The financial category “money lent” accounted for R71.1 million in civil judgments for debt in September 2024, representing 23.8% of the total value of civil judgments recorded for the month.
Story Summary:
- Civil judgments for “money lent” totalled R71.1 million in September 2024, representing 23.8% of the overall value of judgments for debt.
- Civil debt cases also included significant judgments for services rendered (R74.3 million) and goods sold (R54.5 million).
- The issuance of civil summonses for debt decreased by 4.3% year-on-year, reflecting possible shifts in lending or repayment patterns.
Money lent totalled R71.1 million in September 2024
This category, which encompasses loans extended by individuals or financial institutions with an expectation of repayment, remains a significant contributor to the broader debt landscape in South Africa.
According to the latest Statistics South Africa (Stats SA) report, the high value highlights the reliance on borrowing in both personal and business contexts.
However, the legal actions arising from “money lent” also indicate persistent challenges with loan repayments, especially in a climate where household debt and financial stress remain prevalent.
Civil cases involving “money lent” often stem from disputes or defaults on loans, ranging from personal agreements to structured lending by credit providers.
These cases serve as an important reflection of the lending ecosystem, shedding light on repayment trends, credit availability, and the economic pressures faced by consumers.
Civil summons for debt in September 2024 – Here’s the complete breakdown
Civil cases for debt overall saw notable activity during September 2024.
Stats SA reported a total of R299 million in civil judgments for debt, with “money lent” ranking as one of the most prominent categories:
- Money Lent:
- R71.1 million in total value.
- Accounted for 23.8% of all judgments for debt in the month.
- Other Major Categories:
- Services Rendered: R74.3 million (24.9%).
- Goods Sold: R54.5 million (18.2%).
- Promissory Notes: R33.2 million (11.1%).
- Rent Due: R22.6 million (7.6%).
In terms of civil summonses issued, there was a 4.3% year-on-year decrease in summonses for all categories of debt.
This decline could suggest stricter lending practices or improved borrower repayment behaviours in response to financial pressures.
