More unpaid debts – "Winter will be tough"

More and more people are having trouble paying back their debts. More debtors than before are being forced to set up a payment plan with debt collection companies, new statistics show.

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More unpaid debts – "Winter will be tough"
Photo: Fredrik Sandberg/ TT

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The number of debt collection claims has increased by around three percent during the period January-September, according to the latest monthly statistics from the industry organization Svensk inkasso. This means around seven million new cases.

More than half of the debt collection cases concern smaller amounts, i.e. under 1,000 kronor.

"Inflation has been defeated, but the high general price level persists. This, combined with the increasing unemployment, means that we expect the winter to be tough for many," says Fredrik Engström, chairman of Svensk inkasso.

Many who have fallen into debt traps manage to pay their debt collection claims on time and make an installment plan with the debt collection companies. Only in September, 60,000 new installment plans were established, an increase of 28 percent compared to the previous month.

"We want to avoid payment injunctions as far as possible and instead try to find a solution that prevents the debtor from ending up with the Enforcement Authority," says Fredrik Engström.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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