South African debt under the spotlight
By Sasha Forbes
20 June 2009
The National Consumer Forum said yesterday that low income earners continued to fall into debt traps with the Gauteng and Mpumalanga being the hardest hit.
The forum said consumers who earned less than R5 000 are being continuously exploited by service providers.
According to reports the organisation’s Thami Bulani said that they know a lot of people who are losing their homes and their cars.
Bulani also added that over 1 500 people get into debt every month because they default on payments.
However according to reports Justice Minister Jeff Radebe said debt collection must be regulated because clients are being harassed.
20 June 2009
The National Consumer Forum said yesterday that low income earners continued to fall into debt traps with the Gauteng and Mpumalanga being the hardest hit.
The forum said consumers who earned less than R5 000 are being continuously exploited by service providers.
According to reports the organisation’s Thami Bulani said that they know a lot of people who are losing their homes and their cars.
Bulani also added that over 1 500 people get into debt every month because they default on payments.
However according to reports Justice Minister Jeff Radebe said debt collection must be regulated because clients are being harassed.
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