News24 | Income growth has not kept up with significant cost increases

DebtBusters' third-quarter 2024 Debt Index indicated that demand for debt counselling increased by 6% compared to the same quarter last year. Executive Head of DebtBusters, Benay Sager, said in a statement that income growth has not kept up with significant cost increases, and consumers are using short-term unsecured credit and personal loans to make up the shortfall, at a time when unsecured interest rates are close to the maximum 29%.

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