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More South Africans are falling into the debt trap yearly and this past year has been one of the worst for a long time with record numbers seeking protection under debt counselling legislation. CAPTION: Cartoon by Yalo RELATED ARTICLES ‘Consumers are getting into debt to cover basic needs’ Neil Roets, CEO of national debt counselling […]

WHEN over-indebted people enter the debt-counselling process, their creditors are supposed to obey the letter of the law in allowing that process to unfold. Although the system is for the most part effective in addressing the needs of both parties, some creditors bend or break the law in an attempt to force the person out […]

Good news for deeply indebted South Africans. Banks and other credit grantors will no longer be able to hoodwink people who are under debt review to opt out in favour of voluntary debt mediation stripping them of their legal rights and placing their property at risk of repossession. In a statement issued on Thursday the […]

As the Banking Association announces plans to cut interest rates for people under debt review, one can’t help but question the sincerity of SA’s biggest lenders. It would be “extremely helpful”, but it remains to be seen whether they would do so without any preconditions said Neil Roets, CEO of debt review counselling company Debt Rescue. […]

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