In The Press

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

Almost half of 25.1 million credit consumers in SA are behind on payments Impairments by consumers and businesses at the country’s four big commercial banks have increased dramatically – in some categories by more than 70% – compared with the previous reporting period. This is evident from the latest financial results seasons for banks and… Continued

Debt Rescue Urges South Africans to make responsible financial decisions  NATIONAL NEWS – Debt Rescue SA has urged South Africans to make responsible financial decisions even with uncertainty around the COVID-19 global pandemic. Photos and videos have gone viral of South Africans panic buying at grocery shops this week. Thousands cleared shop shelves on Monday… Continued

Do not overspend on panic-buying Debt Rescue CEO Neil Roets has warned consumers not to overspend on panic-buying items amid the outbreak of coronavirus in South Africa. President Cyril Ramaphosa announced a state of national disaster amid the growth in Covid-19 cases over the past two weeks. South Africa had 61 confirmed cases of coronavirus… Continued

Cancellations to hit pockets in showbiz As more and more events get cancelled and postponed, the public is starting to feel the effects of the coronavirus. After President Cyril Ramaphosa’s official declaration of a national disaster, the organisers of a number of major events have announced their cancellations.  In light of the banning of large… Continued

Die Covid-19-pandemie is dalk net die spyker in die doodskis van die Suid-Afrikaanse ekonomie wat dit in ’n diep en langdurige resessie kan dompel. Vir skuldbelaaide Suid-Afrikaners hou die beperkende maatreëls wat ingestel is vir die bekamping van Covid-19 niks goeds in nie, waarsku Neil Roets, uitvoerende hoof van die skuldberadingsfirma Debt Rescue. Die ekonoom… Continued

“The average South African is worse off now than five years ago.” Durban – Unemployment is expected to worsen and already cash-strapped consumers will have to dig deeper into their pockets as South Africa’s economy went into a recession for the second time in two years. According to Statistics SA, load shedding was the number… Continued

LISTEN: Petrol and diesel price decreases bring relief to farmers, but for how long? CAPE TOWN – The latest drop in the fuel and diesel prices of 19c and 55c a litre, respectively, as a result of lower oil prices will provide relief for consumers, according to FNB Cash Investments chief executive Himal Parbhoo. Parbhoo… Continued

South Africa’s middle class is drowning in debt and getting poorer and poorer “Things aren’t looking good for our country. The forecast for economic growth is still below 1% and consumers are literally borrowing more just to survive,” says  Clement Manyathela South Africa’s middle class is increasingly funding their lifestyles by way of unsecured debt… Continued

Moody’s rating next month is widely expected to be a downgrade to junk. Consumers must avoid falling into a debt trap “like the plague” as the possible downgrade of South Africa’s credit rating by Moody’s next month could undermine the December petrol decrease and the recent Reserve Bank repo rate reduction, experts said. Efficient Group’s… Continued

The highly controversial debt relief hill has pushed hope into the arms of over-indebted low-income earners and the unemployed. Nevertheless, consumers shouldn’t celebrate too soon. The bill may cause severe consequences for the working class…  South African’s have been struggling for a while to keep their heads above water. With rising unemployment rates, the continuous… Continued

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