The Terdosgonofers Loan has now released statistics on how many borrowers have taken micro-loans and had problems repaying them in 2012.
Unfortunately, these statistics show that the number of cases received has increased by as much as 62% since 2011. Consequently, 2012 was the worst year so far in this type of case. The previous record was from 2009 and this was now beaten with about 7,000 cases.
Otherwise, the number of people who have had problems with micro-loans has decreased quite sharply in the past two years. But for some reason, they gained momentum again in 2012. Which must be seen as very negative.
Terdosgonofers Loan also released statistics on the age of those who ended up with Terdosgonofers Loan and here it turns out that it is people aged 26 – 35 who are the largest group with 29% of the cases. After that, it is actually people between 36 – 45 years who come with 23%. This is a little different from what you get for any opinion from the media that talks about young people all the time. The young people, who are people up to 25 years, account for 21%, making them the third largest group.
Not that it is good that some people end up at Terdosgonofers Loan, but it is also nice to see that younger people are not as over-represented anymore.
Of course, the fact that 53,709 micro-loans are not paid is a very poor statistic and something that needs to be fixed. A small loan of this kind should not have the effect of affecting someone’s finances so much that it causes further problems for several years.
I have said many times that I think it’s okay with this type of loan. If you think it is worth paying a fairly high price to borrow money for a shorter time then you should do it.
What needs to get better, however, is the control over who can borrow. If you do not have a sufficiently good finances, you should also not be approved for a loan application. Something that it is clearly lacking in.