Every second fast loan used to pay bills

The demand for small and fast short-term loans is growing and the payment of utility bills is an increasingly common reason for people to use such credits, data of Easy Credit showed, cited by Money.bg. In the period October-December, Easy Credit provided nearly 50,000 credits in Bulgaria - 28% more, compared to the same period of 2011. Nearly half of these credits were taken for the payment of bills. "During these months, especially in December, people sought our loans mostly due to the accumulation of costs associated with the payment of electricity and heating bills, holiday shopping and buying gifts," said Ina Ilieva, Director of Corporate Relations at Easy Credit.

Fast loans are becoming increasingly popular not only in relation with daily expenses of households. A small number of customers - less than 5% - celebrate and travel on credit, Easy Credit informed. Both genders use quick loans as a priority for bills payment, renovation and furnishing of the house, as well as working capital for family businesses. Women usually also spend these on health and education, while men use such loans for the repair of the family car and equipment purchases.

According to forecasts, the market of small and quick short-term loans will continue to grow rapidly throughout 2013. "We expect a 20% growth, given the planned expansion of our network of offices and credit counsellors with whose help we will reach even more people. Users themselves increasingly prefer our services because of the quickness, convenience and minimum application requirements," explained Ina Ilieva. Data of Easy Credit showed that an increasing number of people are using fast loans and these are active people, with regular and stable incomes, who have no time to waste on applying and waiting for consumer credits.

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