Most debt review applicants are white individuals
Debt Counselling News:
A survey completed by one of the largest debt counselling companies in South Africa has shown that the majority of debt review applications are being completed by white males.
Of the 10000 applicants surveys by Consumer Assist, almost two thirds were men and a large majority of them were white.
Only about 30% of the men were black, and just over 20% of all males were coloured.
Education is still a major hurdle in getting black south africans to understand the benefits of the debt review process.
Andre Snyman, CEO of Consumer Assist, explained that White people are more likely to seek help to overcome debt problems while, black consumers would often shy away from debt counselling when they discovered they could not incur more debt until their debts were paid.