Able Tracers & Debt Collectors offers professional and efficient debt collection in Port Elizabeth. Additionally, we provide debt collection services throughout South Africa, including the Eastern Cape, Border and Western Cape. We do not only do calls from our call centre, but also have a strong outside debt collector base successfully servicing all regions.
In this article, we take a look at current statistics reflecting the overall debt situation of South Africa.
The National Credit Regulator released the latest Credit Bureau Monitor and Consumer Credit Market Reports for the most recent quarter ending on the 30th of June 2018.
Information provided to the National Credit Regulator’s office by the Credit Bureaus is used to compile the Credit Bureau Monitor and Consumer Credit Market Reports. These reports are compiled and distributed every quarter.
The Credit Bureaus have reflected a reduction 876 000 in the total number of credit active consumers quarter-on-quarter and up to 197 000 year-on-year.
Furthermore, there has been a notable decrease (751 000 quarter-on-quarter) in consumers who have accounts that are more than 3 months in arrears.
There has been a drastic increase of 21.8% year-on-year in total enquiries that have been made on the Credit Bureaus while the rejection rate of credit applications is standing on 50.06% for the latest quarter.
The National Credit Regulator issues the Consumer Credit Market Report. This report is based on the returns which Credit Providers are obliged to submit.
The amount of credit that has been issued to the country has increased by R131.65 billion for the latest quarter ending in June 2018. This is a total increase of 8.25% compared to the previous quarter and a yearly increase of 9.63%.
The recent hike in fuel price and other costs will have a further impact on these already alarming statistics. As a result, consumers will be faced with bigger challenges when it comes to managing their debt.
Credit providing businesses are faced with the daunting possibility that their debtors may become unable to pay back their debts. This is where debt collection companies are able to step in and ensure that debt is effectively collected.
Hiring us for debt collection in Port Elizabeth will greatly minimise the financial impact on your business due to over-indebted consumers.
We strive to be one of the best debt collection agencies in South Africa by providing a professional, efficient collection service to private individuals and businesses alike.
Contact us for more information about our debt collection services and how we can assist your business.
Get the latest updates in your email box automatically.
Contact Us Now !