Demand for debt counselling grows as consumers struggle with finances: With the rising interest rates and high inflation, many more South Africans are seeking help to manage their increasing debt burden, with demand for debt counselling growing by 40%…
According to DebtBusters, the Debt Index shows that when compared to the first quarter of 2016, consumers who applied for debt counselling in the first quarter of 2023 had 38% less purchasing power, as well as
unsustainably high levels of unsecured debt and a higher debt-service burden – with an average 65% of net income being used to service debt...If you have already registered or subscribed, please sign in to continue.
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