The future for SA consumers looks bleak
A while back, consumers were forced to cut out luxuries from their spending to keep their heads above water. But, now, they will have to start cutting on basic necessities just to stay alive.
All the main economic indicators show that things in South Africa are going to get more and more difficult for consumers. Many consumers are falling behind in debt repayments and resorting to the process of legal debt review to keep their heads above water. This is allowing deeply indebted consumers to repay their debts over a longer period of time in smaller instalments often at a discount.