"The spike in short-term loans can be directly attributed to the NCA’s delayed implementation of amendments to their affordability rules."Payday loans, like every good thing in life, can result in debt problems if not managed correctly. The current debt crisis among South Africans is evident in more than 50 percent of credit-active consumers owing the majority of their salary to debt. Considering the problem, a payday loan should be considered an aid to the cure, which is better money- and debt-management.
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