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Loan defaults on the rise in TRNC

Loan defaults on the rise in TRNC

April 12
12:36 2013

Over the past seven years 74,773 cases related to loans have gone to court in the TRNC.

The economic downturn has meant that borrowers have not been able to repay their loans and have been taken to court. The largest proportion of these cases relates to banks taking their customers to court for defaulting on loan repayments.

Defaulter numbers have increased every year, with last year seeing the highest numbers.