Read Debtfree Magazine online -SA's Debt Counselling Industry Mag:

Debtfree Magazine is South Africa's Premier Resource for Debt Counselling information and news.

Debtfree Magazine is produced digitally each month and is distributed to Debt Counsellors, Credit Providers and subscribers country-wide. If you would like to stay current with developments in the world of Debt Counselling then this is the publication for you.

Visit : for more info.

Mail the word :"Subscribe" to to receive access to Debtfree Magazine free each month.

The Latest Debtfree DIGI

Thursday, January 21, 2010

Summons' and Judgments increased during end of 2009

Stats SA have released some scary figures for November of last year (2009)
According to them more than 100 000 people were summoned for debt in November.

Also increasing are then number of Debt judgments which in November swelled by 19% (over 2008 November) to 64 254

People are really struggling to handle their debt repayments each month. At present according to Stats SA debt repayments represent 79% of disposable income (79c of every rand of disposable income goes to pay off debt) which is very high. Leaving very little for people to save or spend on other non-essentials.

It seems that the end of last year was a bad time for many consumers, who will now have Debt judgements looming over their heads for 30 years
(that's how long the judgements last...crazy hey?)

No comments:

Post a Comment