Poland’s seniors several billions in the red
PR dla Zagranicy
Alicja Baczyńska
01.10.2018 08:30
Polish senior citizens have collectively racked up a debt of PLN 7.3 billion (EUR 1.7 billion, USD 1.9 billion), according to new data.
Photo: sabinevanerp/pixabay.com/CC0 Creative Commons
Over 345,000 people aged 64 or over have failed to make payments on their loans, according to BIG InfoMonitor and the Credit Information Bureau, companies that collect data about debt, Poland's PAP news agency reported.
The average debt among people aged 64 or over stands at PLN 21,230.
The main reason behind debts are medical expenses. A study run by ARC Rynek i Opinia found that 66 percent of seniors said they took out loans to pay for their medication. Thirty-four percent spent their borrowings on private healthcare and physiotherapy.
Seniors are mainly behind on their payments on loans from banks and lending firms. Many also fall behind in rent, phone and utility bills.
(aba/vb)
Source: PAP