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Credit bureaus report increase in bad debt

8 Oct 2009

The National Credit Regulator (NCR) regulates and monitors registered credit bureaus and the quality of the data they create, based on credit information received from credit providers on a monthly basis.

As at the quarter ended June 2009, credit bureaus had records for 17.79 million credit-active consumers and produced the following debt profiles.

Percentage of consumers in good standing - 55.9%; decrease 1.7% compared to quarter ended March 2009 and 4.5% compared with quarter ended June 2008.
Consumers with impaired records - 7.85 million; deterioration of 390 000 to last quarter and 1.06 million year-on-year. This has been on the increase since June 2007.
Consumer credit records enquiries - 121.46 million; increase of 23.4% quarter-on-quarter
o Banks and other financial institutions - 39.4%
o Retailers - 14.2%
o Telecommunications providers - 23.7%
o Other - 22.7%
Credit reports issued to consumers increased; 33 662 free credit reports issued, an increase of 9.8% quarter-on-quarter. A further 5288 credit reports were issued with charge.
Disputes lodged - 7 072 disputes; quarter-on-quarter decrease of 15.5% and a year-on-year decrease of 26.8%.