Update on the South Africans who could have their debt written off – and how it could impact credit

[BusinessTech]

Update on the South Africans who could have their debt written off – and how it could impact credit

The new laws will have big consequences for thousands of ordinary South Africans and large parts of the finance sectors, says the SARB.

 

[Visser]

Easy, if this is to happen every few years, simply restrict or stop lending to low income groups in total.

 

[MirageF1]

can 'o worms

 

[dunkyd]

Might affect some new banks who lend to all and sundry....
Hopefully not another taxpayer bailout coming ?

 

[ToxicBunny]

If I was a bank at this point in time I would suspend all lending to people earning under 7500...
It doesn't stop the existing guys who are going to probably get off Scott free.. But it just limits the risk.