According to DebtBusters, 95 percent of people who applied for debt counselling during the second quarter had personal loans. 54% of them are on one-month payday loans of more than 23% interest per annum. Interest rate cuts and two pots systems have been used by some to consolidate loans, as many battle to maintain households costs. Debtbusters Executive Head, Benay Sager elaborates.
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The banks question thriving ????