The Mercury


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‘WHILE Experian South Africa found that the rate of first-time consumercredit defaults improved in quarter four (Q4) of last year, consumer debthas increased to R1.81 trillion. Experians Consumer Default Index (CDI) for the last quarter showed animprovement, down from 4.68 in September 2020 to 4.07 in December2020. The index tracks the marginal default rate as… Continued

Durban – SOUTH African consumers are financially stressed and defaulting on their debt repayments due to retrenchments, and the situation is likely to worsen before it improves despite anticipated economic growth in 2021. Economists and debt counsellors yesterday said many consumers were struggling to repay their debts as credit providers now aggressively pursue collections following… Continued

Judgment to benefit the poor Siseko Njobeni THE CONSTITUTIONAL Court judgment on garnishee orders was likely to reduce the risk appetite of lenders and could see “risky” individuals struggle to obtain finance, Fincheck chief executive, Mi­chael Bowren said yesterday On Tuesday the court ruled that aspects of the enforcement of garnishee orders were un­constitutional. Various… Continued

A FUEL price drop is expected next week. Motorists and logistics companies are to have some relief as the petrol price is ex­pected to drop by an estimated 60c and the drop in the price of diesel is to be between 6c and 10c a litre. Neil Roets, Debt Rescue chief executive, said had fi­nance… Continued

Government revenues will, however, continue to remain vulnerable to a further deterioration in economic conditions IN ADDRESSING the persis­tent budget deficits, as ex­pected, a combination of in­creased taxes and cost containment has been pro­posed, with forecasts of a reduction in the budget deficit to 2.4 percent in 2019. With respect to increased revenue, the implications… Continued

Shain Germaner ECONOMISTS are divided on exactly how badly the repo rate hikes will affect the average South African in debt, although a few are saying that yesterday’s hike is good news. Yesterday afternoon the SA Reserve Bank announced it would increase the repo rate by 50 basis points. According to the bank’s governor, Lesetja… Continued

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