May 2022 Debtfree DebtBusters Special Edition
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This is particularly important in an environment where both interest<br />
rates and inflation are increasing.<br />
In these circumstances, consumers need to do everything possible to<br />
reduce the cost of credit and protect their assets. For those unable to<br />
do so without help, debt counselling is the best option available.<br />
While under debt counselling, unsecured debt interest rates can be<br />
reduced significantly, allowing consumers to pay back expensive debt<br />
more quickly.<br />
The number of consumers who successfully finish debt counselling<br />
today is nine times higher than in 2016. In fact, consumers who<br />
finished debt counselling in Q1 <strong>2022</strong> paid back R400 million while<br />
they were under debt counselling, showcasing the success of the<br />
programme.
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