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Estonians have been slow to recover loans

«You take someone else’s, and give your. Yes, and he took something on time, but you give for good … “Perhaps this is a simple and unpleasant thought, which was the basis of the old Soviet anecdote comes to mind growing number of borrowers, the Republic of Estonia. In any case, the recent significant increase in the number of unpaid public consumer loans and outstanding payments for goods purchased in installments.

If in 2008 the Estonian leasing companies, experiencing a real boom, sold goods on credit to 412 million kroons, the past – only 173 million. That is, turnover fell by two and a half times.

the same time, as the statistics show, increasing the number of so-called “bad” consumer loans, ie, those loans for which payments are not made at least a couple of months. Their number is compared with the beginning of 2008 has doubled.

possible that such a calm attitude to violate their own commitments and policies are dictated by some banks and many companies of the country, which in the case of regular arrears are in no hurry to confiscate, say, an expensive electronic equipment, but only legally formalize of debts .

Of course, it’s not in the special kindness of national lenders. Simply, the range in the stores is constantly updated and used electronics to find a new owner within the very limited domestic market is not so simple, and storage costs may eventually negate the intended benefit.

Something similar, but with quite a different order of numbers is with those who, through various forms of bank lending, acquired in previous years, real estate in the Republic.

During the past three years the price of it fell on average by half, resulting in tens of thousands of families were in debt trap. Nobody knows exactly at what number of people benefiting from housing loan, the unpaid balance exceeds the current value of real estate.

But, obviously, that the majority of perpetrators of such acquisitions in the period from summer 2005 to summer 2009 are now proved to be negative. And four years of such transactions in Estonia was signed about 190 thousand.