Number of individuals unable to pay their debts and subject to legal proceedings is increasing
According to data from the Turkish Banks Association (TBB), the number of people under legal follow-up due to individual credit or credit card debt continued to rise. The TBB announced that the number of people under legal follow-up due to individual credit or credit card debt increased by 46% in August 2024 compared to the same month of the previous year.
Increase in legal follow-ups in 8 months
In the period between January and August 2024, the number of people who fell into legal follow-up due to individual credit card debt was 899,000. In the same period, the number of people under legal follow-up due to individual credit debt was 737,000.
Overall, during the January-August 2024 period, the number of people under legal follow-up due to individual credit or credit card debt increased by 39% compared to the same period of the previous year, reaching 1.213 million people.
A sharp increase in written-off debts
According to Risk Center data, as of August 2024, the amount of written-off individual loans, including credit cards, increased by 126% compared to the same period of the previous year, reaching 96 billion TL.
