Are you one of the 2.7m women whose clothing accounts are in arrears?

2014-08-08 14:49

Forty-seven percent of credit-active South African women are in arrears with their clothing accounts, credit information firm TransUnion SA has said.

“In the second half of last year, more than 50% of these women were three months or more in arrears on these accounts. By the end of the first half of 2014, this figure had dropped to just under 47%,” said TransUnion SA manager Tersia van Rooyen.

“While this improvement is to be welcomed, when one looks at actual numbers the picture is less rosy. In effect, over 2.7 million women are currently in arrears on their clothing accounts.”

TransUnion SA found that women’s financial health was improving slightly.

Van Rooyen said that more than 40% of South African households were headed by women, so it was unfortunate that women were not as financially healthy as they could be.

She said women accounted for more than half (53%) of South Africa’s 18 million credit-active consumers.

The sharpest increase in delinquencies between the second half of 2013 and the first six months of 2014 occurred in the bank loan sector, where more than 175 000 women were three months or more in arrears.

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