Payment defaulters’ number hits 400K in June

The number of payment defaulters increased significantly in the country and reached to a record high by the end of June, reported national broadcaster Yle quoting credit information firm Suomen Asiakastieto.

The number of unpaid bills increased to 379,000 by the end of June, according to the credit information firm Suomen Asiakastieto.

The organisation sources said the number of defaulters was 6,700 higher than that in the corresponding period of 2017.

More than 50 per cent of the people were payment defaulters this year and on an average every person has 15 payments unpaid.

“It’s important to understand that the root of the problem is multiple indebtednesses. The same people have home mortgages, consumer credit, open credit cards, monthly-paid services and so on,” Jouni Muhonen Business Director Suomen Asiakastie told Yle.

Many people struggling with over-indebtedness also take out new loans in a bid to try and solve their debt problems, said the report, adding that unpaid bills can considerably affect the ability to conduct certain transactions such as acquiring a rental, get credit or purchase insurance.