A recently dismissed Fin24 reader has received a payment for R70 000. Seeking expert advice on how to manage his debt, he wrote: I was 28 years old and was fired. My takeaway package is R70000. I have an unpaid student loan for R19000. I have two credit cards. One has the balance of R4000… Continued
Risks consumers could face because of the ANC’s internal war Already cash-strapped consumers could ultimately bear the brunt of the ANC’s internal war, cautioned chief economist at Efficient Group Dawie Roodt. This follows contradictory remarks from the ANC’s top brass on the expansion of the SA Reserve Bank’s mandate. It also comes at the same… Continued
Prescribed debt Debt expert Neil Roets answers questions about prescribed debt posted on Fin24. Read the question and answer below. Question “Who do I contact to remove prescribed debt? The credit bureaus, a lawyer or the creditor? Expert answer Afternoon, Thank you for allowing me to assist with your question. You’re faced with quite a… Continued
Over-indebted consumers struggling to make ends meet Overspending over Black Friday, Cyber Monday and the Christmas holidays will have “severely negative consequences” for over-indebted consumers, a debt counselling expert has said. Acknowledging the brief relief brought from the decrease in fuel prices in December and now January, CEO of Debt Rescue Neil Roets also pointed… Continued
Consumers will be faced with higher travelling costs and the possibility of food price inflation as a result of the fuel price hikes which came into effect at midnight of Tuesday, economists have warned. The inland price for a litre of 95 octane unleaded petrol will cost R16.02 from Wednesday. The coastal price will be… Continued
Correction: This article has been amended to clarify that the R1bn refers to the total credit facility made available by Pick n Pay for cards. It does not refer to credit already taken up by customers, as Fin24 wrote in a previous version of this article. Johannesburg – Pick n Pay says it has granted R1bn… Continued
Cape Town – Consumers are in for a very rough ride in 2017, Neil Roets, CEO of Debt Rescue, cautioned on Friday. He warned that 2017 was going to be a tough year and consumers who had difficulty making ends meet in 2016 were going to find it much harder in the New Year. He… Continued
Fears of a full-scale recession, electricity hikes and debt forgiveness plans are some of the hot business news stories on Fin24. Gross domestic product contracted 0.7% for the first quarter of 2017, indicating that the country has entered into a technical recession, according to deputy director general of Economic Statistics at Statistics South Africa (Stats… Continued
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… Continued
Cape Town – While motorists can expect a further drop of 60 cents in the petrol price next month, the country is still in a technical recession and the price could increase in months ahead, warned a debt expert. The Automobile Association (AA) expects a petrol price decline of between 60c and 64c a litre in… Continued
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