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Over-indebtedness: number of private bankruptcies is falling

2019-10-04T13:05:17.346Z


The number of insolvent private persons has fallen for the ninth consecutive year - but experts warn: Due to the meager economic situation could reverse the positive trend in the coming year.



People in Germany are becoming increasingly insolvent. This is clear from figures published by the financial information agency Crifbürgel.

The decrease compared to the same period last year is 1.4 percent. For the full year, the credit agency expects up to 88,000 personal bankruptcies, which is a drop of about 1,000 cases and marks the ninth consecutive decline. In the first half of 2019, the number of registered personal bankruptcies even dropped to its lowest level since 2004.

But the forecast for the coming year is not very positive. "We expect more private insolvencies in Germany again in 2020. The economic downturn is slowly leaving its mark on the labor market," said the managing director of the credit bureau, Christian Bock.

In the age groups of 31- to 40-year-olds as well as over-51-year-olds, personal bankruptcies even increased in the current year. Older people are above average often affected: Almost every third personal bankruptcy is registered by people over 51. People over the age of 61 also had to turn to the bankruptcy court more often. Their personal bankruptcies increased by 2.2 percent to 4,795 cases.

SPIEGEL TV about life with bankruptcy

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MIRROR TV

Source: spiegel

All business articles on 2019-10-04

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