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Many use holiday money to pay debt collection debt

Christopher VogtChristopher Vogt,Kredinor.

With holiday pay and many getting money back from their taxes, June has become the most important month to “settle old debts”.

Kredinor received a total of NOK 420 million  in debt collection payments in June, an increase of around 15% compared to the average for the remaining months of 2016. The payments come from around 78,000 people and go to the repayment and termination of 110,000  debt collection cases.
The payments come from all the country’s provinces, but the western counties excels. The areas that have paid off more than normal are Hordaland, Rogaland, Vest-Agder and Møre og Romsdal. In addition, more people in Hedmark, Oppland, Buskerud and Nordland have paid off  debt collection debt in June 2016 than what was the case in June 2015. The increase in payments on the west coast may also be related to the fact that the number of debt collection cases has been higher than normal in these counties through much of 2015 and in the first half of 2016.

“All time high” in old cases
There is a division in Kredinor- Monitor- that is responsible for the long-term monitoring of their debt collection business. June has been the peak season for this department, who works on the surveillance and monitoring of  debt collection cases that are more than 3-6 months old and up to 15-20 years old.

-The total amount paid to us increased by 45% in June compared to a normal month,  Christopher Vogt, head of the department for monitoring in Kredinor, said. He says that more people than normal used their holiday money on getting rid of “old” debt collection debt. – This year we have been more proactive than in the past about the payment of holiday pay and this has been positive. We often find that debt collection debt can seem insurmountable for those who owe money. Many of the people we talk to are relieved when we contact them in order to find solutions, even where this has previously proven to be difficult, says Christopher Vogt.

Better economic existence
Lengthy payment problems means that those who owe money  get one or more payment defaults, which brings significant limitations both in terms of borrowing, credit purchases, new mobile subscriptions – and new job. The payment default is deleted once all of the debt has been collected  and then a new economic life can begin. – Our invitation to all who are in a difficult financial situation is to contact us before things become insuperable so that we  may find a solution,  Christopher Vogt says.


Source: Kredinor / Norway Today


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