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The state of Credit in South Africa

the state of Thesedays everyone is effected by debt, we walk down the street, open a magazine or answer our phone and we are bombarded with loans, furniture, clothing, etc. All on "easy" terms. This infogram aims to break down the state of exposure to debt for the average South African Consumer Credit in the South African market Impaired Credit Records: 50% There are over 20 million credit consumers in South Africa, of these roughly 10 million have at least one account that is more than 3 months in arrears Debt to Income Ratio: 76% South Africans are, on average, paying 76% of their monthly income towards debt. The average consumer is very vulnerable to the slightest negative impact on the market, e.g.: Inflation, Electricity, Petrol Price, Interest Rates, Temporary Loss of Income, etc. There are also little funds availble for monthly living expenses, let alone any form of savings. %24 Credit Application Decline: 58% 58% of the Credit Applications last year were declined by the Creditors. This was BEFORE the lending criteria were further tightened by the National Credit Amendment Act in March 2015. Don't bank on qualifying for further loans. Rather take the responsible step and visit db Debt Counsellors and fix your debt problem once and for all. t) 0861999920 f) 0865725349 e) info@dbdc.co.za o) Suite 4002, the Towers, Vincent Park Centre, East London. w) http://dbdc.co.za/ + dbdcel lin, db Debt Counsellors TM @dbdcel db debt counsellors

The state of Credit in South Africa

shared by denverbright on Apr 10
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The South African credit market is in turmoil, this infographic aims to highlight some of the statistics

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Denver Bright

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Category

Economy
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