In the recent past, there has been an increase in the number of tempting messages that are being sent to people, inviting them to sign up for easy cash loan offers for the purchase of clothing, vehicles and other items. It is amazing that what you need to do to get quick access to cash is make a call, reply to a text message or sign on a certain dotted line. Every pay day, a huge percentage of the South African populace hands over massive amounts of their earnings to creditors. Such a situation is dire since many of such individuals are so indebted that they are forced to apply for debt review or counselling, all this in the wake of legislation that was designed to put a stop to such a trend. The enactment of the laws was after a study confirmed just how serious thing are. • Over 50 percent of the individuals who owe massive amounts are aged between 31 and 45 with an increase in the number of those below 25 who require debt review. • Close to 57 percent of persons with home loans are finding it tough to repay them • Almost 58 percent of people with outstanding credit card debt cannot pay it off • A majority of the population has a bank account, yet close to 38 percent of these persons is oblivious of the prevailing interest rates, and 22 percent are unaware of the banking fees they incur on a monthly basis. • For approximately 75 percent of the South African population, the end of the month is a time that finds them with no cash. • 19 million individuals use credit, but 50 percent or more of them have damaged credit and are as much as 3 months behind in repayments. Getting a cash loan is very easy in the country, yet a majority of the persons close to you (76%) are struggling financially. Various lenders are responsible in that they exercise due diligence before handing out cash to borrowers but a few of such institutions loan to almost everyone who shows interest, including persons who may find it difficult to make repayments. The fact is that both borrowers and lenders need to play their roles responsibly, meaning that financial institutions that offer credit facilities without carrying out the necessary checks are just creating disastrous situations, despite the presence of laws that are meant to put a stop to such occurrences. Consumers also need financial literacy since most of them do not read the fine lines when applying for loans. Besides, they assume that they can spend the amounts received aimlessly and worry about repayments at later dates. It is an endless cycle because soon, most realise that their earnings are lower than their debts.