Debt management tips and advice
Effective debt management has become critical for South African families with rising financial burdens. According to Bloomberg, South Africa’s gross debt will exceed R6 trillion by March 2026. In 2023, it currently stands at around R5.02 trillion, which shows how severe the debt crisis is and why good financial management is essential. For many South […]
How long does debt counselling take?
Debt affects a sizable section of the South African population, with many individuals and households unable to keep up with their payments. According to a recent Old Mutual Savings and Investment Monitor, 38% of South Africans have debt that exceeds their income and 10% of households have skipped a meal owing to a lack of […]
Does debt counselling affect credit score?
South Africa has a high level of debt among its citizens, with many people struggling to manage their finances and maintain their credit scores. One of the most commonly asked questions is whether debt counselling will have a negative impact on an individual’s credit score. The short answer is yes, it can, but there are […]
How does debt counselling work?
South Africa is currently experiencing a severe debt crisis, with many individuals and households unable to meet their financial obligations. According to CEIC, South African household debt reached R2.83 trillion in June 2023. This is 40.9% of the national gross domestic product (GDP). Debt counselling is a recommended solution to help people regain control of […]
Why debt counselling is a good idea
Debt has become a major concern for many South Africans, causing financial stress, strained relationships and limited opportunities for growth. With the rising cost of living and the challenges posed by the current economic climate, debt counselling could be your saving grace. It’s no surprise that South Africa’s debt levels have reached alarming proportions. Debt […]