One-fourth of European consumers take loans to cover monthly expenses and are not able to cover that debt, says Andres Rubio, CEO of Intrum, a debt-collecting company. “A quarter of European consumers manage to save money at the end of the month, 50% breakeven, and another 25% have to ask for loans to cover their regular expenses: our 25 million customers belong to this last group, people who are struggling and unable to repay what they owe,” Rubio told Italian daily Corriere della Sera.
Intrum is Europe’s largest credit management company, with 75,000 corporate clients, and a portfolio of $200 billion in loans. “Every year, we help 5 million customers pay off their debts and re-enter the financial community, for example by regaining access to bank accounts and credit,” Rubio said.
