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Almost 70 per cent give more than half of salary to banks
Croatian Times
Some 70 per cent of citizens in Croatia have monthly credit repayments which are more than half the amount of their monthly salaries, according to a survey conducted recently by Franak Assocciation, an organisation set up to protect the rights of citizens with loan contracts with commercial banks in Croatia.
The survey found that 35.4 per cent of respondents had to repay between 50 and 75 per cent of their monthly income to the banks for loans they had, while 32.24 per cent of the respondents had to put aside more than 75 per cent of their monthly income to service their loans.
Particularly shocking also is the fact that 34 per cent of people have had experiences where their monthly loan repayment amount is higher than their monthly income. The results of the survey show that in one third of the cases, those who took out loans did not have a choice of banks, but for various reasons only had the option of the bank which they took the loan out with. Most often this was because an employer or the investor in a property project would dictate the choice of banks, reported website net.hr.
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Joe wrote on 13. 03. 2012 from Zagreb
They fail to mention in article that this survey was done amongst people that bought into the Swiss Frank scheme some years back, not a reflection of the population at large. A big difference between the two!
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