National credit regulator warns of worsening indebtedness as payment holidays end
15 November 2021 – 19:07
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…