More than half of the economically active inhabitants of Latvia have credit obligations.According to the Central Statistical Bureau, in Latvia there are about 980,000 economically active residents aged 15 to 74, and according to the Bureau of Credit Information, 550 611 individuals have credit commitments.
Over the past year, the number of private lending contracts has increased by almost 10%. In the archive of the data of the Bureau of Credit Information there are records of 899 thousand active contracts of private persons, and 290 thousand private persons overdue their obligations.
“The volume of overdue contractual obligations of private individuals is significant: 110 thousand overdue contracts and 180 thousand overdue accounts for the maintenance of houses, electricity, garbage disposal, which means that practically every second resident of Latvia has some kind of debt,” explained Intars Mickelsons, the commercial director of Bureau of Credit Information.
According to the bureau, 73 thousand private persons overdue payments to licensed creditors, 128 thousand – accounts to enterprises that are not licensed creditors.
The founders of the Credit Information Bureau licensed in Latvia are the largest Latvian banks and the international credit information service group Creditinfo.