Dramatic increase in payment defaults by households
Payment defaults and other failures to meet debt commitments have increased sharply during the first part of 2007.
The financial daily Taloussanomat reports in its Friday issue that according to the credit information company Suomen Asiakastieto Oy, registered payment failures between January and April 2007 showed an increase of over 20 percent compared with the same time period a year earlier.
The most payment failure entries were caused by private individuals’ consumer credits. A year ago it seemed as though such entries were on a steady decline. The end of the year, however, saw a new upswing in the number of people living beyond their means and finding it impossible to meet payment deadlines.
In the whole of last year, the number of payment default entries increased by just over two per cent.
Helsingin Sanomat
