Record Numbers Seek Debt Rescheduling

A record number of people in Sweden are seeking to reschedule their debts, according to new figures by the Swedish Enforcement Agency. Already this year, more than 4,000 have applied to reschedule their debts, a 25 percent increase since last year.

Anna-Carin Gustaffson Åstrom, the head of the division that oversees such matters at the Agency, tells newspaper Dagens Nyheter that the increase has to do with the recession. But she says another reason is that the Agency has changed its rules.

People can now take on new debt just one year after rescheduling, rather than having to wait four, as was the case previously.