Annaline van der Poel, COO of Debt Rescue, discusses the financial struggles faced by many South Africans as living expenses rise and credit becomes more expensive. She explains how the lower-income groups are being hit the hardest and describes how debt review can help consumers manage their total debt profile, offering legal protection and restructuring to prevent a debt spiral.
Importance of Budgeting and Seeking Help from Debt Counsellors
Annaline emphasises the importance of budgeting and the reality that many people are now using credit for essential needs such as food and fuel, which were previously considered emergencies. She advises those struggling with debt to seek help from debt counsellors to avoid legal action and retain their assets, underscoring the importance of not living beyond one’s means in these challenging economic times.
Listen to the interview on Kaya FM
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