By Michelle Korte – 

A middle aged woman from Eastern  Cape,  has found herself  in huge debt after she took a  wadrobe, a bed  and cupboard from the furniture store Ellerines  under a 48 month payment plan by African Bank. The woman has  found  herself with a 240% price hike after the calculation of this interest was not explained to her. “The phenomenon of exploitation of consumer credit is a long-standing issue, and government has woken up to how perverse and extractive it is,” says Elroy Paulus, the national advocacy manager of Black Sash Trust.

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