Scary figures on credit cards! Increased by 39% in one year.

Due to the economic crisis and rising interest rates, the number of citizens borrowing from banks is steadily increasing. According to the data shared by the Turkish Banks Association, the number of people taken into legal proceedings due to credit and credit card debts increased in August compared to the same month of the previous year. In the first six months of 2024, 899,000 individuals were taken into legal proceedings due to personal credit card debt. During the same period, the number of people taken into legal proceedings due to the loans they took out was 737,000.

MORE THAN 1 MILLION PEOPLE WHO CANNOT PAY THEIR DEBTS HAVE ENTERED LEGAL PROCEEDINGS

Thus, in the first six months of the year, the number of people entering legal proceedings due to credit card and loan debts increased by 39% compared to the first six months of the previous year, reaching 1 million 213 thousand.

THE AMOUNT TO BE COLLECTED BY BANKS INCREASED BY 126%

The Risk Center's data for August 2024 highlighted the significant increase in debt ratios. Accordingly, the receivables to be liquidated in individual loans, including individual credit cards, increased by 126% compared to the same period last year, reaching 96 billion lira.