Monday, February 11, 2008

Quick Loans Land More Finnish Debtors in Courts

The number of bad debts referred to the courts for legal action grew by 25 percent last year. During the course of 2007 some 194,000 bad debt matters were referred to district courts - that's 40,000 or 20 percent more than the previous year. A report in the Savon Sanomat newspaper quotes the Justice Ministry as saying that the growth in bad debts is due in large part to borrowers defaulting on instant loans.

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