Small loans driving consumers into financial distress: Association
The Credit Association of South Africa has warned that multiple small credit commitments, rather than one large loan, are pushing many consumers into financial distress.
CEO Leonie Van Pletzen says, “Honesty is very important because the affordability assessment is one of the strongest consumer protection actions that is available to the consumer.
So the consumer must really be honest about what they can afford and what they can actually pay.
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