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Cape Town – Consumers are fighting a losing battle against the rising cost of living amid a barrage of bleak economic indicators. South Africa is in a technical recession, its unemployment rate is on a 14-year high, it has suffered junk status gradings by two ratings agencies and on top of that, it faces potential […]

Cape Town – Government’s intention to implement a debt forgiveness programme for over-indebted households poses a major threat to the financial sector, according to Neil Roets, CEO of debt management company Debt Rescue. In a discussion document presented to Parliament, MacDonald Netshitenzhe, acting deputy director general at the consumer and corporate division of the Department […]

Cape Town – Debt is so terribly easy to incur – and so terribly difficult to get rid of. With South Africans said to be the biggest borrowers in the world, just about every single person needs to take a look at these debt-busting tips from Neil Roets, the CEO of Debt Rescue. While these […]

The continuous drought, the likelihood of an electricity price hike and the probability of a tax increase early this year is going to squeeze consumers to the maximum, according to Neil Roets of Debt Rescue. He said the depreciation of the rand will increase the woes of severely strained consumers during the early part of […]

South African consumers will probably continue to face stricter lending regulations by banks following the SA Reserve Bank’s (Sarb) decision to increase the repo rate by 25 basis points to six percent. Interest rates effectively increased to 9.5 percent per annum. Gary Palmer, chief executive of Paragon Lending Solutions, said: “An interest rate hike has […]

Granting Eskom’s request to hike the price of electricity by a further 12.61 percent would have a “devastating” effect on the South African economy, analysts have warned. This comes as the National Energy Regulator of South Africa (Nersa) revealed it would decide by the end of this week whether to grant the embattled power utility […]

The changes to the act means that if a consumer had not acknowledged a debt for more than three consecutive years, either verbally or in writing, the debt is considered prescribed and has effectively lapsed. Neil Roets, CEO of debt management company Debt Rescue said consumers should note that if they have made any payments […]

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