Do you realise that 90% of your salary is going to paying your debt, leaving you with only 10% to survive — and you still have to buy food, electricity and water?" Asking that question of "Miriam" was Freddy Kamutiba, DebtBusters’ top financial consultant, who took her call this week on the floor of DebtBusters’ huge call centre in Cape Town.

I’d been invited to listen in on several of these calls; calls which had clearly taken those on the other end of the line a lot of courage and commitment to make. Like many who are horribly over-indebted, Miriam hadn’t really interrogated her numbers: all she knew when she made that call to the country’s largest debt counselling company was that "my debt has got too much"...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.