Business Report:
“The total number of insolvencies recorded for August 2008 increased by 17,7 percent – from 198 to 233 – when compared with August 2007, Statistics SA (Stats SA) said on Tuesday.
The total number of insolvencies recorded for the eight months ended August 2008 increased by 47.8 percent – from 1 276 to 1 886 – compared with the eight months ended August 2007, Stats SA added.
T-SEC economist Mike Schussler said the high number of insolvencies indicated that people were getting into “real trouble” in spite of the debt counselling that was …