millions of South Africans who are already battling to afford the basicessentials are reeling from the news,” Neil Roets, CEO of Debt Rescue, wrotein his statement on the decision. “The rate hike itself is just the tip of the iceberg. Higher borrowing costsaffect households directly, but they also flow through to small businesses –a critical […]