24 February 2022 1 Min Read
FREE TO READ | Credit management faces many challenges
Rising inflation, tepid economic growth, record unemployment and higher interest rates will continue to constrain lending
in Business
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While rising interest rates can be a positive indicator of a strengthening economy, it is ultimately consumers who bear the brunt of the rising costs of their debt.
TransUnion’s Q4 Consumer Pulse Study showed that among consumers who said their household income is affected at present, 85% remained “highly concerned” about their ability to pay their bills and loans.
Credit providers will likely feel the effect of rising interest rates despite rising revenue as this may be offset by a likely rise in defaults.
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