A staggering 94% of those surveyed in a recent Debt Rescue study experienced a cash shortage during the past year. This could be due to changing work statuses. A noteworthy 34% lost their jobs, contributing to South Africa’s unemployment rate breaking through the 32% ceiling, with 22% being retrenched and 17% receiving a pay cut.… Continued
Many people have already maxed out their credit cards Consumers who collectively owe more than Ri.7i-trillion in outstanding debt should guard against ratcheting up even more debt over the Christmas holidays. Neil Roets, CEO of one of South Africa’s largest debt counselling companies, Debt Rescue, said having spent copiously on Black Friday and Cyber Monday,… Continued
The drop in employment with the economy shedding 15 000 jobs in the private sector was a harbinger of things to come and consumers should expect further shocks in the months to come. Neil Roets, CEO of Debt Rescue, said all indications were that consumers were going to face a dark future with more jobs… Continued
THE finance minister’s announcement that the fuel levy will be raised by 30c per litre to R2.85 per litre for petrol and R2.70 per litre for diesel, effective from April 6, will impact motorists and the economy. That’s because most goods in South Africa are moved by road. Neil Roets, the CEO of one of… Continued
IT was high time the National Credit Regulator (NCR) acted against reckless credit providers because of the role these financial institutions played in the over indebtedness of consumers. CEO of one of the largest debt management companies in the country Neil Roets said he was delighted that providers who promoted over indebtedness were brought to… Continued
He announcement by the Reserve Bank that it was increasing the repo interest rate by 0.5% coming on top of proposed 8% increases in electricity rates is going to have a devastating impact on consumers. There is also a strong likelihood the price of SA’s staple food – maize meal – may increase by as… Continued
THE latest fuel price increase is going to have a severely negative impact on consumers, say experts. The price increase in all grades of petrol by 47 cents per litre on Wednesday on top of the increase in electricity tariffs and an almost certain rate hike by the Reserve Bank later in the year is… Continued
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