Consumer impaired records not improving on the back of rising living costs and debt
THE National Credit Regulator (NCR) is concerned over the credit health of South African consumers, given the continued rise in a number of impaired records on the back of rising living costs and debt, which have squeezed disposable income. This resonated well with the third quarter TransUnion credit health index which painted a similar depressing picture. NCR’s Consumer Credit Market Report (CCMR) for the second quarter showed the number of consumers with impaired records worsened by 161000 to 9.69 million, from 9.53 million in the previous quarter. The report said that as at the end of June, credit bureaus held records for 20.21 million creditactive consumers, an increase of 0.6%when compared to the 20.08 million in the previous quarter.
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