The year just ended was financially tough for many Dachau residents due to the corona.
Many shops and restaurants were temporarily no longer allowed to open, and numerous people were on short-time work or became unemployed.
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It is financially tight for low-wage earners.
© Monika Skolimowska / dpa
Dachau
- Nevertheless, the overindebtedness rate in the Dachau district has decreased slightly compared to the previous year.
This can be traced back to the Debtor Atlas 2020 by the credit agency Creditreform.
The over-indebtedness rate, i.e. the proportion of over-indebted people in relation to all adults in the district, was 6.06 percent;
in 2019 it was 6.16 percent.
This means that a little more than six out of 100 district residents over the age of 18 were no longer in a position to pay the sum of their due payment obligations over a longer period of time and that they had neither assets nor credit options to cover their livelihoods.
According to Creditreform, the nationwide over-indebtedness rate is around ten percent.
Dachau ranks 33rd out of the 401 independent cities and districts nationwide.
In other words: Only in 32 districts was the rate even better or lower.
Incidentally, the front runner is Eichstätt with an over-indebtedness rate of only 4.0 percent.
The district of Munich is in 36th place with 6.16 percent, Fürstenfeldbruck in 40th place with 6.27 percent.
“The supposedly positive result is not, however, a sign of relaxation,” explains Patrik-Ludwig Hantzsch, Head of Economic Research at Creditreform.
At first glance, the current over-indebtedness development is paradoxical, since the corona pandemic and the protective measures decided by politicians have sent the economy into a deep recession.
"An end to the health-political and economic crisis situation is not foreseeable in view of the increasing number of infections - the direct and indirect consequences will be more serious for the economy, society and consumers than those of the global financial crisis in 2008 and 2009", continued Hantzsch.
"The measures to contain the Corona crisis mean that consumers in Germany have less money available," says Stephan Vila, Managing Director of Creditreform Boniversum and microm.
“Government relief efforts have mitigated the worst social impact.
And the increased propensity to save and spending cautiousness as well as greater reluctance to consume have ensured that there has not yet been a widespread liquidity bottleneck ", explains Vila.
Nevertheless, the situation is worrying.
The analysis of the development of over-indebtedness by federal states shows an almost consistently positive trend in 2020.
No federal state shows an increase in over-indebtedness cases in 2020.
In addition, 15 federal states show a decline in the over-indebtedness rate this year.
For the year that has just begun, however, Creditreform is assuming increasing over-indebtedness of low-income households: "The long-term prospects for the development of over-indebtedness are worrying, as the corona pandemic is also causing a further polarization of income and assets," explains Hantzsch.
Because: "The upper social classes, i.e. the high earners, can compensate for loss of income - they save more and at the same time exercise caution and consumer restraint." The lower social classes, however, have no or only very little financial reserves and a so-called negative savings rate - that is, they indebted and overindebted.
The result: There are already signs of financial overload in individual households in the city and district of Dachau, which will lead to an increase in over-indebtedness cases with a delay.
“We also expect a backlog in consumer insolvency proceedings.
That will lead to an additional increase in severe over-indebtedness cases, ”says Michael Goy-Yun, Managing Director of Creditreform Boniversum.
Bernhard Hirsch
List of rubric lists: © Monika Skolimowska / dpa
