The Treasury plans to undertake a study to identify the key characteristics of overindebted consumers, particularly among low-income groups. The study would form the basis for developing debt-relief interventions to assist these consumers, Treasury senior adviser for market conduct and financial inclusion Katherine Gibson said in a presentation to Parliament’s trade and industry committee on Wednesday. The Treasury was aiming to follow a vigorous process with strict criteria to determine who should benefit from debt relief, Gibson said. The debt relief should be targeted at particular categories of consumers rather than being applied generally, she said. The committee is working on a proposed law to provide debt relief to the heavily indebted. Finance Minister Malusi Gigaba has given his support in principle for some form of debt relief. It is one of the elements of his 14-point plan to help lift the economy out of recession. Gibson said the proposed study would also examine the eff...
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