Avoid unnecessary debt

2017-06-30 06:00

STATISTICS South Africa has announced that the South African economy has moved into recession.
“This announcement indicates a gloomy picture ahead for consumers,” says Mpho Ramapala­, Manager Education and Communication at the National Credit Regulator (NCR).

The NCR would like to caution consumers about taking unnecessary debt during these trying times. It recommends that consumers should scale down on unnecessary and luxury expenditures and live within their means.

“Over-indebted consumers can also seek advice from registered debt counsellors or alternative dispute resolution agents,” says Ramapala.

Credit providers are reminded to lend responsibly to consumers in compliance with the affordability assessment provisions of the National Credit Act.

For additional information, as well as a comprehensive list of registered entities such as credit providers, debt counsellors and alternative dispute resolution agents, consumers can visit the NCR’s website www.ncr.org.za, or contact the NCR on 0860 627 627 and info@ncr.org.za - Supplied.

 

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