Consumers in Finland will find it increasingly difficult to pay their bills in the coming months, according to Swedish debt collection agency Intrum, Yle Broadcasting Corporation reports.
According to the agency, which is considered the industry leader in credit management services, providing services in 20 markets across Europe, the solvency of both Finnish consumers and companies has weakened significantly since the beginning of 2024. Judging from debt collection data, an increasing number of invoices required reminders or were additionally sent for collection.
More consumers in the Nordic country will soon find it difficult to pay their bills, Intrum warns.
According to a survey of payment methods, about a fifth of Finns believe they will have to leave their bills unpaid.
The solvency of individuals in Finland is steadily falling due to rising living costs, unemployment rates and bankruptcies, Yle noted.
As EADaily reported, it is becoming increasingly difficult for Finnish residents to manage their energy bills. Due to unpaid bills in January-March this year, 2126 insolvency records were recorded, which is significantly more than in the same period last year.
Finland is going through difficult economic times after joining the Western anti-Russian sanctions since 2022. The country is facing a record number of bankruptcies and rising unemployment.
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