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Clothing Account Debt Among Women – CNBC Africa

Clothing Account Debt among Women – CNBC Africa

Clothing Account Debt among Women

In this CNBC Africa article Wikus Olivier, debt counsellor at DebtSafe, talks about clothing account debt among women.

When it comes to the statistics, women and men’s clothing account debt is fairly similar. In the past stores would send clothing accounts through the post. Making it very easy for young adults to open a clothing account.

Although many clothing accounts are interest free for the first six months it can go up to over 20% in interest thereafter. Leading to serious debt for many young women and men. Many over-indebted consumers’ problems with debt began with a clothing account.

In the article Wikus discusses not only about clothing account debt among women, but amongst society as a whole. Wikus also gives great advice on how to get out of debt and how to manage a clothing account properly.