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Number of women in payment default continues to grow

Over the course of a decade, the average amount of unpaid debt among women in Finland has grown from 9,000 euros to more than 14,000 euros.

Kuittien ja maksujen selvittelyä.
File photo of people paying bills. Image: AOP

The number of women who are in payment default has steadily grown over the past decade, according to figures released by Statistics Finland on Wednesday.

The statistics agency began tracking debt recovery statistics in 2008, when the effects of a global financial crisis hit Finland.

At the time, female payment defaulters accounted for 34 percent of all debtors, while at the end of last year that ratio grew to 39 percent.

Debt piles up

The average amount of debt for women has expanded over the past ten years from 9,000 euros to more than 14,000 euros. The average amount of overdue debt among men is higher, but has remained steady, at around 17,000 euros.

The number of those in payment default has grown steadily, every year since Statistics Finland began compiling data on the matter.

Last year, 580,000 Finnish residents were enroled in debt recovery programmes, around 80,000 more people than ten years ago.

The general profile of people in debt recovery are individuals of working age, with limited educations and live in single-person households, according to the statistics agency.

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