Huge demand for debt counselling so far in 2021, DebtBusters says
The number of people seeking counselling for debt is up 40% year on year so far, and those with unsecured loans are under pressure
04 February 2021 - 14:31
DebtBusters, which is part of SA’s largest debt-management company the IDM Group, says the effect of Covid-19 payment holidays granted by banks has faded, and it is seeing “overwhelming demand” for debt counselling services so far in 2021.
Although it is early in the year, inquiries are up more than 40% on an annual basis, DebtBusters said during the release of its debt index for the fourth quarter of 2020, with clients with unsecured loans, or loans not backed by assets, under particular pressure...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.