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SOUTH African consumers are financially stressed and defaulting on their debt repayments due to retrenchments and the situation is likely to worsen before it improves despite anticipated economic growth in 2021.

Durban – SOUTH African consumers are financially stressed and defaulting on their debt repayments due to retrenchments, and the situation is likely to worsen before it improves despite anticipated economic growth in 2021. Economists and debt counsellors yesterday said many consumers were struggling to repay their debts as credit providers now aggressively pursue collections following […]

SOUTH African consumers are financially stressed and defaulting on their debt repayments due to retrenchments and the situation is likely to worsen before it improves despite anticipated economic growth next year.

In spite of the huge number of Covid-related job losses and resulting failute of thousands of South Africans to keep up with their credit payments, the big banks are looking remarkably steady.

With the cost of living having gone up, coupled with job losses and salary cuts, more and more South Africans have found themselves drowning in debt. For some, going under debt review is an option. A recent survey by Debt Rescue found that 85% of all South Africans need help either financially, emotionally or both […]

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