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The latest data from the National Credit Regulator (NCR) shows that South African consumer debt has increased to R1.63 trillion in the second quarter of the year. Worryingly, despite a majority of credit active consumers are in good standing with debt payments, almost 45% are struggling to meet their repayments. According to data from debt… Continued

The Department of Energy is expected to announce a decline in the petrol price of 70 cents a litre on Friday. The predicted decline in the fuel price, along with a decrease in the price of diesel of around 50 cents a litre, will substantially benefit deeply indebted consumers, said debt management company, Debt Rescue.… Continued

The average South African has net assets of US$11,040 (R137,000) at the end of 2014, according to data from New World Wealth. Net assets, or your net worth, includes everything you own of significance held against your debts. NWW said that for the purpose of it’s research, net assets exclude the value of an individual’s… Continued

Eskom recently made an urgent application to the National Energy Regulator of South Africa (Nersa) to increase the electricity tariff by 25.3% for the 2015/2016 financial year. Neil Roets, CEO of debt counselling firm Debt Rescue, warned that these price increases will plunge large numbers of consumers and business into debt. Eskom’s planned price increase… Continued

Eskom’s greed will plunge large numbers of consumers and business into debt according to an economist and a debt expert. Last week Eskom made an urgent application to the National Energy Regulator of South Africa (Nersa) to increase the electricity tariff by 25.3% for the 2015/2016 financial year. This includes the 12.69% price increase that… Continued

Fuel and electricity price increases may drive country into recession, according to economist, Dawie Roodt. The R1.62 a litre increase in the price of 95 octane fuel together with the 14.25% increase in electricity tariffs for municipal users could drive South Africa into a full-blown recession. Roodt said this was the largest fuel increase in… Continued

With the likelihood of a massive petrol price hike in April, how much longer can South Africans keep stretching their budgets before reaching breaking point? Earlier this month, the SA Human Rights Commission (SAHRC) noted that, of 19 million credit-active consumers in South Africa, 50% had impaired credit records three months or more in arrears.… Continued

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