Cape Town – The financial situation of South Africans creates the “perfect breeding ground” for abuse by credit providers, Summit Financial Partners CEO Clark Gardner told Parliament on Friday.
Gardner was one of a number of stakeholders who made representations before the Portfolio Committee on Trade and Industry about debt relief measures for over-indebted consumers.
The portfolio committee held a second round of deliberations on the debt situation in South Africa after a decision was taken earlier in the year to gain input from the public on the possibility of debt forgiveness.