Delayed salaries and unemployment are the most common causes of late payments of debts, according to the Association of Collection Agencies in Bulgaria (ACAB).

According to ACAB statistics, 42% of the respondents cited the untimely payment of salaries as the reason for delaying the settlement of debts in 2012.

In 2011, 44% of the respondents attributed late payments to the irregular payment of their salaries.

Unemployment, however, has become more common, with 14% of the respondents attributing late payments to the loss of a job in 2011, compared to 17% in 2012.

Poor expense planning has also become an increasingly popular reason for the late settlement of debts.

Dimitrinka Grinko from the ACAB explains that people see mortgage payments as the most urgent.

"People keep paying mortgage loan installments as a priority, at the expense of credit cards, for instance. As regards utilities, electricity retains first spot in terms of collection, at the expense of smaller debts to Internet and cable television suppliers and companies that are not so strict about collecting their dues," Grinko says.

Debt collection experts say that the debtor is most often a 40-50 year old man, who is a middle manager or has a small company and wants to retain his pre-crisis living standards but cannot afford so much expenses.

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