Neil Roets explains more than half of credit-active consumers are over-indebted.
Chief economist at Old Mutual, Rian le Roux, has warned that a tight budget in February next year will take money out of consumers pockets. Le Roux said interest rates may be down next year but not by much. Local politics, like a Nenegate, will impact the rand negatively. A similar incident will weaken the… Continued
Debt Rescue CEO, Neil Roets, says once people are paid in early December this gives them a false sense of well being and overspending occurs. “Salaries are paid in early December and people forget that their next pay cheque only comes at the end of January when they have expenses that need to be paid… Continued
December debt and ‘Janu-worry’ woes hanging over your head? Well, debt counselling group Debt Rescue has some bad news. 2017 is going to be a difficult financial year for consumers, according to Debt Rescue CEO Neil Roets. He says that more than half of South Africa’s credit active consumers (over 10 million people) are over… Continued
JOHANNESBURG – The Energy Department says if the rand strengthens, motorists could get fuel price relief in February next year. This is after the department announced a steep rise in petrol prices. From next week Wednesday, the price of 93 octane will go up by 50 cents a litre, 95 octane goes up by 48… Continued
While the new developments apply to consumers under debt review, PDAs might be out of business due to the disruption to payment distributions to creditors. Payment distribution agents (PDA) will be affected by consumers who request banks to reverse legitimate payments to credit providers. 702’s Stephen Grootes spoke to CEO of Debt Rescue, Neil Roets,… Continued
According to a Debt Rescue study, only about 23% of South Africans have money left at the end of the month before their next payday. The study finds that 86% of South Africans borrowed money in the year 2014. It also finds that South Africans between the ages of 31 and 45 collectively owe 53%… Continued