An accident or a serious illness: There are many reasons why people can become over-indebted. A certain group of people appears to be particularly at risk.
People living alone seek help from debt counseling more often than other population groups. More than every second person seeking advice (51 percent) last year lived alone in a household, according to the Federal Statistical Office. According to the most recent census, however, the proportion of single households in Germany is only 43.4 percent. On average, singles had slightly less debt, at 29,738 euros, than the total debt of those receiving advice, at 31,749 euros.
The men living alone had an average of 31,792 euros in debt, which was 5,328 euros more than the women. Men were also more in debt in relation to their income: they needed 28 net monthly incomes to pay off their debts. According to this calculation, women would be debt-free four months earlier.
Over-indebtedness is often caused by illness, addiction or accidents. Losing a job or separating from a partner also drives not only singles into the red. People are particularly often (57 percent) in debt to public creditors such as the employment agency, health insurance or pension insurance. Telecommunications companies are in second place with 49 percent, followed by business people. 30 percent of those seeking advice have debts to mail order companies.
Destatis Communication Over-indebtedness 2023
Source: Stern
