More and more people are experiencing problems with credit repayments due to the energy crisis and the rising cost of living, according to the National Bank’s Central Consumer Credit Register, which records credit granted and payment problems in Belgium.
The number of new, outstanding loans in Belgium reached 75,935 in the first ten months of this year, compared to 69,354 in the corresponding period last year, according to the Register, which, in October, recorded 8,780 new outstanding credits, the highest number since May 2020.
While the total number of delinquent loans had been falling month-on-month since April 2020, this trend ended in October. Last month, there were 393,622 loans in arrears, representing over €2.128 billion in overdue payments.
However, this figure is still 6.6% lower than the previous year (421,614 loans in arrears).
The number of borrowers with at least one loan in arrears was 277,682 last month, a slight increase on September (277,564), but down 5.9% on October last year (295,166).
The percentage of borrowers in arrears fell from 4.8% to 4.5% in one year.
The average amount outstanding in October was €5,407 (+0.6% year-on-year). For consumer credit, it was €3,400 (+1.7%), while for mortgage loans, it was €39,387 (+0.5%).
