Citizens' debt is multiplying: The number of people under legal proceedings by banks has exceeded 1 million
According to data from the Banks Association of Turkey, the number of citizens indebted to banks is rising rapidly due to the economic crisis and increasing interest rates. The number of people placed under legal proceedings in August showed an increase compared to the same month of the previous year.
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The number of citizens indebted to banks is steadily increasing due to the economic crisis and rising interest rates.
According to data shared by the Banks Association of Turkey, the number of people placed under legal proceedings due to loan and credit card debts increased in August compared to the same month of the previous year.
In the first 6 months of 2024, 899 thousand people were placed under legal proceedings due to individual credit card debt. The number of people placed under legal proceedings due to loan debts they had taken out during the same period was 737 thousand.
Thus, in the first six months of the year, the number of people entering legal proceedings due to credit card and loan debts increased by 39 percent compared to the first six months of the previous year, reaching 1 million 213 thousand.
The Risk Center's August 2024 data highlighted the serious increase in debt ratios. Accordingly, non-performing loans in individual credits, including individual credit cards, increased by 126 percent compared to the same period last year, rising to 96 billion liras.