Debt relief law misses the mark
Given the costs and complication of the new process, it may be simpler to write off debt of people who cannot repay it
19 November 2019 - 14:50
The extremely high rate of overindebtedness among South Africans is well documented. The situation's seriousness was reflected in a headline in The Economist last year: “In SA, more people have loans than jobs”.
With more than 40% of credit-active consumers in arrears and a debt book totalling R1.7-trillion, the economy and society are under threat. Crisis intervention is needed...
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