The Witness


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

Judgment to benefit the poor Siseko Njobeni THE CONSTITUTIONAL Court judgment on garnishee orders was likely to reduce the risk appetite of lenders and could see “risky” individuals struggle to obtain finance, Fincheck chief executive, Mi­chael Bowren said yesterday On Tuesday the court ruled that aspects of the enforcement of garnishee orders were un­constitutional. Various… Continued

Cape Town – There are thousands of debt collectors and attorneys demanding and collecting money from people even though the amount owed is prescribed. Debt Counsellors Association of SA (DCASA) president Paul Slot said yesterday in terms of the Credit Act, creditors cannot demand payment if they have not contacted you in three years. Slot… Continued

DESPITE the practice being outlawed, reckless lending continues unabated – so much so that the National Consumer Tribunal (NCT) has received double the number of complaints. The tribunal dealt with 9 589 cases in 2014/15 and in the 2015/16 financial year this figure rocketed to 19 097. Over a three-year period, the tribunal’s case load… Continued

Unlike Newton’s law of gravity, what goes up, doesn’t always come down – especially when it comes to food prices. And seeing we’re in for tough times, changing your buying behaviour counts more than ever The barrage of bad news can be overwhelming: hikes in fuel prices, food and electricity; the drought; fluctuating rand; high… Continued

Johannesburg – Consumers are coming under increasing pressure as take-home pay starts to slow and food and fuel prices pressure inflation. This comes as more and more people are indebt, and growth in take-home salaries is slowing. The latest BankservAfrica Disposable Salaries Index (BDSI) shows that the growth in disposable salaries continues to slow, and… Continued

Johannesburg – Tough times lie ahead for hard-pressed South African consumers as fuel and electricity prices kick in this month. The Department of Energy on Friday announced increases in fuel prices, with effect from Wednesday. Petrol 95 and 93 will rise by 88c a litre and 86c a litre, respectively. Diesel 0.05 percent and 0.005… Continued

Johannesburg – A debt management firm is warning that an anticipated 85c to 95c a litre fuel price increase will “hit consumers like a ton of bricks”. This comes after a warning by the Institute for Race Relations that, should the rand and oil remain at current levels, motorists could expect a fuel price hike… Continued

Durban – The eThekwini Municipality has assured consumers it will limit the electricity tariff hike to the 9.4% increase granted to Eskom. City Treasurer, Krish Kumar has confirmed that, unlike other municipalities, eThekwini would not add further increases to the hike approved by the National Energy Regulator of South Africa (Nersa). “We are doing everything… Continued

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