Tag: debt consolidation
Championing consumer financial protection within the banking industry
The need for trust within the banking sector has, in recent years, never been more important than it is today. Recent times have seen the South African banking public being exposed to news of bank failures elsewhere and if that was not enough worry for the consumers, their stresses are further aggravated by their inability to meet their repayment obligations to their creditors brought about by the rising global cost of living crisis and the ongoing energy crisis.
Understanding money – options when struggling with debt
It’s common cause that too many South Africans struggle with debt. National Credit Regulator data shows that 40% of the 25 million active credit users are behind on their payments. That proportion has probably become worse since April 2020 because the data was released before the COVID-19 crisis.
Understanding debt consolidation: benefits and pitfalls
With the lockdown period having significant ramifications on personal finances, many consumers are asking about available options to assist in better managing their money. One option is debt consolidation, which in the right circumstances can improve current cash flows and save costs.