1887

n IMFO : Official Journal of the Institute of Municipal Finance Officers - The ever increasing debt book - why debtors aren't paying

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Abstract

According to the latest Momentum Household Wealth Index, South Africa's household liabilities are currently sitting at R1 603 billion. At the same time, debt servicing costs have increased to 17.9% from 12.6%, meaning that South Africans are largely in debt and spending more of their income to service debt than build wealth. Currently there are approximately 23 million credit-active consumers in South Africa, of which 45% have impaired records. For many credit providers, this 45% of consumers presents a challenge, especially when it comes to collecting outstanding debt.

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/content/imfo/15/4/EJC178964
2015-12-01
2016-12-04
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