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The Latest Debtfree DIGI

Tuesday, July 13, 2010

Are things getting better?

Gabriel Davel, CEO of the National Credit Regulator, recently said that nearly half (45.3%) of the 18.07 million credit-active, consumers on record are struggling to meet their debt obligations.

Further analysis shows the growth in the number of accounts falling within the three plus months’ arrears category has risen by just over half a million accounts to 10.16 million in the quarter ended December 2009. It does appear that the rate at which consumers are falling into the impaired record category is slowing.

The number of consumers with impaired records is still increasing, with an increase of 90,000 over the previous quarter and an increase of 880,000 over the previous year. However, the percentage increase is the lowest that it has been for 2 years, indicating that the level of debt stress may be easing.

And with the prospect of possible rate cuts ahead this should encourage consumers

Thanks to:
Issued by:
Bullion PR & Communication
Lola Lazarus

On behalf of:
National Credit Regulator
Lebogang Selibi
Tel: (011) 554-2722

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