Consumer credit health drops

2013-06-18 18:32
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Johannesburg - Consumers' credit health has deteriorated in the past quarter, the National Credit Regulator (NCR) said on Tuesday.

The number of consumers classified in good standing decreased by 76 000 to 10.55 million between the quarter ended June 2013 and the previous quarter, it said in a statement.

The number of impaired accounts increased from 17.52m to 18.31m compared to the previous quarter, an increase of 790 000.

Consumers with an impaired credit record equalled 47.5% of total credit active consumers.

There were currently 20.08m credit-active consumers.

NCR CEO Nomsa Motshegare said the increase in the levels of impairment was of concern. She encouraged consumers to monitor their credit health and to approach credit providers and debt counsellors for help.

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