Over 10 thousand debts 'restructured' in 2003

29/03/2004 10:00

In 2003, 10.5 thousand debtors were pronounced eligible for repayment with assistance under the debt restructuring act. This is 11 percent more than in 2002. About 15 percent of all cases involving debt repayment arrangements concerned private persons with a one-man business.

Definite debt repayment arrangements per 100 thousand inhabitants by province, 2003

Definite debt repayment arrangements per 100 thousand inhabitants by province, 2003

Many restructured debts in Flevoland

In 2003 an average 65 debt repayment schemes were pronounced per 100 thousand inhabitants. In relative terms most were pronounced in the province Flevoland: 164 per 100 thousand. In Zeeland the proportion was also high, at 98 per 100 thousand inhabitants. In Friesland on the other hand, the number of restructured debts was relatively low.

One-man businesses

On average in 2003, about 10 debts of one-man businesses were restructured per 100 thousand inhabitants. For this legal form, too, relatively most debt restructuring schemes were pronounced in Flevoland: 16 per 100 thousand inhabitants. The smallest proportion of repayment schemes for one-man businesses were pronounced in Zeeland.

Large municipalities

Relatively more debt restructuring schemes were pronounced in large than in small municipalities. In municipalities with more than 100 thousand inhabitants, 84 debt restructuring plans were pronounced per 100 thousand inhabitants, in municipalities with fewer than 20 thousand inhabitants this was 43.

Definite debt repayment arrangements by age of debtor, 2003

Definite debt repayment arrangements by age of debtor, 2003

Three-quarters of debtors younger than 45

In 7 percent of cases involving debt restructuring schemes, the debtors were younger than 25; in one third of cases they were aged between 25 and 34 years, and in one third again they were between 34 and 44 years. One quarter of debtors were 45 years or older.

Concluded restructuring arrangements, 2003

Concluded restructuring arrangements, 2003

Clean slate

More than 7.7 thousand debt restructuring schemes were ended in 2003. Nearly eight out of ten of these ended with a clean slate for the debtor. Just over 5 percent ended in bankruptcy.

Paul Adema

Source: StatLine (Dutch only)