The Covid-19 debt repayment holiday that most banks offered expired at the end of June.
A survey by the TransUnion credit bureau indicates that nine out of 10 respondents worry they won’t be able to repay their debt when it becomes due in less than two weeks’ time.
The TransUnion survey found that 16% of those surveyed lost their jobs since the start of the lockdown.  Some banks had plans in place to avoid defaults when the debt holiday expires such as consolidating clients’ debt into their home loans or using other investments as collateral.

Guest: Sylvia Walker, Financial Advisor
Topic: The payment holiday is over, now what?
Host: Africa Melane, Early Breakfast