In the media, Uncategorized

Almost one fifth of all Czech families had some problems with the loan repayment

0 Comments 31 May 2012

More than half of adults consider loan to be a good solution when buying goods, services or dealing with financial liabilities. 79% of people declared personal experiences with the loan, with almost one fifth of families having problems with their repayment. This is the result of long-term survey carried buy Insurance company CARDIF PRO VITA, a. s..

And what are loans used for?

Housing reconstruction – 94% (mainly for people under 29)
Buying a car – 70%
Household appliances and electronics – 55%
Education – almost 50%
Health care – 38%
Refinancing other debts/loans – 13%
Holidays and travels – 8%

Problems with loan/debt repayment

More than 60% of respondents stated that if there was a shortfall in their income, they won’t be able to pay longer than for 3 months and one tenth, without having a regular income, won’t be able to pay even for the first month.

79% of Czech people have experiences with consumer loans and 17% of them had problems with repayment. Main reasons are:
Loss of employment – 90%
Serious illness – 87%
Sudden death – 70%
Car accident – 69%
Unexpected expenses – 65%
Divorce – over 50%

One of the solutions is payment protection insurance. But there are more things to be considered before taking a loan and some of them can be found here:
http://www.rozhlas.cz/zpravy/domaciekonomika/_zprava/stale-vice-domacnosti-ma-problemy-se-splacenim-pujcek–1058449 (only for Czech readers)

Click here to see the Data source:

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