The South African Reserve Bank’s decision to keep the repo rate at 7.5% has disappointed many consumers, particularly those struggling with home loan and car repayments. Annaline van der Poel from Debt Rescue explained on eNCA how this decision, along with rising VAT, electricity costs, and inflation, is placing even greater financial strain on already struggling households.
Debt Rescue has seen a significant increase in debt review applications, particularly at the start of the year. Van der Poel explained that debt review provides structured relief, allowing consumers to meet essential expenses while avoiding legal action. Debt review offers a transparent and legal path to becoming debt-free, enabling consumers to repay their debts in a manageable way. Once they complete the process, they can re-enter the credit market responsibly.
Whether you’re struggling to keep up with repayments or just want to understand how these financial shifts impact your future, this is a must-watch conversation.
