There has been a more than 30% increase in debt counselling inquiries compared to the same period a year ago, indicating the financial stress consumers are experiencing.
This is according to DebtBusters’ Q3 2022 Debt Index.
More than 1 400 debt review companies in South Africa are registered with the National Credit Regulator.
Petrol prices hiked by 59 cents a litre for December on Tuesday, adding to the rise in prices of food and energy costs have led to the runaway cost of living, while salaries remain muted in a slumping economy.
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Anathi Madubela
Anathi Madubela is a business journalist with a keen interest in the retail sector.
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