Bad credit a problem for more than 3 mil.

The number of people with poor credit ratings tops 3 million, according to a recent survey. The figure amounts to one-seventh of the nation`s total economically active population.The survey also found that more than half of those with poor credit ratings, other than companies and self-employed business people, got into trouble through credit car misuse.

The Financial Supervisory Service (FSS) said Thursday that the number of those facing restrictions in bank transactions came to 3,012,000 as of the end of March. They include 2,022,000 with poor credit ratings and 990,000 who are suffering credit defaults.

Specifically, 2,118,400 individuals and 184,900 companies were considered bad credit risks. Excluding companies and the self-employed, the figure came to 2,022,000.

FSS official Han Bok-Hwan said the public is suffering because financial institutions keep records for one to three years after deferred debts are paid and refuse to do business with anyone with a bad track record.