South Africa’s largest debt management company, DebtBusters, says they have seen an increase of 41% in the number of people who want to undertake debt counselling. Many consumers are battling to make ends meet due to the high cost of living. There has also been a rampant increase in payday loans as consumers try to supplement their salaries.

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The number of South African consumers seeking help to manage debt soared in the first quarter with enquiries at South Africa’s largest debt counsellor up 31% compared to the same period in 2020; that’s according to DebtBusters.

Benay Sager, head of DebtBusters joins me now

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According to a debt counselling facility’s quarterly report, more South Africans are turning to debt counsellors to help them manage their loans.

DebtBusters, one of the biggest debt counselling facilities in the country has found that in the past four years more consumers with assets such as vehicles and homes are seeking debt counselling.

Joining us now from our studio in Sea Point in Cape Town is Benay Sager, the Chief Operating Officer of DebtBusters

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