Fin24


The industry’s top experts offer their best advice, research, how-to’s, and insights

Cape Town – Proposed changes in court rules, that will make it impossible for creditors to sell the homes of defaulters for a pittance, would greatly alleviate the suffering of deeply indebted SA consumers, said Neil Roets, CEO of Debt Rescue. Roets said it had become common practice, especially for banks, to sell off property… Continued

Cape Town – An expected huge hike in the price of petrol will have profoundly negative consequences for deeply indebted consumers, an expert said on Tuesday. Fin24 reported that petrol could increase by as much as 32c per litre (c/l), according to data from the Automobile Association of South Africa (AA). Petrol is showing a… Continued

Cape Town -There has been a sharp increase in the number of deeply indebted consumers seeking help in the form of debt review following the introduction of toll fees. Debt Rescue CEO Neil Roets said the last two weeks had seen nearly double the number of clients seeking help compared to the same period last… Continued

Cape Town – While South Africans will be counting down the hours to celebrate the New Year, many will also have to fork out more for petrol. Efficient Group economist Dawie Roodt told Fin24 that he expected the petrol price to increase by between 30c and 49c a litre (c/l) in January. This is largely… Continued

Cape Town – The petrol increase is the final nail in the coffin for consumers following the activation of e-tolls and a warning of a possible taxi fare hike, according to experts. The price of both grades of petrol increased by 17 cents a litre (c/l) and diesel by 10.12 c/l at midnight on Tuesday… Continued

Johannesburg – It is very important for banks, and especially banks who operated in the unsecured lending space, to educate users of their financial products in order to mitigate the escalating debt crisis. Speaking at the FinScope South Africa 2013 presentation in Johannesburg, Neil Roets, CEO of Debt Rescue said it was clearly evident from… Continued

Cape Town – Four key reports have found that South Africa’s consumers are in for a rough ride, which is going to translate into more consumers falling ever deeper into the debt trap. Neil Roets, CEO of debt counselling firm Debt Rescue, said reports by the International Monetary Fund (IMF), the World Bank, the South… Continued

The imminent implementation of e-tolling is going to have a greater than expected effect on deeply indebted consumers and is going to force many middle class South Africans back into poverty, according to Neil Roets, CEO of Debt Rescue. Low income groups are bearing the brunt of the slowdown in the economy and with more… Continued

Cape Town – The projected decrease in the price of petrol of between 19 and 25 cents a litre predicted by economist Dawie Roodt should not serve as an incentive for consumers to go out and spend money they don’t have. Roodt said depending on the price of crude oil and the Rand US Dollar… Continued

Johannesburg – The agreement by cabinet to implement a credit amnesty brings South Africa one step closer to a major crisis in the credit industry, according to Neil Roets, CEO of national debt counselling firm, Debt Rescue. The credit amnesty will see credit bureaus removing adverse credit information, especially on consumers who have paid their… Continued

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