What does a ‘debt holiday’ mean to someone who is already over-indebted? Neil Roets explains what consumers can expect by applying for ‘debt holiday’ or payment breaks provided by banks in South Africa during COVID-19 lockdown.
SAfm hosts panel of debt experts to answer debt-related questions including: Is it advisable to take out a loan as a business owner to pay employees during COVID-19 lockdown? Can I make arrangements with the bank for my bond repayments? How will the lower interest rate affect my monthly repayments?
CEO, Neil Roets says, “Consumers are becoming more and more indebted as the lockdown continues. Although financial institutions have offered customers payment holidays, these debts still have to be paid if the government hopes to recover the economic damage caused by the lockdown.”
Oil prices have recently collapsed to an all-time low reaching below $0 for the first time in history. Traders dumped oil due to the ongoing impact of the Coronavirus. The historic decreases are expected to have a negative knock-on effect on oil-producing countries, many of which are in Africa. Economist Neil Roets explains this is… Continued
Due to the national lockdown, South Africans are left to make do with the little they have. Neil Roets joined Breakfast with Martin Bester telephonically to discuss the effects of the national lockdown due to the coronavirus. Roets is the founder and CEO of Debt Rescue, one of the biggest debt counselling companies in South Africa. According to Debt Rescue, chances are that… Continued
Debt Rescue has warned South Africans to prepare for the worst after Moody’s downgraded the country’s credit rating to junk status. The company’s CEO Neil Roets says while ordinary people will not feel the impact of the downgrade directly, it will have a severe impact on the rand. “It will affect foreign investments that could dry… Continued
Verbruikers, beide hier en in die buurlande word gewaarsku om nie, tydens die inperking roekeloos te raak met die betaling van hul debietorders nie. Maatskappye wie se werkers nie tuis kan werk nie, is reeds in kennis gestel dat hulle miskien slegs ‘n persentasie of geen salaris mag kry nie. Die Suid- Afrikaanse Ekonoom, Neil… Continued
South Africans are urged to spend wisely and make sound financial decisions even with the uncertainty around the current global pandemic. Following the President of South Africa’s state of the nation address declaring a national state of disaster, people have been panic buying. Photos and videos have gone viral of South Africans panic buying at… Continued
Debt Rescue Urges South Africans to make responsible financial decisions NATIONAL NEWS – Debt Rescue SA has urged South Africans to make responsible financial decisions even with uncertainty around the COVID-19 global pandemic. Photos and videos have gone viral of South Africans panic buying at grocery shops this week. Thousands cleared shop shelves on Monday… Continued
Do not overspend on panic-buying Debt Rescue CEO Neil Roets has warned consumers not to overspend on panic-buying items amid the outbreak of coronavirus in South Africa. President Cyril Ramaphosa announced a state of national disaster amid the growth in Covid-19 cases over the past two weeks. South Africa had 61 confirmed cases of coronavirus… Continued