Stay informed with the latest news and expert opinions from South Africa’s leading news agencies. Debt Rescue’s CEO Neil Roets and Debt Rescue’s COO, Annaline van der Poel, shares economic insights, explains how debt review can help over-indebted consumers, and valuable financial advice. From expert interviews to breaking news, this page brings you honest discussions about money, debt counselling, and actionable tips to help you take control of your debt.
Neil Roets, CEO of Debt Rescue, expressed deep concern over the current financial struggles faced by South Africans. High Borrowing Costs Impacting Basic Necessities Roets stressed that the high borrowing costs, the highest in over a decade, have left many South Africans struggling to afford basic necessities like food. Urgent Action Needed to Address Financial
South Africans are experiencing a deepening cost-of-living crisis, driven by the highest interest rates in over a decade. Concerns regarding Interest Rates Neil Roets, the CEO of Debt Rescue, shared his concerns about the impact on everyday people. “The extended steep interest rate has decimated the lives of South Africans from all walks of life,
As interest rates held steady last week, South Africans were disappointed that the Reserve Bank’s Monetary Policy Committee failed to bring much-needed relief to the economy. Rising Cost of Living Debt Rescue highlighted the challenges faced by families as the cost of living and inflation continue to rise, making it increasingly difficult to afford basic
Neil Roets, the chief executive of Debt Rescue, has noticed a troubling trend: more and more South Africans are seeking help with their debt. “With little relief in sight when it comes to living costs, this is likely to intensify as the year unfolds,” he says. Sky-High Interest Rates Roets said that one of the
Times have never been tougher for South African consumers, says Neil Roets, CEO of Debt Rescue. Low Savings Roets points out that South Africa has one of the lowest savings rates globally, with most people having little left in their bank accounts at the end of each month. The cost of petrol, high interest rates
Concern for Over-Indebted Consumers Neil Roets, the CEO of Debt Rescue, is deeply concerned about the recent municipal electricity tariff increases. He sees firsthand the struggles of over-indebted consumers and understands how this new burden will weigh heavily on them. “Many households already spend a significant portion of their income on utilities and this will
Filling up your vehicle with 95 Unleaded petrol will be 99 cents cheaper per litre and R1 cheaper if you fill up with 93 Unleaded petrol. Unfortunately, Neil Roets, CEO of Debt Rescue believes that this decrease will have no significant impact on South Africans pockets. Pressure on Household Finances Roets said.”Citizens can barely afford
The latest Debt Rescue survey paints a grim picture of South Africans struggling to make ends meet amid the cost-of-living crisis. With 46% of consumers going without basic necessities each month and a household debt-to-income ratio projected to reach 65% in 2024, millions are living hand to mouth, unable to afford enough food or electricity.
Neil Roets, CEO of Debt Rescue, highlighted that South Africa’s National Credit Act is one of the most advanced systems globally for assisting over-indebted consumers. Proactive Debt Repayment He explained, “It assists over-indebted consumers to not remain in that debt spiral but to take a proactive step in finding a way to repay the debt.
Economically, times are tough, and many people need to tighten their financial belts. Statistics South Africa recently announced that the economy declined in the first quarter of 2024. With Youth Month coming to a close, People’s Post spoke to Debt Rescue, who shared some practical financial tips for young people. Budgeting and Discipline for Students
