SA’s shocking debt spiral: Some forced to pawn cars

Cape Town - South Africans are so deep in debt that most of them have no idea how to get out of it, forcing the most desperate to pawn their cars.

“The first step you can and should take when you find yourself drowning in debt is to contact a debt counsellor to get a free credit report and find out your options,” recommended DebtBusters CEO Ian Wason.

The debt counselling business recently launched a hard-hitting advertising campaign, which sends an alarming warning of debt being passed down from parents to their children. It urges South Africans to get their debt under control.