The company has launched its debt awareness month campaign through a virtual webinar.
Off the back of festive season spending, COVID-19 has also presented some problems for households that found themselves with even less money to spend.
DebtBusters’ COO, Benay Sager, said although inflation was at the bottom end of the Sarb’s target range at 3%, the reality for most people was that incomes were not going to increase.
In its latest quarterly report, Debtbusters said that consumers were facing massive debts, with many borrowing money to pay for necessities including food and transport.
