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823 Lithuanians have 10 or more debts, according to data from the credit bureau Creditinfo Lietuva.
However, the absolute debtor of the debts in Lithuania is considered to be a resident of the coast, who currently has not paid up to 209 bills. In total, Lithuanian debtors are delaying repayment of LTL 392.6 million. Eur: 69 percent men owed this amount, 31 percent. – woman.
“There are more debtors in Lithuania than in Klaipėda, the country’s third-largest city. This is a significant number, considering the consequences faced by people in debt, says Dovilė Krikščiukaitė, a lawyer at Creditinfo Lietuva.” Debtor residents in any company are They are among the riskiest customers that no creditor wants to deal with, making it difficult for those people to expect to get a mortgage, buy a car or even a mobile phone on installments. “
According to the lawyer, the information on already accumulated debts will be seen immediately by any company that seeks to evaluate the solvency of a person, having verified the data of a potential client in a credit bureau. Not only that, even after paying the debts, for several more years, the credit institutions can treat the client with extreme caution and monitor whether the resident’s financial discipline has improved.
It does not repay loans, it does not pay for electricity or water
“Residents often think that the credit bureau system only includes information on debts with banks or leasing companies, but they forget that all debts are registered: with telecommunications companies, electricity supply, utilities or companies of waste management. Even a small debt can cause a lot of inconvenience, “explains D. Krikščiukaitė.
According to the lawyer, the credit bureau system keeps records of each person’s debts for at least 10 years, and the usual practice of credit institutions shows that even a person who has settled arrears is monitored for at least two years to start paying for goods and services again.
Even the patience of the most patient creditors is broken: it announces decades of unpaid debt
A representative of the credit bureau advises to evaluate the invoices received in a very responsible way and inform the creditors in time if the person changes place of residence, by email. email address or phone number.
Otherwise, there is a risk of not receiving invoices and warnings, and information about accumulated arrears will be passed on to recovery companies. It remains to be guessed whether the anti-registration Lithuanian holder, a resident who failed to pay his bills, maliciously avoided paying or was unaware of the bills that were sent to him. In any case, for such a resident, almost no one will want to sell an asset or provide a service without prepayment.
“In practice, the rule is to notify the debtor 30 days in advance. If he does not pay before the due date, the debt is sent for recovery and the debt information is sent to the credit bureau. However, It is up to each company to decide how to call the debtors for settlement: send letters and short messages, call and invite them to settle in a pleasant way. There are companies that ten years later decide to finally deliver information about their debtors to the credit bureau and simultaneously publish all the debts that have accumulated over many years, ”explains Creditinfo lawyer Lietuva.
Debts range from a few cents to a million and a half euros
Data from the credit bureau shows that the total amount of delinquency by borrowers in Lithuania amounts to 392.6 million LTL. Eur is almost half of the amount that is additionally allocated in the Lithuanian budget this year to manage the consequences of the coronavirus pandemic.
The average amount of debt of a debtor in Lithuania is 1490 EUR, but people who owe a few cents and those who have not paid tens and hundreds of thousands of euros can enter the debtor lists. And the highest amount discovered per person in Lithuania is 4.6 million. EUR.
Therefore, a credit bureau attorney advises creditors to always check their financial discipline before entering into a contract with a new client to see if they are always settling accounts with other companies on time.
Men owe twice as much as women and pay debts more slowly
Analysis of borrower data shows that women tend to assess their financial obligations more responsibly. According to Creditinfo Lietuva, up to 69 percent. It is men who do not pay the full amount of debt in Lithuania, and 31 percent. the debt falls on women. On average, women pay their debts 3 months faster: the average number of days in arrears for men is 1,870 and for women, 1,765.
In this context, more women (53%) than men (44%) receive the highest A credit rating. Consequently, more men (11%) than women (7%) obtain the lowest E grade. Companies upload information about all Lithuanian residents who are actively using financial services to Creditinfo Lietuva’s information systems.
In any case, credit institutions evaluate each client individually, so we encourage residents to ask at least once a year if they have arrears, what information about them may have potential creditors “, advises the lawyer of the credit bureau.
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