Credit card debt

With inflation driving up costs, global debts are nearing record highs at $305 trillion - around $45 trillion higher than pre-pandemic levels. Moreover, a worldwide recession has been warned for 2023 at the World Economic Forum earlier this year in the face of rising debt vulnerabilities.

Republican People's Party (CHP) leader and Nation Alliance's presidential candidate Kemal Kılıçdaroğlu has pledged the citizens to make regulations in order to ease the burden of credit card debts if he is elected as the president in the May 28 polls.

More than half of Turkey's teachers are fighting a debt burden, with one quarter doing extra work to make ends meet, according to a survey conducted by the teachers' union Eğitim-İş. 

Some 25 percent of the teachers are doing extra work and 60 percent of them are not hopeful for the future, the survey revealed. 

The Turkish government plans to ease consumer loan conditions to revive the declining domestic demand just ahead of the upcoming elections, according to a report in daily Hürriyet.

n this vein, banking watchdog BDDK has been asked to prepare a revision to extend payment terms in consumer loans from 36 months to 48 months, sources said. 

There isn’t a huge Halloween tradition in Turkey, and so I celebrated “witches’ holiday,” as we Turks call it, by watching M. Night Shyamalan’s “The Sixth Sense.”

Spending on loans and credits has become less alluring for Turkish consumers as figures reveal an annual decline in loan and credit card debt volumes Turkish society was introduced to features such as using consumer credit from banks and loans through credit cards mostly after 2003, with the phenomena quickly becoming a fixture in our lives.