President Cyril Ramaphosa signed the controversial debt-relief bill into law last week.

The legislation provides for the extinguishing of the debt of heavily indebted consumers who earn a gross monthly income of no more than R7,500, have unsecured debt amounting to R50,000 and who have been found to be critically indebted.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now