| Consumers drowning in debt |
| By Siphamandla Mbewa Massive escalations in debt are crippling South African consumers, with about 150 000 people expected to be under debt review by Christmas, according to the National Credit Regulator. Manager Peter Setou said 1.3 million South Africans had fallen into arrears, with 93 000 under debt review. Currently about 100 000 people who have sought debt counselling owe in the region of R20 billion, of which R12bn is mortgage debt. |
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When applying for debt review, you will be required to complete a Form 16 and submit it to us.
CLICK HERE to download your Form 16 now (PDF Format)
When submitting your Form 16 to us, you will also need to supply us with the following documentation before we will be able to submit your application:
- Copy of your South African ID book
- 3 months bank statements
- Copy of your payslip
- Statements of Accounts of all your debt obligations that you wish to submit for debt review
If you are married In Community of Property, your spouse will also be required to provide the above documentation, although you will only need to complete one application form.