Bloomberg News

Turks Borrow Again to Pay Off Credit-Card Debt, Vatan Reports

August 06, 2012

One in four credit-card users in Turkey fails to pay off card debt quickly and a 30 percent increase in consumer loans shows people borrow again later to pay it, Vatan newspaper said.

The newspaper cited a report by Istanbul’s Chamber of Accountants and Financial Advisers which says consumer loans jumped 154 percent over the past five years, to 172 billion liras ($97 billion). Click here for web link

To contact the reporters on this story: Selcuk Gokoluk in Istanbul at sgokoluk@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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