Media Release - December 2016

The festive season is upon us and like previous years, many people will fall into a debt trap by succumbing to the urge of spending money they don’t have. This year, we want to warn and educate consumers to be moneywise and be different so that they can enjoy a happy new year, says Mpho Ramapala, Manager: Education & Communication at the National Credit Regulator (NCR).

She says the festive season is aptly named the “silly season” because of a spending frenzy that appears to afflict people over this period. History has shown us that bonuses present a great temptation to continue buying things that they didn’t plan for. We strongly encourage people to stop, do a budget and plan their spending very carefully, especially over this period with a note that January is just around the corner with its expenses.”

NCR’s credit bureau monitor states that there are 24.08 million credit active consumers; 14.41 million (59.8%) are in good standing and 9.67 million (40.2%) have impaired records. An impaired record is a record on which a consumer and / or any of the accounts, are either classified as three or more payments or months in arrears, or which has an “adverse listing”, or that reflects a judgment or administration order.

Should consumers find that they are battling to pay their debts, Ramapala advises such consumers to contact their credit providers to negotiate lower repayments or to contact a debt counsellor for assistance. Debt counselling is meant for over-indebted consumers and it is not a free service, there are fees to be paid.

Below Ramapala shares tips of spending wisely during and after the festive season:


Issued by:


National Credit Regulator Tel: (011) 554 – 2722
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