Downgrades & Petrol Price Increases

Since the beginning of April many South Africans have been living with allot of negative sentiment. We have seen 2 of the major rating agencies, downgrading us to “junk status” and the impact of this will be start to felt over the coming months.

Today on the 3 May 2017 we have already seen petrol (49c) and diesel (30c) prices go up and the impact of this will not only be felt and the petrol stations, but also in food prices. With this double impact, more and more consumers will start to feel the debt burden become heavier and the good news is that we are here to help.

We have seen a major increase in people wanting to apply for debt review and this trend will only grow in the coming months and possibly years to come. It is very difficult for any country to come out of junk status and history teaches us that it can take anything from 1-12 years to fully recover.

With possible increases in the interest rate looking in the coming months, more people will fall into debt and will need help to get back unto their feet. Remember that we are here and can always contact us with any questions related to debt review and we will advise you what possible options you have available to you.

Simply contact us and one of our debt counsellors will help you sign up for debt review and get the process started for you to become debt free.

 

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