The Herald

The industry’s top experts offer their best advice, research, how-to’s, and insights

AFTER a long December holiday of overspending and poor planning, pawn-shop and second-hand deal­ers are expecting an influx of peo­ple desperately short of cash. Meanwhile, debt rescue service providers say they see a dramatic increase in the number of people requesting their help at this time of year. Tom Fuhri, chief executive of the Second-hand […]

South Africa can breathe a sigh of relief after receiving a reprieve from credit rating agency Standard & Poor’s Global Ratings late yesterday. The agency held the country’s foreign currency sovereign credit rating at BBB-, the lowest investment-grade rating, and kept its outlook negative. It was the last of the big three agencies to make […]

YOU have a matric, but not a university pass. Now what? The future for matriculants looking to enter the job market this year was bleak, with only four out of every 10 matriculants destined to find jobs, Debt Rescue chief executive Neil Roets said. But it is not all doom and gloom. Youths have the […]

CONSUMERS will have to dig deep to keep afloat after an increase of 25 basis points in the interest rate was announced yesterday. The new rate at which the Reserve Bank lends to commercial institutions is 6.25%, with the prime lending rate as generally charged by banks rising to 9.75% The increase caught many economists […]

While a drop in the petrol price of 22c per litre would be welcome relief for consumers, it was likely to be offset by the severe drought plaguing South Africa’s grain-producing regions. That is according to Debt Rescue chief executive Neil Roets, who said the drought would lead to significant price increases in basic foods. […]

Debt levels rise again after slates cleared IRRESPONSIBLE financial behaviour is on the rise again. This signals that South Africans did not change their spending habits after the credit amnesty granted to deeply indebted consumers with adverse credit records, which had aimed to offer consumers a clear slate‚ experts say. EMPS chief executive Kirsten Halcrow […]

The expected petrol price decline of 70 cents a litre will be a great relief for many South Africans, but deeply indebted consumers are in for a rough ride. The predicted 70c/l drop in fuel and 50c/l drop in diesel are said to only benefit indebted consumers for a short period of time. This is […]

MANY already over-indebted consumers could fall even deeper into debt due to looming interest rate hikes and increases in the prices of fuel and electricity tariffs‚ Neil Roets, chief executive of debt management company Debt Rescue, said yesterday. Extremely high levels of debt limit the extent of growth in consumer spending. The fuel price increased […]

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