The credit ombudsman says it is concerned by the high number of young people who fall into a debt trap while still at university.
“We are facing a youth unemployment crisis in our country. Some are able to obtain a tertiary qualification, but a bad credit record may cause them not to find employment, especially for those who want to venture into the financial sector.
If you really need to take out debt, then find a registered credit provider who will grant you credit that will suit your affordability. A credit provider that will patiently assist you in your decision and allow you to carefully read and understand what your credit agreement entails.
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