{"id":50487,"date":"2013-12-04T17:30:26","date_gmt":"2013-12-04T15:30:26","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=50487"},"modified":"2013-12-04T17:31:31","modified_gmt":"2013-12-04T15:31:31","slug":"sa-consumers-drowning-in-debt","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/50487\/sa-consumers-drowning-in-debt\/","title":{"rendered":"SA consumers drowning in debt"},"content":{"rendered":"<p><a title=\"Nomsa Motshegare\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/8975-Nomsa-Motshegare\">Nomsa Motshegare<\/a>, CEO of the\u00a0<a title=\"National Credit Regulator\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/8976-National-Credit-Regulator-NCR\">National Credit Regulator<\/a>,\u00a0has warned against the reckless spending over the festive season after statistics published by the credit bureau for the quarter ended September 2013 indicate that consumers are drowning in debt.<\/p>\n<p>Credit bureaus held records for 20.29 million credit-active consumers, an increase of 0.4% when compared to the 20.21 million in the previous quarter.<\/p>\n<p>Consumers classified in good standing increased by 9,000, to 10.53 million consumers.<\/p>\n<p>As a percentage of the total number of credit-active consumers at 51.9%, this reflects a decrease of 0.1% quarter-on-quarter and 1.1% year-on-year.<\/p>\n<p>The number of consumers with impaired records increased by 71,000 to 9.76 million, from 9.69 million in the previous quarter.<\/p>\n<p>The number of accounts decreased from 71.20 million in the previous quarter to 71.17 million.<\/p>\n<p>The number of impaired accounts increased from 18.87 million to 19.25 million when compared to the previous quarter, an increase of 375,000 quarter-on-quarter and 1.99 million year-on-year.<\/p>\n<p>A total of 357.65 million enquiries were made on consumer credit records, a decrease of 0.7% quarter-on-quarter and an increase of 11.5% year-on-year.<\/p>\n<p>Enquiries initiated by consumers accounted for 16.16 million of all enquiries, an increase of 1.6% quarter-on-quarter and 1.5% year-on-year.<\/p>\n<p>Of the total enquiries made on consumer records, enquiries from banks and other financial institutions accounted for 85.1%, enquiries from retailers accounted for 3.2% and enquiries from telecommunication providers accounted for 4.6%.<\/p>\n<p>Banks and other financial institutions&#8217; enquiries decreased by 0.2% from the previous quarter, retailers decreased by 43.3% and telecommunication providers increased by 12.1%.<\/p>\n<h3 class=\"my-4\">More on South Africa\u2019s credit standing<\/h3>\n<p><a title=\"Telco credit checks decrease by 10.7%\" href=\"http:\/\/businesstech.co.za\/news\/telecommunications\/40183\/telco-credit-checks-decrease-by-10-7\/\"><strong>Telco credit checks decrease by 10.7%<\/strong><\/a><\/p>\n<p><a title=\"Want a job? Move to Gauteng\" href=\"http:\/\/businesstech.co.za\/news\/general\/39872\/want-a-job-move-to-gauteng\/\"><strong>Want a job? Move to Gauteng<\/strong><\/a><\/p>\n<p><a title=\"Competition heats up for IT, telecoms jobs\" href=\"http:\/\/businesstech.co.za\/news\/it-services\/39709\/competition-heats-up-for-it-telecoms-jobs\/\"><strong>Competition heats up for IT, telecoms jobs<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Statistics published by the credit bureau for the quarter ended September 2013 indicate that consumers are drowning in debt.<\/p>\n","protected":false},"author":10,"featured_media":18685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[25,6088,6089],"class_list":["post-50487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-active","tag-national-credit-regulator","tag-nomsa-motshegare"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/50487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=50487"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/50487\/revisions"}],"predecessor-version":[{"id":50488,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/50487\/revisions\/50488"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/18685"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=50487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=50487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=50487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}