Johannesburg – Debt counselling has created a significant increase in the amount of money consumers are paying off, Consumer Assist said earlier this week.

“What debt counsellors have been able to achieve are massive gifts to creditors – retailers and banks – in terms of repayments made by consumers that amount to just over R1,7-billion this year. And (they) have saved creditors millions that they don’t have to spend using debt collectors and lawyers to chase money,” said Consumer Assist chief executive officer Andre Snyman.

In October alone, those receiving debt counselling paid back R125,84-million to creditors. – Sapa