Credit applications are increasing

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South Africans in debt are borrowing money to supplement their income. That’s according to Debt Busters, the largest debt counselor.
In its latest quarterly debt report, for the 4th quarter of last year, it shows that middle-income earners are the hardest hit by this. Debt Busters has declared February, “debt awareness month” to raise awareness and educate people about the dangers of over-indebtedness.

Timmy van der Grijp, legal advisor from the debt counselling department at the National Credit Regulator is in studio.

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