The number of applications for debt restructuring remains at record levels. During the first six months of the year, 17,458 people applied for debt restructuring, which is the same level as the corresponding period last year.
Compared to the first half of 2022, this is an increase of over 23 percent.
It has never been as high as it is now. It has essentially tripled since 2012. With the exception of one year, it has basically always increased since the debt restructuring law came into effect in 1994, says Per-Olof Lindh.
Tough for pensioners
A change compared to previous years is that older women stand out. Since the turn of the year, applications from women over 65 have increased by 13 percent.
They cannot go out and look for a job and affect their situation in the same way as other groups. They have basically only got an increased cost picture, and then it becomes tough with the daily economy. Normally, you should be able to manage on your pension.
At the same time, the number of applications in the 18-30 age group has decreased by 13 percent.
I'm not saying it's a trend break, but previously, the younger ones have accounted for the largest part of the increase. Here, we've done a lot when it comes to the information part.
Over half are rejected
Even though more and more people are applying for debt restructuring in general, the development is not as bleak as the figures.
One explanation for the record-high levels is that more people are turning to the Enforcement Authority with economic problems – despite not meeting the requirements for debt restructuring. Over six out of ten receive a rejection of their application.
Overall, it's roughly the same number as those who have received debt restructuring as it has been over the past six years. The increase is due to more people applying who are not eligible for debt restructuring. Maybe they're taking a chance without understanding the rules.
It's a lot about credit
Lindh emphasizes that the development still points to more people having economic challenges.
There are many in the older group who meet the requirements but who have not previously applied for debt restructuring, says Lindh.
The entire credit society has also changed quite dramatically. We shop a lot on credit and are an open market. There are a lot of things to look at from a societal perspective.
People with a debt that is so large that it cannot be repaid within a reasonable time can apply for so-called debt restructuring with the Enforcement Authority.
To be granted debt restructuring, the applicant must have control over income, expenses, and debts. They must also be able to show that efforts have been made to improve their economic situation.
This can, for example, be attempts to reduce costs and increase income or get a grip on a gambling addiction.
Source: Enforcement Authority
