Debt owed by Poles rises: study

In 2015, the total overdue amount reached PLN 589 million (EUR 136 mln, USD 153 mln), and has grown to PLN 1.49 bn this year, Poland’s PAP news agency reported, citing the National Debt Register.

Some 342,000 people have failed to make payments on their loans from non-bank lenders.

The average outstanding amount per debtor stands at PLN 4,500.

According to the register, Poles no longer opt for PLN 500 short-term loans and rather borrow amounts reaching PLN 15,000, with installments spread over a period of three to four years.

Jakub Kostecki, chief of the Kaczmarski Inkasso debt collection agency, said that modern technology has led to an increase in loans among Poles. He added: “Nowadays everything is done online, which naturally encourages [people], particularly the younger generations, to benefit from loans.”

Kostecki said that Poles aged between 26 and 35 comprise the age group with the largest debt, reaching PLN 335 mln in total.

(aba/pk)

Source: PAP