Jun
16

25 pct of borrowers have loan repayment problems

A survey by GfK showed that a a quarter of Estonians who have an outstanding loan have had a repayment problem in the last six months, writes Postimees.


According to the survey, a third of Estonians aged 15 to 74 said that they had an outstanding loan and 25 percent of them admitted to have repayment problems.


Mari Sööt, head of the Estonian division of GfK Custom Research Baltic, added that most respondents who admitted having loan repayment problems said it was connected with loss of job or a significant decline in income. 16 pct said that their living costs had increased notably.


14 pct of borrowers had a housing loan, 8 pct a credit card, 7 pct had consumer credit and 5 pct had leased a car and another 5 pct taken a student loan.


In most cases loan repayment problems concerned housing loans and consumer credit.


The typical borrower is a person with above-average income, full-time employees, businessmen, executives and specialists. The biggest group is people with higher education in the age group 26 to 45 years and residents of Tallinn.


None of the respondents said that they had taken an SMS loan to repay their loans.

Source http://balticbusinessnews.com/default2.aspx


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