South Africans are paying 76% of their income on debt

The income to expense ratio in South Africa is a financial pandemic. Low salaries coupled with unavoidable debt and high cost of living expenses demonstrate a real problem the majority are suffering from. According to recent studies, South Africans are paying 76% of their income on debt. Ultimately, while most South African consumers have a reliable source of income, they are forced to spend the vast majority of it covering their debt.

While this is undoubtedly a point of concern, there is something that you as a consumer can do about it.

At Debtco Group, we specialize in professional debt counselling services. The debt counselling process involves voluntarily undergoing debt review to achieve financial stability. Our expert team will restructure your payments to your creditors, prevent legal action against you, and take over all communication with your creditors going forward. Additionally, our NCR-registered debt counsellors can provide you with personalised financial advice regarding your budget, ensuring that you avoid falling into the debt trap in future.

We tailor every payment according to our client’s budget, ensuring they can make their payments while still allowing them to cover their current day-to-day expenses. With years of experience as trusted debt counsellors, we understand the financial trouble that most South African consumers experience. More importantly, we know what works to alleviate the crushing pressure of debt.

At Debtco Group, we have a client-centric approach to managing debt. We believe that no consumer should be bound by the chains of crippling debt when help is available. If you find yourself in a position where managing your debt has become overwhelming, please contact us for a free debt counselling assessment.