According to a study conducted by the Swedish multinational Intrum Justitia, the number of outstanding claims went up by 50 percent in Q3 over last year in Spain. The study on the recovery of outstanding quarterly debts shows that companies were more affected than the consumers, as loans for the companies went up by 40 percent against 28 percent for the consumers.                                                                                                                                           

The survey says that both the volume of debts and the amount the associated with them have gone up and that the situation is critical as outstanding loans were growing at a faster pace in comparison to credit reserves.

The data collected by Intrum Justitia also shows that a large part of repayments were irregular as the data for the recovery of payments shows a decline close to 40 percent on an average this year.

Related news articles:

1. Spain’s delinquent loan rate worst in 12 years
2. Heavy downpour raises Spain’s water reserves
3. The crisis in Spain; the worst is yet to come
4. Consumer Prices in Spain rise in November
5. 40 percent of the unemployed in Spain unlikely to find a job