Need debt management in East London? Contact NDA! After the Reserve Bank hiked the repo rate twice, consumers had to pay much higher credit payments. On top of the rate hikes, 75% of consumers’ monthly salaries go to their creditors, according to the NCR and Stats SA.
We are also facing severe drought in the major food production regions, as well as a rapidly weakening rand. All of these influences combined could have dire consequences for the deeply indebted.
Considering the current state of the economy, having piles of debt leaves you exposed to pressures that could bring about full-blown financial ruin. Now is the time to seek help from a dependable company, such as NDA.
The drop in petrol prices has given consumers in East London only fleeting relief, as this slight alleviation was negated by mass job cuts and the unaffordable cost of living. Food and imported goods prices are becoming unduly expensive, as the rand rapidly depreciates against all major currencies.
Economists are encouraging consumers in East London and the other 15 provinces to take steps to reduce their debt load, by entering a debt relief program with a registered firm, like NDA. The total amount of debt owed by consumers in South Africa, including East London, now stands at +/-R1.6 trillion, according to the Reserve bank.
Moreover, more than half of credit users have fallen into three or more months of arrears on their debt repayments. This shows just how hard times are for consumers right now. As such, it is essential you that you, at the very least, consider debt management if you are not in control of your debts.
The need to reduce one debts or enter debt management with a trustworthy company like NDA has never been as urgent as it is now, and this urgency will only escalate with every passing day. If you are struggling with debt, don’t hesitate! Contact NDA online now for a free call back today wherever you are in the country.