Consumers are in for a tough time Most consumers cut out luxuries from their spending some time ago. They will also have to start cutting on basic necessities just to stay alive. Although the petrol price is only expected to rise by about 7 cents a litre in June, with diesel likely to increase by… Continued
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South Africans are taking out debt for food Imagine taking out debt for food. This has become a horrid reality for South Africans. Many consumers are in debt in a floundering economy. Some are even taking out debt just to feed themselves and their families. The rising petrol price is affecting consumers even more. Motorists… Continued
Government and Eskom debt is huge, ratings downgrade likely – Debt Rescue. Government corruption and mismanagement are to blame for the dire situation consumers face due to the fuel and electricity increase implemented this week. Experts said the electricity hike on Monday and petrol hike yesterday would hit consumers and businesses hard. They predicted that… Continued
Another fuel price drop may only be a temporary reprieve. The country may start the new year positively with a fuel price decrease scheduled for tomorrow, but a tough year is awaiting South Africans, with a series of price hikes that may send the economy into a tailspin. Investors will not jump to invest after… Continued
The fact that the government has by artificial means supported the fuel price to keep it well below the 23c-25c a litre that had been expected will come back to haunt consumers in months to come says economist Dawie Roodt. “There is a set formula that the energy department and economists use to calculate the… Continued
Neil Roets A growing number of deeply indebted consumers are getting themselves into financial trouble by “investing” in cryptocurrencies such as bitcoin and Ripple. I was amazed when the first clients started applying for debt counseling who had been driven to the brink of bankruptcy by buying into get-rich-quick schemes involving cryptocurrencies. Some of them… Continued
South Africa is the only country in the world that allows for home loans to be placed under debt review. Individuals pledging their lives to one another may well be forgiven for wanting to alter their wedding vows such that “death” is replaced with “debt”. Financial difficulties can place enormous strain on any relationship, more… Continued
Index shows SA is one of world’s most indebted countries. With major price increases for food and other essential commodities on the cards as well as a continued sluggish growth rate predicted for the new year, South Africans are in for a rough ride in 2018. Neil Roets, CEO of debt counselling company Debt Rescue,… Continued
– Deeply indebted consumers should think long and hard before plunging themselv es even deeper into debt by splurging on luxury goodson Black Friday. Often deals offered by major retailers seem so good that consumers throw caution to the wind and blow their entire Christmas budget on expensiv e items such as high-end TVs and… Continued
Roets also urged consumers to rather save their Christmas bonus and use it to pay school fees and other accounts. The drop in fuel price that comes into effect at midnight on Tuesday and recent decisions by the three main sovereign rating agencies not to downgrade South Africa to junk status is all Christmas cheer,… Continued
The drop in fuel price that comes into effect at midnight tonight and recent decisions by the three main sovereign rating agencies not to downgrade South Africa to junk status is all Christmas cheer, but an economist warns consumers against opening their purses too wide this festive season. The price of petrol will drop by… Continued
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… Continued
We look forward to the opportunity to get you debt-free!
