The latest data released by the banking sector has revealed an increase in the number of citizens struggling to pay their credit card and personal loan debts. The number of people placed under legal follow-up for failing to pay their debts has recorded a double-digit increase on an annual basis.
While the pressure on household budgets continues due to rising living costs and financial hardship, credit cards have taken the lead in the increase of debt burdens.
RECEIVABLES TO BE LIQUIDATED EXCEED BILLIONS
The rise in the number of people falling into legal follow-up due to their inability to pay debts has also been reflected in the banks' non-performing loans. The balance of individual receivables to be liquidated has reached historic highs.
The debt repayment capacity of citizens, who struggle to balance their income and expenses in the face of rising costs of living, is also gradually narrowing. High interest rates and rising living costs make it difficult, especially for low-income groups, to pay their existing debts.
CREDIT CARD DEBTS RANK FIRST
The fact that citizens are resorting to credit cards more frequently to cover their daily expenses and meet their cash needs has also stood out in the distribution of non-performing loans.
The data revealed that a significant portion of debt files moved to legal follow-up originated from credit cards. Credit card debts were followed by receivables arising from individual consumer loans.
News Source: 12punto
