© Siriporn Kaenseeya | Dreamstime.com
The number of people with debts in default continues to rise in Switzerland.
At the end of July 2019, 561,000 people, 6.5% of the population, were unable to service their debts according to the price comparison website comparis.ch.
The figures, based on data from the credit analysis company CRIF include those who have failed to make repayments and are being pursued by creditors or have declared bankruptcy.
The highest rates were in the cantons of Neuchâtel (10.9%) and Geneva (10.4%). At the other end of the spectrum were the cantons of Uri (3%) and Appenzell Innerrhoden (1.6%). The map below shows percentages by canton.
More and more adults are becoming accustomed to taking on debt, more concerned about having everything now than thinking about what will happen tomorrow or the day after, according to Michael Kuhn, an expert at Comparis.
In addition, around a third of those questioned did not realise the effect this behaviour could have on their credit rating. According to the company, around 13% of residents are refused credit.
Full story here Are you the author?
Tags: Editor's Choice,newsletter,Personal finance
