363,573 Belgians have defaulted on payments, all contract types included

363,573 Belgians defaulted on payments last year, according to the Belgian credit statistics for 2017.

They were drawn up by the Credit and Debt Observatory and quoted by the Sudpresse papers on Saturday. The number and percentage of defaulting borrowers dropped for the first time since 2007.

“For the first time since 2007, the number and percentage of defaulting borrowers, measured to show the difference between the number of defaulters and the total number of borrowers, dropped in every region in Belgium in 2017. This is for all credit contracts”, says economist Auguste Debroise.

“50,000 people in Brussels defaulted, as well as 135,000 in Flanders and 150,000 in Wallonia”, he said. “Out of the 363,573 people who defaulted on payments, 343,488 people were late paying consumer credit and 41,433 defaulted on their mortgage. Some defaulted on both”.

The author: Michel THEYS

Michel Theys, a Belgian native, began his career as a civil servant, serving the public for several decades. After retirement, he shifted gears to follow his passion for journalism. With a background in public administration, Theys brought a unique perspective to his reporting. His insightful articles, covering a wide array of topics, swiftly gained recognition. Today, Michel Theys is a respected journalist known for his balanced and thoughtful reporting in the Belgian media landscape.

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