The economic fallout of the coronavirus will be devastating for many SA consumers already reeling under huge debts they have already accumulated from credit providers, according to findings from credit bureau data for the three months ending December.
The banks have already moved to manage the fallout of the economic losses created as a result of the lockdown. Standard Bank was the first to announce relief for customers, with students receiving a three-month payment holiday on student loans at a zero interest rate and low-income earners and small and medium-sized enterprises being given a three-month instalment holiday from April 1. ..
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