Number of people under legal proceedings exceeds 4.3 million: 915 thousand people unable to pay their debts in the first five months

Data from the Banks Association of Turkey (TBB) has revealed that the burden of legal proceedings for individual debts is growing. As of the end of May, when including files carried over from previous years, the number of unique individuals under ongoing legal proceedings at banks and asset management companies reached 4 million 371 thousand 613.

According to the data, the number of people under legal proceedings at banks and non-bank financial institutions was recorded as 2 million 768 thousand 412. The number of people whose debts were transferred to asset management companies and remain under follow-up was 2 million 270 thousand 787.

Since some individuals have debts under follow-up at both banks and asset management companies, the total number was calculated by deduplicating the figures. For this reason, the sum of the two separate categories appears higher than the number of unique individuals.

The number of people who fell under legal proceedings because they could not pay their debts in the first five months of the year also drew attention. In the January-May period, 680 thousand 913 people were placed under legal proceedings due to credit card debt, and 514 thousand 978 people due to personal loan debt.

During the same period, the number of people who could not pay at least one of their credit card or personal loan debts was announced as 915 thousand 263. The data shows that high indebtedness and payment difficulties are increasing the pressure on households.