Johannesburg - The number of civil judgments recorded for debt in South Africa in October 2010 was down 23.0% year-on-year (y/y) after dropping 2.0% y/y in September, data from Statistics South Africa showed on Thursday.
In addition, the number of summonses issued for debt dropped 15.5% and the value of judgments was down 24.6% at R565m.
The three months ended October 2010 reflected an 8.1% decrease in the total number of civil summonses issued for debt, compared with the same period in 2009.
The major contributors to the 8.1% decrease were the money lent category (contributing -2.2 percentage points); the goods sold category (contributing -2.2 percentage points); and the promissory notes and other acknowledgements of debt category (contributing -1.9 percentage points).