Unpaid loans
26/07/2011 16:10
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The increased inability of the citizens and businesses to repay loans
was confirmed also by the bigger number of requests that banks have made
for collateral executions. The bailiffs say that the number of court orders
has increased.
Bailiffs also declare that these collateral executions are not only against individuals, but also against businesses, even from the construction industry, who have unpaid debts.
Since this January, the Albanian state does not have the monopoly of the bailiff office. Now there are different private bailiffs, so called “alternative services”. They say that the cooperation with the Police is working, but the greatest problem remains at court.
Bad loans have increased in the last two years, reaching 15% of the total. According to the Ministry of Finances, banks have 20 billion frozen ALL in judicial processes deriving from unpaid loans.
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