Indebted consumers advised to be careful when using debt counselling or consolidation to avoid being taken for a ride - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Indebted consumers are advised to be careful when using debt counselling or debt consolidation to avoid being taken for a ride by unscrupulous companies.

, many have fallen on hard times and may experience difficulty in keeping up with debt repayments.

According to Debt Busters’ recent Debt Index for the second quarter of this year, there has been an increasing demand from consumers for debt counselling. “The South African consumer has been battling with two things, inflation and interest rates, and both have been on the rise, and what we see based on the debt index, consumers are dealing with this, particularly those taking home between R10 000 and R20 000 which is the overwhelming majority of the population when it comes to the SA middle class, those are responding to this by essentially having to borrow to make ends meet because their salaries haven’t really been increasing over the last few...

Those considering debt counselling are encouraged to do their homework to ensure they are not taken for a ride by unscrupulous practitioners.

 

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