Number of Debt Adjustment Beneficiaries Nears 100,000 in First Half Amid High Interest Rates

[Economy 365]

Amid high interest rates and inflation, the number of people who received debt adjustments in the first half of this year approached 100,000.

The number of confirmed debt adjustments by the Credit Counseling & Recovery Service reached 97,199, already exceeding half of last year's total.

The number of annual confirmed cases increased by 56.1% over three years, rising from approximately 121,000 in 2022 to about 189,000 last year.

In the first half of this year, the number of confirmed individual workout cases stood at 55,213, with 30,054 cases recorded in the second quarter alone, the highest for any quarter in the past five years.

Rapid debt adjustments, which target the early stages of delinquency, also increased, with older adults aged 60 and above and 70 and above accounting for 14.1% of the total.

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