DEBT collectors in South Africa crossing the line

DEBT collectors in South Africa crossing the line

Credit reporting firm, Experian, is raising the red flag on unscrupulous debt collectors in South Africa. As most middle-class South Africans are all too aware, the cost of living only continues to increase. Since COVID, the prime interest rate has climbed from 7% to nearly 11%, and certain food prices have soared by 40%. Electricity is some 450% more expensive than it was a decade-and-a-half ago. Likewise, fuel prices have been tracking steadil…

Debt collectors in South Africa accused of overstepping boundaries

Credit reporting firm Experian has sounded the alarm on unscrupulous debt collectors operating in South Africa. With the cost of living climbing steadily, many middle-class South Africans are feeling the squeeze. Since the COVID-19 pandemic, the prime interest rate has jumped from 7% to nearly 11%, and some food prices have surged by 40%. Electricity now costs around 450% more than it did 15 years ago, while fuel prices have also risen consisten…