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Older South Africans struggling with debt are being warned to beware of unsolicited offers promising to slash their monthly repayments as unscrupulous operators may place them under debt review without their knowledge or consent.
FNB executive head of collections Patricia Temba said pensioners must understand the consequences of debt review before signing documents or agreeing to repayment arrangements.
She said older consumers living on fixed retirement incomes are particularly vulnerable to promises of financial relief, especially when debt continues to eat into their limited monthly incomes.
According to FNB’s…