The solvency of Hungarians has temporarily improved and then deteriorated again last year: BISZ Central Credit Information Ltd. records more than 1.8 million defaults again.
Although the solvency of Hungarians finally improved in the first months of 2015, the process came to a halt in the second quarter and the situation deteriorated slightly again in the third and the fourth brought only a slight positive effect: 1 million 796 thousand retail omissions system (LCR, formerly interbank debt and credit system – bar). All this means that in 2015 as a whole, the number of defective retail contracts decreased by only 5.2 percent or 98 thousand.
What is LCR? The BISZ system contains 10.3 million retail and business contracts for 433 reference financial institutions. This portfolio is owned by more than 4.9 million individuals and 151,000 businesses. The LCR is a positive list of debtors, which records all loan and credit contracts and also records events, delinquencies, defaults, fraud, misuse of the contracts – a successor to the formerly known bar (Interbank Debtor and Credit Information System). . BAR was a negative list of debtors, so it only handled data on debtors who had defaulted on their loan agreements.
The credit market is still sluggish
The population’s sluggish borrowing indicates that the number of existing and systematic credit agreements is steadily decreasing: while in 2014 the number of such contracts decreased by 225 thousand, the first quarter of 2015 resulted in a decrease of 235 thousand and a second decrease of 101 thousand. The main reason for the process is that far fewer new contracts are entered into the system compared to outdated retail loan contracts.We expect the following credit products to be a hit in 2020:
In this case, we receive cash from the financial institution, which is not earmarked for spending, and the amount of credit available for overdrafts is higher. However, lenders often require higher incomes and take more time to raise. If you involve a debtor, a higher loan amount is also available.Used housing and 1-2 children will receive support, but those moving to a new apartment with three children will do very well. Starting in January, the new real estate market is up and running: three children can only get tens of millions, and tens of millions of cheap loans, if they buy a big home.
Commodity credit is the most widely available consumer loan. These loans are typically used to purchase commodities, and the advantage of being able to obtain lower income is that it can often be used at 0% interest and APR.