Lockdown's left SA drowning in debt – and it’s about to get worse

South Africa's coronavirus-induced lockdown crippled jobs and salaries, with consumers looking to loans to weather the storm.The start of 2022 has seen a surge in debt counselling inquiries, with one firm reporting an increase of 32% in January compared to the same period last year.

This report, released on Tuesday to launch National Debt Awareness Month, profiles consumers who've applied for debt counselling in the final quarter of 2021 and compares it with data gathered over the past five years.

Source: Loan Digest (loandigest.net)

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