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.
Cape Town – The hike in Petrol price and diesel prices will have a major impact on consumers, who are already struggling to make ends meet, according to debt management firm Debt Rescue. The price of both grades of petrol will increase by 45c a litre on Wednesday. That means inland motorists will pay R13.05c/l
The petrol price in South Africa will rise by 45 cents next Wednesday, the energy department said, while diesel will rise by 63 cents. The price of 93 octane petrol will cost motorists R12.79 per litre, while 95 octane will cost R13.05 per litre in Gauteng province. Diesel will go up by 63 cents to
The guilty verdict against Lewis Stores for infringing the National Credit Act by the National Credit Regulator (NCR) was just the tip of the iceberg and many more listed and privately held entities extending loans were guilty of these practices. Neil Roets, CEO of one of the largest credit management corporates in South Africa said
Massive relief could be on the cards for over-indebted consumers Reckless credit providers could find themselves in hot water should the National Credit Amendment Bill, which is currently being tabled in Parliament, be passed. This is according to Debt Rescue CEO Neil Roets, who told Business Tech that scrapping reckless loans granted to over-indebted consumers
Debt management firm Debt Rescue says that widespread new legislative measures in the pipeline will bring relief to deeply indebted consumers in South Africa. Credit providers which includes everybody from micro lenders, retailers and the four big banks have been served notice that if they lend money to over indebted consumers these loans may be
TOUGH: RECKLESS LOANS COULD BE WRITTEN OFF Many retailers are breaking law on massive scale, says Credit Rescue. Reckless lenders could find themselves on the wrong side of the law when new legislation comes into effect. Credit providers, including micro-lenders, retailers and even banks, who grant loans to over- indebted customers, could be targeted. Major
They’re unscrupulous, dishing out loans to blacklisted consumers with no affordability checks and exorbitant interest THE National Credit Regulator (NCR) will beef up the fight against unscrupulous loan sharks who are dishing out loans to blacklisted consumers without doing any affordability checks and charging exorbitant interest rates. These illegal loans inevitably drive desperate consumers deeper
The Chamber of Mines says it is deeply concerned about the state of public institutions in South Africa and will raise the matter with the Presidency. The chamber of mines noted with concern the announcement by the National Prosecuting Authority (NPA) of its decision to charge the Minister of Finance‚ Pravin Gordhan‚ in relation to
South Africans seek to manage finances MORE South Africans are seeking debt counselling to turn around their finances, according to experts. Paul Slot, president of the Debt Counsellors Association of South Africa said they had noted an increase in debt counselling applications. It is estimated 260 000 people are under debt review. “We have seen
Wayne McCurrie, a financial analyst at Ashburton Investments, has warned that the fallout of the Gordhan saga will lead to a significant rise in the price of petrol. McCurrie said that with the rand back above R14 against the dollar, and the oil price above $52 ‘means that petrol will increase significantly next month, if
