Consumers are facing heavy debt pressure as the impact of the pandemic continues to hit home.
DebtBusters says the number of people approaching it with debt counselling inquiries rose 18% in the second quarter of 2021, compared to the same time last year when SA was under the harshest lockdown level.
DebtBusters said while more people might be back at work now, many consumers are seeking help because of the after-effects of the lockdowns. Reduced incomes because of stop-and-go economic activities in the past year meant that many people's ability to borrow has narrowed.
"It is clear that the debt situation of SA consumers has further deteriorated recently. In the absence of a meaningful increase in real income growth, SA consumers continue to supplement their income with more unsecured credit," wrote DebtBusters.
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