Ian Wason, DebtBusters CEO, speaks to Fin24 on the debt spiral. Millions of South African consumers are unable to break free from debt and find themselves more and more indebted as time passes by. The average age of our clients has come down from the age of 44 in 2008, to 34. This shows us […]
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As the New Year commences, it is important to acknowledge the key financial faults that South African Consumers make each year, which are detrimental to their current and future financial situation. By avoiding the following faults, you can sustain your financial security and avoid the possibility of accruing debt. 1. Don’t forget to draw up […]
By PRINCE MOENG Cape Town – The national credit regulator yesterday kick-started a campaign to educate consumers about their rights under agreements with credit providers and to help them borrow more prudently. The awareness campaign would continue for the rest of the month, said the watchdog, which was established under the National Credit Act to […]
If a debt counsellor suspects that you were given credit recklessly because you could not afford it, he or she can ask a court to decide if this was indeed the case and if so to suspend the agreement or set it aside. Once your repayment plan is agreed, you will make payments to a […]
“The latest interest rate cut is a movement in the right direction, but at least 80% of our clients will not see any tangible impact from this. They would still be over-indebted if interest rates halved from their current levels” says Luke Hirst, MD of South Africa’s largest Counsellor DebtBusters. As a registered debt counsellor, […]