We’re spending more than we can afford, mainly due to online shopping and ‘buy now, pay later’ offers.
Debt collection agencies say people aged between 20 and 40 now make up the majority of cases, as deferred payment options make it easier to spend beyond their means.
Industry figures suggest unpaid invoices in Switzerland could reach CHF 13 bn francs by the end of next year.
Consumer groups say services offered by major online retailers and payment providers risk encouraging debt, particularly among younger adults with limited budgeting experience.
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