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The Warsaw Voice » Business » September 17, 2008
Debt Market
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Market Powers Along
September 17, 2008   
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Piotr Krupa, chairman of KRUK SA, talks to Beata Gołębiewska.

How is the debt recovery market doing in Poland?
I don't have any worries about the way debt management is going in Poland. You need only look at the data the central bank published in July which shows a record rise in the rate of indebtedness of Polish households. Besides, this sector is sufficiently specialized to be cordoned off from the boom-bust cycle better than most, although debt collectors obviously have more work when the economy slows down.

Are there any new trends emerging?
Mortgage receivables, which have gone up steeply over the last few years, need to be managed better in Poland. As the mortgage debt portfolio is still growing, I believe that more receivables are going to be up for recovery in a year or two. Consumer finance-credit cards, cash loans, car loans and installment credit-is another area with good prospects.

Does this mean that good times lie ahead for the debt management market?
This sector is definitely still growing. People in Poland should get used to the fact that their debts are going to be sold off to debt collectors and debt securitization funds. This has been standard practice in the West for decades. By selling off irregular portfolios, banks minimize the risks associated with difficult debt, free up capital requirements and obtain resources for new loans. These transactions are now gaining momentum in Poland.
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