Picture: 123RF/ RUSLAN IVANTSOV
Picture: 123RF/ RUSLAN IVANTSOV

On August 13 2019 President Cyril Ramaphosa signed the Credit Amendment Bill, also known as the “debt relief bill”, that seeks to help over-indebted South Africans with a monthly income of R7,500 or less.

The bill has been met with hesitation from banks and opposition parties but studies show that around 9-million South Africans stand to benefit from debt relief.

On August 13 2019 President Cyril Ramaphosa signed the Credit Amendment Bill, also known as the “Debt Relief Bill”.