News Formal

Personal finance | Escaping the 'unsecured loan' debt trap

  • 📰 eNCA
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Many South Africans aren't able to get through the month and are resorting to unsecured loans.

South Africans are feeling the pinch of escalating living costs and rising unemployment. Now many aren't able to get through the month and are resorting to unsecured loans. Benay Sager, the head of DebtBusters spoke with eNCA's Gareth Edwards. Courtesy of

JOHANNESBURG - South Africans are feeling the pinch of escalating living costs and rising unemployment.How today's debt impacts your tomorrow"They must deal with paying back money that they borrow at the end of the day, when you borrow a sum of money you are liable for paying it back," he said. "Whatever solution you go with you will be liable to pay back the money that you borrowed eventually."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 49. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Personal Finance | Cost of living is forcing people into debt review | City PressThe figures for the first quarter of this year show that the demand for debt counselling grew by 40% compared to last year. Nearly all consumers (96%) who apply for debt counselling have a personal loan. How are you coping with the cost of living crunch?
Source: City_Press - 🏆 7. / 72 Read more »