SA consumers surviving on credit in cost-of-living crisis
Consumers are choosing to sign up for more debt as they try to increase their disposable income to afford the basics of everyday life. Another…
Millions surviving by borrowing money to pay debts, report confirms
South African consumers are borrowing more and more money to survive, but they cannot repay it, creating a bottomless debt spiral. The latest credit stress…
Tough times ahead as South Africans face financial crises
The Ombudsman for Banking Services (OBS) has warned that many South Africans face the prospect of a tough 2023. This comes as the inflation level…
SA’s high debt is culmination of years of tough economy, says DebtBusters
The high rate of indebtedness of South African consumers is a culmination of several years of a tough economic situation, inflation and, more recently, an…
Trouble for middle class South Africans
South Africa’s middle class is spending money they do not have, turning to credit to fund their lifestyles while increasingly defaulting on their loans. This…
Leaving debt review too early could come back to bite you
It is short-sighted and risky to leave debt review early, but it does happen when people use this tool that the National Credit Act introduced…
The difference between ‘good’ and ‘bad’ debt review
Earlier this month (Nov 2022), Capitec sent out a warning to its customers about false advertising by certain debt counsellors: “Have you ever been promised…
Should homeowners expect another interest rate increase?
Last week’s interest rate hike was higher than expected, leaving many homeowners wondering whether they should brace for another increase next month, or look forward…