According to the credit bureau Veda Advantage, the number people failing to pay their bills grew up nearly by 18% in the first three quarters of this year compared to the previous year.

John Roberts, the managing director of Veda Advantage assumed tens of thousands of people were ruling that they could not reimburse their bills in time and they were going in to amount overdue and in that case sighting their credit record was exaggerated.

Mr. Roberts said that the defaults stayed on credit reports for five years and would have a big negative impact on the people trying to obtain credit during that period.

Meanwhile around 336,716 firms had huge debts which represented about half of the trading companies of the country. The most concerning aspect was that 12.2 million dollars of the debt was overdue by almost 90 to 120 days.

The providers of goods and services had listed the unpaid bills with Veda Advantage when the companies failed after 30 days. Consumer resistance to the credit cards continued with applications for the nine months to September in this year down by 13.35% compared to the same time period of last year.