The Wealth Room

CNBC AFRICA: Preventing the retail credit nightmare

A South African retailer has been in the spotlight this year after charging a 60 year old man close to R18, 000 for a R6, 000 washing machine. The 36 month credit-based purchase agreement has been slammed by some debt experts as being reckless on the part of the retailer, but where does one draw the line between protecting both the interests of the consumer & the retailer? Joining CNBC Africa to talk about prevention of the Retail credit nightmare is Grant Van Zyl, Financial Planner, at HVZ Financial Consultants.