The New Age


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

Pick n Pay taken to task as claims emerge of Rlbn extended to unsuspecting, naive customers for groceries RETAILER Pick n Pay has come under fire for reportedly exploiting financially illiterate consumers in the wake of an announcement by the retailer it has approved and granted at least R1bn credit facilities to consumers. Debt Rescue CEO Neal… Continued

Durban – Good news for consumers as the price of petrol is set to drop by 36c a litre at midnight on Tuesday. However, the fuel levy of 52c a litre will still be introduced on April 1. Andre Venter, spokesperson of the trade union United Association of South Africa (UASA) said the drop of… Continued

“They get into debt during this season because they don’t budget. They feel obliged to spend money on presents and holidays even if they can’t afford.” – Neil Roets CEO of Debt Rescue

Holiday season tempting for consumers to spend more money than budgeted for AS THE festive fever gets into full swing, many consumers are already shopping like there is no “January dis­ease” that is also fast approaching. Debt counsellors have warned people about getting into further debt over the festive season. Neil Roets CEO of Debt… Continued

Whether currencies will stabilise remains to be seen but SA’s motor vehicle exports may be in the firing line DONALD Trump’s presidential victory surprised markets around the world, which saw huge sell-offs and weakening currencies. Emerging markets were not spared, with the rand tumbling 4% to R13.83 at one point yesterday and the JSE’s financial… Continued

They’re unscrupulous, dishing out loans to blacklisted consumers with no affordability checks and exorbitant interest THE National Credit Regulator (NCR) will beef up the fight against unscru­pulous loan sharks who are dishing out loans to blacklisted consumers without doing any affordability checks and charging exorbitant interest rates. These illegal loans inevitably drive desperate consumers deeper… Continued

South Africans seek to manage finances MORE South Africans are seeking debt counselling to turn around their finances, according to experts. Paul Slot, president of the Debt Coun­sellors Association of South Africa said they had noted an increase in debt counselling applications. It is estimated 260 000 people are under debt review. “We have seen… Continued

‘More than 8 million people are battling with debt repayments’ CONSUMER experts have welcomed Tuesday’s constitutional court decision on emoluments attachment orders say­ing it will benefit millions. The court ruled the emolument attachment orders also known as gar­nishee orders should only be issued by magistrates and not clerks of courts as was the case previously.… Continued

HARD pressed consumers are set to benefit from a petrol price drop expected next week. The price is expected to drop by about 60 cents a litre, while diesel is expected to go down by 90 cents. “This drop in fuel prices will bring some relief to consumers because it will affect the prices of… Continued

THE number of highly indebted con­sumers applying for debt counselling in South Africa has been increasing on a monthly basis according to the National Credit Regulator (NCR) figures. The increase in debt applications comes as consumers are grappling with several price increases which include electricity, essential food items and interest rates in recent months. Kedilatile… Continued

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