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Consumers encouraged to pay debts this December

December is a critical time for consumers to make sure their payments are up to date, as millions have to stretch their money further and often end up skipping debt repayments in favour of festive-season shopping.

Consumers encouraged to pay debts this December

December is a critical time for consumers to make sure their payments are up to date, as millions have to stretch their money further and often end up skipping debt repayments in favour of festive-season shopping.

According to South Africa’s National Debt Counselling Association (NDCA), the economic impact of Covid-19 is likely to result in even more missed payments this year.

Pre-festive promotions such as Black Friday and Cyber Monday, as retailers tried to make up for lost lockdown sales, woukd not have helped.

“As well as retailers encouraging spending, most people are on holiday and are spending more than usual. The result is that we often see consumers picking and choosing which debts to pay over the festive period” says NDCA chairperson Benay Sager.

Read the rest of the article on IOL.co.za

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