Some people pretend they are fine when they are really battling. They think they can fool others and even pretend to themselves that everything is okay. Look closer and you will see they sleep badly, are not themselves, lose their temper and become depressed. Their families and friends also suffer, they are not pleasant to be around. They are stressed. Of the 18 million credit active South Africans, 8.9 million have an adverse credit record. (That’s half of the economically active population!) This means that nearly 9 million people are at least three months in arrears with one or more accounts. On average 78% of household income goes to settle debt – leaving 22% on average to live on. South Africans are becoming more and more indebted. This is a big problem, but as you know, it is a secret problem, something we don’t talk about.
Debt is stressful but you can deal with it. I have assisted clients deal with their debt (and fix their credit record) for eleven years. I have come to understand that every one of those people who took action is now smiling again. The key was in taking action. You need to know that there is light at the end of the tunnel, you can become financially fit again. As with so many things in life, don’t just listen, take action now. Don’t let this chance slip by. Use this challenge to start to rebuild your finances and get out of debt. Become a role model, let something positive come from this experience. Show your children and others that, with determination and perseverance, you can become debt free. If you have been making excuses, stop. You owe it to yourself. Don’t get taken advantage of any longer – you do not belong to your creditors! You can get out of debt and get back to being all you were meant to be.”
Written by Stephen Logan, Independent Consumer Attorney