More than 10-million in SA have impaired credit records
National credit regulator warns of worsening indebtedness as payment holidays end
The national credit regulator (NCR) has warned that consumer indebtedness may worsen as the unwinding of payment holidays and debt-relief measures introduced in the midst of the Covid-19 pandemic forces borrowers to start repaying their debts.
In a Monday statement warning consumers to be wary of taking on too much debt, ahead of events such as Black Friday and the festive season, the NCR revealed that 10.07-million South Africans have impaired credit records. That equates to 38.41% of 26.22-million credit active consumers, with 16.14-million, or 61.59%, in good standing...