More Loans – Less Payments
14.03.2014If in 2012 each tenth borrower who did not maintain his loans had two or more loans, in 2013 the number of such non-payers doubled. Now each fifth bad borrower transferred to recovery agencies does not pay for several loans at once.
According to information of National Recovery Service, in 2013 the share of debtors transferred to recovery agencies with two or more overdue debts amounted to 21.5%. In a year this indicator grew by 14 percentage points. Notably, the biggest deterioration of the payment discipline was reported for borrowers with two loans: the share of such borrowers increased by 8.8 percentage points and reached 15.4%. The share of borrowers with large number of overdue loans increased less dramatically: by 2.9 percentage points up to 3.6% – with three overdue loans; by 1.4 percentage points to 1.5% – with four; and by 0.9 percentage points to 1% – with five.
However, despite the fact that the number of borrowers with two loans is increasing, the average amount of their debt burden, on the contrary, decreased: in 2013 it amounted to 185,000 rubles in comparison to 192,000 rubles the year before. However, experts at NRS believe that in this case the decrease is caused merely by a significant rise in the number of new debtors in 2013. The debt amount for borrowers, failing to maintain more than three loans, the average amount of debt, on the contrary, increased: for borrowers with three and four loans – by 18% – up to 239,000 rubles and 328,000, rubles respectively, for borrowers maintaining more than five loans, by 12%, up to 372,000 rubles.
According to NRS specialists, the main reason for the increase in the number of debtors and debt burden is the consequences of the 2012 lending boom, when the lending market for population increased by record-breaking 39%. The second most popular reason for getting into the overdue category for several loans at the same time are cases when a borrower who overestimated his repayment capacity took a loan in another bank to refinance the existing debt. “As a result he ended up incapable of paying for both,” the company says.
In 2014, the market participants forecast further increase in the share of debtors with more than one loan processed by recovery agencies.