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peoplemagazine.co.za South Africa Money South Africa

Let’s Talk About Debt Counselling

09.07.2020 - 00:35

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While some consumers are not aware of how much debt they are in and the consequences thereof, others are more concerned at the stigma over asking for professional help with their debt, says Benay Sager, Chief Operating Officer at DebtBusters. “We declared February National Debt Awareness Month to improve awareness and understanding of the burden of debt.

Beyond that we want to continue to encourage consumers to act before they face the possibility of their house, cars or other assets being repossessed.” Sager says South Africa has a world-class, regulated debt counselling sector and it is working well.

In 2007, debt counselling was introduced as part of the National Credit Act in 2007. “The provision helps over-indebted or soon-to-be

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