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Financial woes ahead

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Financial woes ahead

by Staff Reporter
18 Jan 2008
The Cape Flats Website
The Cape Flats Website

As the reality of the latest interest hike begins to settle in, consumers around the country are resorting to desparate measures to meet their monthly expenses.

Though there is a possibility that the interest rate hike will result in an increase in repossessions, banks report that it could take until August for them to take possession of a defaulters home.

Some economists also believe that the rates may increase yet again before things get better.

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