More Dutch hit the debt trap

29th January 2007, Comments 0 comments

A growing number of Dutch have trouble getting out of debt, while new loans are advertised on TV.

29 January 2007

AMSTERDAM — The number of people experiencing serious problems due to large debts on their credit and debit cards has doubled since last year, NOS reports.

A year ago, 46,000 Dutch people asked for financial help to reduce their debts. An average cardholder has had a minus EUR 22.000 balance on his account for years. 

Ger Jaarsma, Chairman of the Union of People's Credit Banks (Vereniging van Volkskredietbanken) is concerned. He says people get themselves into the trap due to lack of knowledge on how to handle money and making the wrong choices. 

Over recent years, the problem has only been aggravated by the cabinet's policies, he said. He also spoke criticised the abundant advertisement of loans and credits by the Dutch media.

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

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