# DebtBusters says South African consumers remain under serious financial pressure, with people applying for debt counselling needing 64-percent of their take-home pay to service debt. Its latest index shows that consumers earning more than 50-thousand-rand a month need 103-percent of their income to cover debt repayments. The average applicant now has 8.7 credit agreements, the highest level since 2016. DebtBusters executive head, Benay Sager, says rising costs, especially for electricity and petrol, are forcing more people to rely on personal and payday loans.
South Africans use 64% of take-home pay to service debt