Why the High Debt Among South Africans?
With sharp increases in petrol, energy and food costs, consumers are taking to unsecured loans that often results in a debt spiral over the high costs of repayments.
Two out of three consumers believe they have no alternative but to get into debt.
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I am saddened that people take advantage of other people in this way. I have started a Debt Neutrality movement in the United States. Debt Neutrality would allow consumers to pay down their debts interest free, and with no more penalties or fees.
To be eligible, the consumer could not run up additional debt of equal or greater value while paying down their present debt interest free. If you want to support worldwide debt neutrality, please like us on facebook.
www.facebook.com/debtneutrality and visit the blog www.debtneutrality.blogspot.com
Yes its really scary how many people who are under administration or debt review are still looking for additional loans & funding.
The problems with this are outline in the article below;
http://www.loan-lenders.co.za/debt-review-loans.htm