Property owners suffer losses in rental and lease defaults, business owners bear the brunt of bad debts coupled with high interest rates, and exchange rates have a major impact on imports. Mr Beyers says that an upside to current trends is that South Africans are definitely becoming more attuned to their consumer legal rights, particularly with regard to personal and financial issues. People are less complacent about investigating legal avenues for a fair outcome in financial disputes. Instead of adopting a head in the sand attitude to matters such as erroneous credit ratings, questionable practices by retailers, poor service from suppliers or default on contractual obligations, more individuals are proactively seeking professional legal advice. It also appears to us that South Africans are becoming more astute about matters such as contracts.
People are no longer willing just to sign their personal or business documents without legal advice.