Household debt crushing Swedish people as they seek more debt restructuring.

Friday, 20 July 2012
The Swedish debt enforcement organisation, Kronofogden is forced to seek additional resources to cope with the influx of people applying for debt consolidation.

So far this year has 4887 requests have been generated compared to 3936 over the same period in 2011 - 25 percent increase.

"What we see is a drastic increase, "says operations manager Lena Bäcker, of the state owned bailiff organisation, Kronofogden to radio Sweden

Kronofogden estimates that around 400,000 people in Sweden are heavily indebted.
It would then not be strange to see that debt collectors such an Intrum Justitia are reporting unexpectedly high profits before tax of some Skr 185 million in second quarter. This is against Skr186 million same periods in the past.

Analyst had expected pre-tax profits for the company to reach Skr181 million.
The company reports that the result, in the business area, West Europe, includes a one-time positive impact of about Skr7 million.

Net sales amounted to Skr1.04 million against Skr977 million, which adjusted for currency gave a revenue growth of 7 percent, including 7.
By Scancomark.se Team

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