Overdue debt in Poland in 2016 came in at nearly PLN 54 billion while more than 2.3 million Poles do not repay their debts on time, says a report by vindication firm BIG InfoMonitor.
These “unreliable borrowers” make up about 7.4 percent of all Poles, up in 2016 from 6.5 percent in 2015, while their combined overdue debt rose by 26 percent.
On average, overdue debt – which included loans, bills, alimony and rent of at least PLN 200 that was more than 60 days overdue – grew from nearly PLN 20,800 to PLN 23,100.
“Debt growing faster than the number of borrowers may mean that some people who already had financial problems [in 2015] are falling into ever greater trouble, or that new debtors are suddenly unable to deal with large obligations,” said Sławomir Grzelczak, CEO of BIG InfoMonitor.
Overdue debts from unpaid bills and alimony are growing fastest, making up nearly half of all overdue debts, according to the report.
The report also said that Poles from the country’s west were less likely to pay their debts on time compared to those in the east, while men are less reliable borrowers than women and that the highest number of all debtors are aged 35-44.
Poland’s biggest debtor owes more than PLN 102 million (EUR 24 million), the report said.