n Professional Accountant - Employee assistance and the new National Credit Act

Volume 2009 Number 1
  • ISSN : 1680-7537


There can be no doubt that debt can be a major source of stress to employees in the workplace. Statistics show that South African consumers are taking on more debt than they can handle and with rising interest rates, consumers are feeling the pinch. Experts tell us that consumers are increasingly defaulting on short-term non-secured debt and statistics show that civil debt summonses have increased by more than 20% since last year. Coupled with increasing fuel costs and food inflation, South African households are under growing financial strain with their disposable incomes constantly diminishing.

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