100,000 Belgians reach ‘last resort’ with debts

Over-indebtedness is at an all-time high in Belgium: 325,000 Belgians are unable to pay their bills, writes Le Soir. The proportion of ‘bad’ borrowers is relatively stable at 5.2 percent, but the number of credits contracted is increasing. People struggling with debts can, as a last resort, turn to an employment tribunal for a collective debt settlement. In September, the number of Belgians in such a situation totalled 99,773 – 411 more than in August. People struggling with debts tend to have a specific profile, with half of them between the ages of 25 and 44, living as part of a couple taking home less than €1,250 a month each.