Survey: 91% without positive view of lending
Nearly two-thirds of those responding to a survey by the Hungarian branch of personal loan provider Cofidis said that they are wary of hidden lending costs, the bank's quarterly loan monitor shows.
Only 9% of respondents had a positive view of lending, while 51% accept the notion of lending and 40% oppose it according to the survey in which Cofidis questioned 500 residents of Hungary. Some 66% cited hidden costs as a primary reason to avoid taking out loans.
Further findings showed that 49% of respondents between the ages of 18 and 69 reported that their standard of living had declined in 2013 as compared to 2012, while 11% reported that theirs had improved over that period.
A total of 52% of survey participants stated they had just enough money to purchase basic necessities, while 11% reported that they did not even have this much. A total of 4% of respondents said they are able to save money.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.