Consumers under pressure as debt applications hit record high

Resident Certified Financial Advisor, Paul Roelofse Consumers applying for loans and those in arrears have reached a high, according to data for the third quarter of 2024 released by the National Credit Regulator. The data, released on Tuesday, showed that there were 18.1-million applications for credit by consumers in the quarter. It was 3% more than the second quarter and up by nearly half since the end of 2021 when the economy was emerging from the Covid-19 pandemicSee omnystudio.com/listener for privacy information.