The National Credit Regulator (NCR) released the Consumer Credit Market Report (CCMR) and the Credit Bureau Monitor (CBM), which are based on data submitted by the registered credit providers and credit bureaus respectively. The latest edition of the reports covers credit market information from April 2023 to June 2023.  The interest rate cycle has been on an upward swing placing consumer’s payment obligations under severe financial pressure as a result of increased debt repayment installments. The NCR says consumers must not avoid credit providers when in distress. Supervisor at the Statistics and Research department at NCR, Bongani Gwexe elaborates..Insert- NCR

Journalist: Rene Julies
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