At the end of March 2022, approximately 20 percent of outstanding financial liabilities reported in the ERIF database belonged to the young generation born after 1990. Moreover, statistics show that the debt of this group is steadily growing. However, an entry in the debtors' database may hinder their ability to function on the financial market, and even prevent them from making ordinary purchases over the Internet. However, modern, electronic communication channels can help to improve the debt and repayment statistics. 

"There are more and more young people who cannot cope with paying their obligations. After the first quarter of this year, almost every fifth overdue liability – i.e. more than 30 days past due – belongs to the young generation of people born after 1990. It is also worth noting that in recent quarters the share of liabilities belonging to this group has been steadily growing, while other liabilities belonging to generations X, Y and Baby Boomers have been stagnating or even decreasing," Edyta Szymczak, president of ERIF Biuro Informacji Gospodarczej, said.

At the end of the first quarter of 2022, ERIF's database contained over 1.5 million consumers with negative entries, i.e. information about payment arrears. The average value of such debt is approximately PLN 10,000 (excluding alimony debts). The statistics also show that problems with timely payment of debts more frequently affect women (21 percent) than men (18 percent), and that on average, every fifth debt listed in ERIF belongs to young people aged 20-30.

(Newseria)