Living costs increase
Older people are particularly affected: significantly more private bankruptcies
The increasing poverty in old age can also be read on debt statistics. Many people have to file for bankruptcy in the face of increased costs.
The number of private bankruptcies in Germany rose sharply last year. 99,991 private bankruptcies meant an increase of 6.6 percent compared to the previous year, as reported by the Hamburg Economic Outside Croll.
The experts still see the effects of high inflation after the Russian attack on Ukraine. “Above all, the sharp increased energy prices and higher food prices have led to higher living costs. The financial situation of many private individuals in Germany remains tense due to the steadily increasing costs,” says CroF Managing Director Frank Schlein.
Older people are particularly affected. In the age group from the age of 61, the number of bankruptcies has increased particularly sharply with 10.1 percent. “In the case of many affected, income or pension is no longer sufficient-as a result, you have to register a private bankruptcy. The still high costs and rising rents will tighten the situation,” warns the CRIFT boss.
Expected even more bankruptcies
In the current year, more than 100,000 private bankruptcies can be expected, because the financial situation is expected to further exacerbate for financial and income-weak households, says Schlein. Only the high saving motivation of many Germans prevents an even higher bankruptcy number. In the case of private bankruptcies, the average debt height was 16,500 euros.
Bremen also remained the federal state with the proportionally most private bankruptcies in 2024. In the city state, 210 private bankruptcies came to 100,000 inhabitants. In a national average of 119 cases, the fewest bankruptcies in Bavaria (79), Thuringia (90) and Baden-Württemberg (92).
dpa
Source: Stern
