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Young Poles' indebtedness is increasing

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According to the Credit Information Bureau's "Credit Trends" report, the number of people with liabilities to loan companies increased by 24 thousand in the first half of 2017. About 80 percent of them also have bank loans. This creates the risk of some borrowers falling into a spiral debts by taking on more liabilities in companies loan. The interest in such companies results from the fact that banks are withdrawing from low-amount consumer loans.

– I don't think that the increase in debt is a negative symptom. What is more important is how young people behave when they lose the ability to service their obligations. Do they try to solve their problems or do they run away from them, hoping that they will solve themselves? Identifying the debt problem in its initial phase and dealing with it is possible with a small sacrifice on the part of the borrower. Sometimes it is enough to limit your eating or partying habits, get more involved in work and show a bit of strong will to overcome difficulties before they start to pile up.
– says Sławomir Anisimowicz, director at the PMR Restrukturyzacje SA law firm, which helps consumers with bankruptcy.

Sławomir Anisimowicz admits, however, that such simple solutions are often not possible. This happens when the borrower decides to take out a loan too late. problem solving or in the event of accidental events (illness, accident) that we have no influence on. Then excessive debt becomes difficult to eliminate.

– It is important to take decisive action then. First, try to reach an agreement with the creditors, and if it does not happen, use legal tools such as consumer bankruptcy. Such decisions are most often made by conscious consumers. Unfortunately, there are too few social initiatives that make young people (and not only them) aware that remaining in a state of excessive debt leads to being pushed to the margins of society, directly into grey zone
– adds a representative of the PMR law firm Restructuring SA.

As many as 25 percent of the loan sector's clients are under 25 years old. Many of them are unable to repay their debts. Over 567 thousand young Poles aged 18-34 already have a total of PLN 4.6 billion in arrears. debts non-credit – according to data from the BIG InfoMonitor Debtors Register. The situation is even worse in loans, where every eighth 18-34-year-old cannot cope with repayment. The number of debtors in arrears increased by over 86 thousand from March 2016 to March 2017.

The material was published on the telegraf.biz website:

on November 8, 2017:
» Young people's debt is growing
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