Today our guest is Founder of Debt Emancipation Movement Nolubabalo Salem Nyati.

Statistics released by VeriCred Credit Bureau put debt at R2.077 trillion by the end of the second quarter of last year.

• The data represented all the debt that was still outstanding at the end of the second quarter  of 2021 after some partial repayments had been made.
• These statistics also indicated that at that period, 717 495 people were under debt review.
• National Debt Advisers chief executive Sebastien Alexanderson said that it was time South Africans started seeking relief options for their mounting debt.
• Recently, National Debt Counsellors’ Association chairperson Benay Sager said that while consumers contended with a difficult economic environment, creditors were being repaid between R700 million to R800 million on a monthly basis.
• The association said that last year consumers under debt counselling paid creditors an amount of R10 billion.