Debt-Free Day: Average Debt Levels on the Rise, People Can Seek Advice from Experts

The average amount of debt has been steadily increasing, causing financial difficulties for many households. As part of the Debt-Free Day initiative, individuals burdened with debt can now take advantage of a toll-free helpline or a specialized website where experts can provide guidance and advice.

This year, the average debt amounts to 35,000 Czech koruna, which is nearly a fifth higher than the previous year’s average of 29,500 Czech koruna. Men are more likely to be among the debtors, accounting for 56% of the total. The average debt amount for men is 37,800 Czech koruna.

The highest number of debtors once again comes from the Moravian-Silesian Region, where they make up more than fifteen percent of the total. The average debt in this region is 32,500 Czech koruna. Debtors in Prague have the highest average debt, amounting to 42,000 Czech koruna, representing seven percent of all debtors.

These findings were reported by Kruk Česká a Slovenská republika, in collaboration with the Ministry of Labor and experts from non-profit organizations such as Charity ČR and the Association of Civic Advice Centers, on the occasion of the Debt-Free Day initiative. The most common reason for debt non-payment is unemployment and high loan repayments, which are closely related.

According to Jaroslava Palendalová, the CEO of Kruk Česká a Slovenská republika, people are increasingly finding themselves in situations where their reduced income is not sufficient to cover their expenses, leaving them unsure of how to proceed. “We aim to help these individuals,” she added.

A Toll-Free Helpline is Available

Throughout the month of November, people can utilize a toll-free helpline at 800 700 880 to seek advice or visit the website www.nasedluhy.cz to ask their questions. Additionally, individuals interested in obtaining a report from the Central Register of Executions can do so free of charge through a collaboration between Kruk Česká a Slovenská republika and the project Kolikmam.cz. This report provides information on whether there are any ongoing executions against them.

The initiative also extends its assistance to Ukrainian citizens, offering guidance on managing finances within the Czech environment and providing tips for borrowing money safely.

“Anyone can find themselves in difficult situations. It is therefore important to build and maintain a safety net that can catch and help individuals in need,” urged Daniel Krištof, the CEO of the Czech Ministry of Labor, inviting people to participate in the Debt-Free Day project.