Kruk S.A.

Let us pay our debts now and  enjoy  Christmas together with our beloved ones

Bucharest, November 17th 2011 – KRUK international, top company in the receivables collection industry in Romania is urging the Romanians to celebrate today the Day without Debt. A day once a year dedicated to paying the accumulated debts we have to friends, companies or financial institutions, in general. The Day without Debt initiative is part of the educational platform “My Debt” launched by KRUK International in September 2011, aimed at offering support to the persons with debts by presenting the basic steps one has to make in their relation with the receivables collection company, inorder to solve the debts issue.

“17th November is a symbolic date, a date of all those who wish to settle their financial situation and pay  the accumulated debts. It is a great opportunity to honor these obligations. During our campaign we were contacted by over 50.000 persons and concluded over 7.000 payment arrangements, with a total value of approx. 90 million RON.  Each of this persons is thus closer, with each installment paid, to settling its debts and thus regaining peace of mind”, declared Isabela Iacob, Director General KRUK International.

The Day without Debt anniversary comes in the context when, due to the economic crisis, a loan – either from our friends or from a financial institution – is rather a necessity. 

According to an online survey, conducted by iVox company specialized in online research and commissioned by LRUK International, on a number of 4959 respondents, 40% of them have to borrow money 3-4 times per year, while 30% of them have the habit to borrow money monthly.
The respondents ask for financial help mostly from their close relatives - 42.4%, followed by close friends - 28.6%, other relatives - 14, 6% and 10.7% from the bank. Over 50% of the respondents borrow amounts between 400 and 3200 RON, while 35% borrow less than 400 RON, and about 13% turn to loans between 4000 and 8000 RON.

KRUK international helped tens of thousands of persons, who in 2010, by concluding payment arrangements in convenient installments have managed to re-enter the social and economic cycle.

Day without Debt was first celebrated in Poland in 2009, at the initiative of KRUK SA Group, the leader of the receivables management market, and is today at its third edition.

“The typical debtor has a paradoxical behavior: on one hand he is stressed by the debt incurred, while on the other hand he is reluctant to make contact with the receivables collection company. This attitude is mostly generated by the lack of knowledge about the methods used by these companies in order to achieve the common goal – of the debtor as well as of the collection company – that of settling  the debt.”, declared the sociologist Mircea Kivu.

We all like to enter the New Year without debts, and in December we have lots of expenses, we make presents to the family, do a lot of shopping, spend a lot celebrating Christmas, thus the 17th November is a moment of reflection on the best way to start the New Year with less debts, more confidence and peace of mind.