Do you have a debt? Survey carried out within the “Think Twice, debt is a serious issue” international project

The survey is: Based on 29 questions, divided into 4 sections: - Do you have debt? - If your credit is from a bank? - If your credit is from non-bank institution? - General information about you.

Do you have debt?

To how many institutions?

To what type of institutions?

Have you ever trusted to advisors for instant credits?

What part of the monthly budget of your family is your monthly utility costs bill?

What part of the monthly budget of your family is your monthly bill for mobile phone?

Do you manage to serve timely your credit/ debt?

Summary of section “Do you have debt?”  The survey results so far indicates in all country people have debts.  Due to the reason the survey was conducted with random people the partnership can’t and don’t insist the results are representative for the different countries as a whole.  Most people who have debt are indebted to only one institution although it is not clear how many different loans could be in place within that one institution. Deviation from this finding can be seen only in Netherland and United Kingdom.

Summary of section “Do you have debt?”  The type of institutions people borrow money from are nearly equal between bank and non-bank institutions. There are almost no delay in the utility bills payment. This is due to the fact that the monthly utility costs bills are negligible in all countries.  The most interesting finding is that people don’t trust instant credit advisors.

What is your monthly payment? Related to this question a lot of numbers were given. They can’t be compared due to the different country’s way of life and currencies; One thing can be estimated: These figures are as follows – higher figures presumably related to mortgages.

How many banks did you research before choosing from which one to get your credit?

If you visited more then 1 bank, did you manage to compare by yourself the terms of credits by the different banks?

Did you manage to find out the overvaluation of the loan before singing the contract with the bank?

Did you receive repayment plan with granting the loan?

How many banks offered you a draft credit agreement before taking the final decision on this?

Which clause of the credit agreement between you and the bank, did you find in consequence as most disadvantageous for you (describe)? Different answers were given:  The penalty for default in payments;  Interest rate change;  Problems with the monthly payments;  Selling the debt to a third party;  Being unable to repay the whole amount at any time without paying extra high fees;

What part of the monthly budget of your family is your monthly credit payment

The credit is intended for * In Italy in most cases the credit is intended to buy a new house, rarely to buy a new car or to renovate the house.

Credit is granted as:

Do you manage to serve this loan?

Because of the “YES” answers to the previous question, when asked “If you have answered on the previous question with "No" and you want to change the status, would you accept help for reorganization of your credit?” most people left the question with no answer. Only in Bulgaria (88%), Italy (100%) and Netherland (100%) said “YES”.

Summary of section “If your credit is from a bank?”  People investigate different institutions, both banks and non-banks, before getting a loan;  They have all the information they need (credit agreement and repayment plan) before they choose from where to get the loan;  Even thought they have all the information and they do understand it they still use between ½ and ¼ of their incomes to repay the debt!!!  And they manage to serve it on time!

Summary of section “If your credit is from a non-bank institutions?”  People from Bulgaria, United Kingdom, Italy and Slovenia answered to questions 21-25;  It can be summarized that almost all of them can serve their loans on time, thanks to the fact the monthly payments are between ½ and 1.4 of the monthly family budget or less;  The ones that can’t serve the loan will be glad to get any help on it

General for you: In most countries the men and women took part in the survey are equal; People from all age groups took part in the survey; Most respondents are with master or bachelor degree; less are with high school or even less education; We have respondents both working, and not working people, students and few retired.