A quarter of Slovaks do not know how to solve problems with loan repayment

According to analysts, amid the current period of high inflation and ever-increasing living costs, many people may find themselves unable to repay their loans. In such circumstances, three out of ten Slovaks would request a postponement or reduction of the repayment. However, one out of four people do not know how to proceed in such a case. This follows from a May survey by the Stem/Mark agency for Home Credit Slovakia. According to the survey, 17% of respondents would seek a loan from family or friends to deal with such a situation, 12% would try to find an additional or part-time job, and nine percent would try to limit their consumption and living expenses. A further seven percent would resort to selling part of their property or household equipment. While six percent of respondents said they would take another loan or refinance their property, many said that the current economic situation discourages them from taking any further loan.