National credit act

SA debt measures backfire

Only 21c in every rand is available to the average South African household to pay for living expenses. The rest is used to pay debt, despite measures in the last two decades to curb levels of household indebtedness. What’s more, of the 20 million credit-active consumers in this country, 47%[…]

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Cash Converters facing possible fine

Second-hand goods retailer Cash Converters is facing a possible fine for several breaches of the National Credit Act, stemming from its cash-advance loans services. This comes amidst growing criticism directed at companies that offer ‘pay-day’ loans, seen as a major factor in pushing people into an endless cycle of debt.[…]

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