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.
The ongoing drought is negatively affecting food production and most consumers are feeling the effect of food price increases in their pockets. In July, the annual rise in electricity and municipal rates and taxes will also take effect. The higher fuel price, that increased by 86c/l (for 93 octane petrol) in April and another 12c/l
Cape Town – There are thousands of debt collectors and attorneys demanding and collecting money from people even though the amount owed is prescribed. Debt Counsellors Association of SA (DCASA) president Paul Slot said yesterday in terms of the Credit Act, creditors cannot demand payment if they have not contacted you in three years. Slot
DESPITE the practice being outlawed, reckless lending continues unabated – so much so that the National Consumer Tribunal (NCT) has received double the number of complaints. The tribunal dealt with 9 589 cases in 2014/15 and in the 2015/16 financial year this figure rocketed to 19 097. Over a three-year period, the tribunal’s case load
DESPITE the practice being outlawed, reckless lending continues unabated – so much so that the National Consumer Tribunal (NCT) has received double the number of complaints. The tribunal dealt with 9 589 cases in 2014/15 and in the 2015/16 financial year this figure rocketed to 19 097. Over a three-year period, the tribunal’s case load
SOUTH AFRICANS are R1.64 trillion in debt and finding it very hard to get out of the trap. People aged between 31 and 45 collectively owe 53 percent of all outstanding debt. Most of the debt is for personal loans, less than a quarter have any money left after bills have been paid and 40
CEO at Debt Rescue, Neil Roets says South Africans don’t have a saving culture and that is resulting to debt. He says financial education should be the first priority among citizens to assist in their financial challenges. According to a new report released by Debt Rescue, middle-aged South Africans are the most indebted population group.
Cape Town – Debt counsellors are seeing a sharp increase in the use of payday loans among South Africans in the 25-39 age group. Personal loans make up the biggest portion of the debt type for all ages, except the over-65s, according to statistics from Debt Rescue. The over-65s have more credit card debt than
Cape Town – It’s very easy to get into debt, but very difficult to escape once the debt monster has you in its clutches. Here are some practical tips from the experts at Debt Rescue on how not to get into debt in the first place: – Save for luxuries and buy cash; – Draft
South Africans should prepare themselves for the biggest price hike in the cost of red meat later this year as inflation and the drought take their toll, warn experts. Although red meat prices are stable at the moment, consumers should prepare for double-digit price hikes by trying to pay off debt as the increase will
Middle-aged South Africans are the most indebted population group, accounting for 53% of the overall R1,64 trillion owed to creditors, reveals new data by Debt Rescue If you’re between the ages of 31 and 45, the chances are high that you’re drowning in debt. This is according to internal data collated by debt management company
