European consumer debt and late payments on the rise

An annual survey by Intrum, the European Consumer Payment Report, reveals increasing financial pressure on European households. Data shows that 56 percent of European respondents used credit or credit cards to pay bills in the last six months, an 11 percentage point increase compared to the previous year. Additionally, the rate of late payments rose to 29 percent over the last 12 months, up from 24 percent a year ago.

Germany reported the most significant increase, with late payments jumping from 26 percent to 53 percent and 71 percent of consumers using credit to settle bills. The use of “buy now, pay later” (BNPL) services is utilized by 40 percent of Europeans, rising to nearly 60 percent in Germany.

In contrast, Hungarian households showed better indicators than the European average, with only 25 percent reporting late payments and 35 percent using credit for bills—the lowest among the surveyed countries. Despite these trends, 66 percent of respondents reported regularly setting money aside for savings, and 78 percent remain confident in their ability to cover essential expenses.