CONSUMER debt will remain high despite the upcoming drop in fuel prices, a debt counsellor said yesterday. “The drop in the retail price of petrol of 45 cents a litre on Wednesday will bring welcome relief to deeply indebted South Africans, but the overall indebtedness of consumers remains a problem,” Debt Rescue chief executive Neil Roets said. South African consumers owed R1.44 trillion, leading many to seek the help of debt counsellors, he pointed out. – Sapa
Thank you for subscribing! Check your inbox.
- Brace for a difficult couple of months ahead: experts
- Petrol price hike ‘foreshadows more economic shocks’
- 85% of South Africans in need of financial help, 55% has no access to credit
- Survey finds that 55% of South Africans need debt assistance
- Payment holidays to cost South Africans R20.7bn as experts warn of broken economy