THE number of consumers with impaired credit records has risen in the three months to June, despite the National Credit Regulator’s (NCR’s) efforts in putting stringent affordability criteria in place.The NCR’s quarterly credit bureau monitor, released on Thursday, showed that of the 24.08-million people with lines of credit open, 9.67-million or 40.2% had impaired records. This rose 124,000 on the previous quarter.These customers were either more than three months late in paying their accounts, had adverse listings, or had judgment and administration orders granted against them.NCR CEO Nomsa Motshegare found the deterioration in consumer health disturbing."Consumers who are already battling with their debt repayments are advised to approach their credit providers to find an alternative arrangement," she said. "Alternatively, over-indebted consumers can approach the nearest debt counsellor for assistance."The NCR and its parent department, the Department of Trade and Industry, intro...
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