WENDY KNOWLER | Consolidation loans can worsen debt trap
“The results indicated that consolidation loan practices constitute predatory lending, which exacerbates household over-indebtedness.”
21 April 2024 - 21:03
Do you realise that 90% of your salary is going to paying your debt, leaving you with only 10% to survive — and you still have to buy food, electricity and water?” Asking that question of “Miriam” was Freddy Kamutiba, DebtBusters’ top financial consultant, who took her call this week on the floor of DebtBusters’ huge call centre in Cape Town...
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