71% drop in debt defaulters

It says that Wesbank reports that the number of applications for debt reviews decreased by 71% during the first seven months of this year indicating that the debt review process was working well but, more importantly, the people were managing to cope with their debts.

Chris de Kock, executive head of sales and marketing at Wesbank says the reduction was due to the stronger economy, legal clarification on the rights of credit providers and consumers as well as improved consumer education.

Read the Business Live report.
View the figures from Wesbank's Sales Confidence Indicator..