A third of Romanians have difficulties in repaying their debt, according to a research made by Polish debt recovery firm Kruk. The percentage is similar to those in Poland, Czech Republic and Slovakia.

There is a huge difference, however, in the way Romanians who face financial problems handle the situation, compared to other countries in the region. Only 25% of Romanians would ask their families for financial support, while 39% would first go to their employers.

About 80% of the Czechs and Slovaks and 55% of the Poles would ask their families for financial help, according to the same research, quoted by local Mediafax.

“Half of Romanians are not opened to share their financial problems with their life partners or with their adult children, because they fear these problems could affect the family atmosphere. About 41% think that they protect their families by not talking about these problems and two out of ten respondents are too proud or ashamed to share these issues,” said Iwona Slomska, board member for Kruk.

However, some 54% of Romanians would tell their minor children about their financial problems, thinking this to be a good method to teach them financial responsibility, but also a good way to make them aware they can’t afford certain things.

Polish group Kruk is one of the largest debt recovery firms on the Romanian market. The company managed EUR 1.56 billion worth of debt, in nominal terms, in the first nine months of this year.

editor@romania-insider.com