In one year, the total debt has increased by 16 percent and an additional 20,000 people have ended up with the Enforcement Authority.
A total of 436,996 private individuals were registered with the authority at the turn of the year.
The past two years have seen these dramatic increases, we have to go back to the 1990s for a similarly dramatic situation, says Davor Vuleta.
The age group that is increasing the most is people between 35 and 44 years old.
According to Vuleta, many also risk getting stuck with their debts for many years. Studies have shown that every fourth person who ends up with the Enforcement Authority is still there after five years.
Some remain for decades.
90,000 people have been stuck with us for 20 years or more. It becomes a vicious spiral that is difficult to get out of, says Davor Vuleta.
The fact that the total debt amount is skyrocketing also means that the debts per person are increasing, which also makes it harder to get out of, he says.
Serious situation
The median debt currently stands at 85,000 kronor and the largest item, nearly 92 billion kronor, consists of loans, credits, and consumption.
The development is due to the recent price increases in society, according to Davor Vuleta.
We have lived well for many years, then came inflation with interest rate hikes and it became very tough for those who had over-borrowed. Swedish households are having a very tough time economically.
It sometimes feels like you're repeating yourself, but for two years now, we've been saying time and time again that it's a very serious situation, he says.
The Enforcement Authority, however, expects the debt levels to start stabilizing now, unless something unforeseen happens.
Our forecasts say that it will peak in 2024. Now the economy is on its way to turning, people will have more money in their pockets, says Vuleta.
More information
Finance Minister Elisabeth Svantesson (M) says that she is not surprised that the debts have skyrocketed, but that it is worrying.
There have been some very tough years, and even before the high inflation, many had it tough.
Svantesson says that e-commerce has made the path to shopping much shorter.
Here, perhaps more information is needed, even though the Enforcement Authority works a lot with this. But it may also be needed in school, simply more information about personal finance, she says.
