Published 16 September 2021 at 06.12
Economics. Interest in debt restructuring has increased sharply in recent years, and a new record level was noted during the first six months of the year. The high proportion of indebted young people worries the Enforcement Officer.
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– We have never received so many applications before, says Per-Olof Lindh, unit manager at the Enforcement Officer, in a mailing.
Until the end of June, about 15,500 people applied, an increase of just over 200 people compared to the same period last year, which is again a new record. But as more people have opened their eyes to debt restructuring, the proportion of approved applications has decreased.
– Some who apply are not well enough prepared. You need to keep track of your income, expenses and debts. You also need to be able to show that you have made efforts to improve your situation, for example trying to increase income and reduce costs or come to terms with a gambling addiction, says Per-Olof Lindh and continues:
The number of young people, 18–30 years, who applied for debt restructuring, increased dramatically in 2020. This year, the application pressure has eased somewhat. But despite the reduction, the number of applications is still at a historically high level, and Per-Olof Lindh is worried about the development.
– I have worked at the Enforcement Officer for almost 30 years and I have not seen this before. It is serious that we see that so many young people have major financial problems, he says.
– Never before has it been so quick and easy to borrow money. We live in a society that is built around loans and debts, and to shop and play online. It is much easier to take on debt today than it was when I was young.