Impact of consumer over-indebtedness on consumer wellbeing through a qualitative exploration in a South African setting
Teshani Devi Sewnunan ORCID ↗ · Sachin Suknunan ORCID ↗
International Journal of Research in Business and Social Science · 2026 · Vol. 15 / Issue 3 · 86-95
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Abstract
Global consumers are experiencing the adverse effects of over-indebtedness, which impacts their well-being. This study article emphasises the significant repercussions experienced by consumers regarding their welfare due to over-indebtedness. A qualitative research approach was employed to identify a deliberate sample of five registered debt counsellors and financial planners. Semi-structured interviews were employed, and theme qualitative analysis was performed. The results indicate that excessive debt adversely affects consumer well-being and quality of life. Inadequate financial well-being was recognised as the primary catalyst that exacerbated other issues for over-indebted consumers, including deteriorated physical and mental health. Moreover, stress and stigmatisation have been identified as detrimental consequences stemming from financial hardships. This article demonstrates that financial debt is correlated with and adversely affects consumer physical and mental well-being, highlighting the necessity for immediate solutions, including enhanced financial education and more robust laws.
Keywords: {'name': 'Consumer, over-indebtedness, wellbeing, stress, stigmatisation'}
Authors & affiliations
Teshani Devi Sewnunan
Durban University of Technology
Sachin Suknunan
University of KwaZulu-Natal
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