Wealthy Households Struggling With Debts

Some of South Africa’s high-flying households are struggling to pay their bills, the latest report by the credit record company Experian shows. In the three months to end-December, the top 2.5% of South Africa's credit active population saw total new defaults on debt repayments of more than R4 billion. Default is either when a debt has been unpaid for 90 days or more – or when the lender has written off the debt, or started to repossess or foreclose on the asset.