A Fin24 reader currently under debt review wants to know if it is possible to get a loan. She writes: I’m under debt review; is it possible to get a loan? Neil Roets, founder and CEO of Debt Rescue, responds: Debt counselling is a process whereby an over-indebted person repays their debt in a manner that is… Continued
Suid-Afrikaners is in ’n skuldsmoorgreep. Volgens die Experian South Africa’s Consumer Default Index beloop verbruikerskuld tans R1,9 biljoen (“trillion”), terwyl Trading Economics berig dat ons skuld-tot-inkomste-koers ’n astronomiese 77% beloop. Volgens DebtBusters, een van die land se grootste skuldberadingsgroepe, betaal mense wat aansoek doen vir skuldberading en meer as R20 000 per maand verdien, meer… Continued
Extraordinary increases could be the final straw for many MANY Durban residents cracking under immense financial pressure because of salary reductions and job losses since the start of Covid face “consumer carnage” as a slew of increases came into effect on Thursday. Late yesterday, eThekwini Municipality spokesperson Mandla Nsele confirmed the city would extend its… Continued
Most South Africans want to save for their retirement, but the reality for many middle-income earners is that once they’ve paid for essentials most of what’s left is spent on repaying debt, says Benay Sager, head of DebtBusters. Sager said that debt repayments now make up a substantial portion of what consumers need to spend,… Continued
As if there were not enough headaches to contend with already – think the revised adjusted lockdown level 4, extraordinary icy conditions, intermittent load-shedding, rising CPI and renewed job losses in the hospitality, alcohol and restaurant industries – South Africans will need to brace themselves for more bad news. This as utility and fuel prices… Continued
A growing number of South Africans are using credit to purchases basic necessities such as groceries, says Debt Rescue chief executive Neil Roets. Roets told CapeTalk that this issue has grown in recent months due to the country’s high unemployment rate, combined with the rising cost of food. “The fact that you are buying things like normal… Continued
Buying food on credit is symptomatic of a bigger problem. Consumers who have experienced a change in their financial standing, either through retrenchments or pay cuts, are in trouble and taking on more expensive debt is only going to make it worse. On 1 June, StatsSA announced that the country’s unemployment rate has continued to worsen, hitting… Continued
19 million credit- active citizens appear to be in financial duress. Inquiries about debt counselling have increased as more than 19 million credit-active South Africans appeared to be over-indebted and the official unemployment rate reached a record high of 32.6% in the first quarter of 2021. Statistics released earlier this year by the SA Human… Continued
By Dominique Bowen A year on from the first hard lockdown, the TransUnion Consumer Pulse survey for the first quarter 2021 offers some promising insights for South Africans: 76% of the respondents said they were optimistic about the future, and more than half felt confident their household finances would recover within the next 12 months.… Continued
A YEAR on from the first hard lock- down, the TransUnion Consumer Pulse survey for the first quarter of 2021 offers some promising insights for South Africans: 76% of the respondents said they were optimistic about the future, and more than half felt confident their household finances would recover within the next 12 months. However,… Continued
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