The National Credit Amendment Bill, signed into law by President Cyril Ramaphosa earlier this week, is not a mechanism to expunge debt for the over-indebted. Rather, it’s an instrument allowing the low-income market access to debt review at no cost. Once Gazetted, debt intervention will be accessible to a market that doesn’t qualify, or is… Continued
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Here’s how the government bailouts of SOEs will affect consumers Durban – The bailouts from government to various state-owned enterprises (SOEs) will have a significant effect on consumers, according to Debt Rescue’s Neil Roets. The funds required from government for such bailouts are enormous. Eskom has been granted an additional bailout of R59billion, but without… Continued
A number of South Africans are facing a ‘debt spiral’ as they battle with the cost of living in the country. Neil Roets, CEO of Debt Rescue, pointed to a 21% increase in applications for debt review in the first quarter of 2019 compared to the same period last year. “All of the main economic… Continued
Volgens ‘n onlangse peiling van Budget Insurance, sê meer as die helfte (52%) van Suid Afrikaners dat hulle wel vir ‘n noodgeval spaar terwyl net 19% vir 3 maande sal kan oorleef indien hulle sonder ‘n inkomste sal wees. Die enigste manier om die situasie te verbeter is deur werkskepping alhoewel dit nie tans lyk… 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
Petrol price could hit R20 before the end of the year Although the petrol price is ‘only’ expected to rise by about 7 cents a litre in June, the general economic outlook remains bleak. This is according to Dawie Roodt, chief economist at the Efficient Group, who said that consumer debt and unemployment are set… Continued
Consumers are in for a tough time Most consumers cut out luxuries from their spending some time ago. They will also have to start cutting on basic necessities just to stay alive. Although the petrol price is only expected to rise by about 7 cents a litre in June, with diesel likely to increase by… Continued
Consumers in for a very rough ride With the expected petrol price increase of 56 cents a litre just days away, debt-stressed consumers are going to have to cut unnecessary expenses. With the expected petrol price increase of 56 cents a litre just days away, debt-stressed consumers are going to have to cut unnecessary expenses… Continued
South Africans are going into debt just to buy food Many people are deep in debt and some are defaulting on payments and resorting to loans to feed themselves, in an ever-deeper spiral. Some people are taking loans just to buy food in ever greater numbers and tomorrow’s 54 cents a litre increase in the… Continued
South Africans are taking out debt for food Imagine taking out debt for food. This has become a horrid reality for South Africans. Many consumers are in debt in a floundering economy. Some are even taking out debt just to feed themselves and their families. The rising petrol price is affecting consumers even more. Motorists… Continued
We look forward to the opportunity to get you debt-free!
