More young people in Denmark are in debt

Alarming number of young people on RKI registry

More and more young people in Denmark are finding themselves in debt and on the dreaded RKI registry for bad payers.

In 24 of the nation’s 98 municipalities more than 10 percent of young people aged 18-30 are registered as bad payers, according to RKI’s figures.

“We see a lot of young people finish their education with considerable debt,” Frank Papsø, the corporate market director at data and statistics providers Experian, which is behind the RKI registry, told Politiken newspaper.

“They have a student loan from the state, often overdraft in their bank, a couple of quick loans and perhaps an apartment they are paying rent for. And then they want to travel the world and there is no-one really stopping them.”

READ MORE: Household debt levels soar, but is it a crisis?

Involved parents
It looks really bad in the municipalities of Lolland, Guldborgsund, Kalundborg and Odsherred where between every fifth and every seventh young citizen was on the RKI registry.

Papsø said there was a clear correlation between young people who are in debt and those who are spoiled by their parents, and he called on those parents to get more involved and confront them as soon as there is a sign of problems.