OTS: CRIF GmbH / Decline in private bankruptcies in Germany due to …

Decrease in personal bankruptcies in Germany due to base effect

Hamburg (ots) –

– A comparison with 2019 shows the high level of insolvencies

– More and more elderly Germans are affected by private bankruptcy

– Forecast for 2023: 100,000 personal bankruptcies in Germany

Private bankruptcies fell in Germany in 2022. Total gave

there were 96,231 private bankruptcies last year. This corresponds to a decrease

by 11.7 percent compared to the same period last year (2021: 109,031). So loud

the key results from the current CRIF “Debt Barometer 2022”.

The sharp increase in insolvencies in 2021 (up 93.6 percent to

annual view) has thus currently reversed. The clear plus

Personal bankruptcies in 2021 is mainly due to the fact that

many private individuals withheld their bankruptcy filings in 2020.

These individuals wanted to benefit from the legislative reform that

shortened the residual debt discharge procedure from six to three years. Therefore have

they only submitted their applications in 2021. This change in the law came into effect early

2021 and enables those affected to become debt-free more quickly

and to facilitate their economic re-entry.

This peculiarity has led to personal bankruptcies in 2021

have increased particularly sharply. The base value for the year 2021 (109,031

personal bankruptcies) is correspondingly high and the percentage change in

2022 is distorted at minus 11.7 percent.

It is interesting to compare the insolvencies in 2019 – i.e. before

Law reform and before Corona. This shows the currently high level of

personal bankruptcies. Accordingly, the private insolvencies in 2022 by 10.8 percent

increased (2019: 86,838).

Delivery bottlenecks, the energy crisis and persistently high inflation are currently

ubiquitous. Above all, the sharp rise in energy prices, but also others

Commodity and food prices have led to an inflationary rise in the

consumer prices led. The financial situation of many private individuals in

Germany remains due to the constantly rising rental and energy prices

tense. As a result, people in Germany will have less money in the

Have to meet their obligations such as loan payments, rent or pocket

meet financing. In the long run, less income only leads to the

Over-indebtedness and then possibly personal bankruptcy.

“The economy in Germany is still in crisis mode

If costs continue to rise, a wave of debt is possible in Germany.

If the costs rise sharply, people who have already

Live subsistence level, difficult. Especially for the financially and income-poor

households, the financial situation will worsen – also because the financial

Reserves have been used up due to losses in the corona pandemic.

Economic crises affect the economy with a certain delay

consumers off. Since in the insolvency statistics above all the past

is shown, the consequences of the increased costs will be felt primarily from 2023

have an impact on the number of insolvencies. It is positive that

many Germans are currently highly motivated to save due to

economic uncertainty or fears about the future,” comments CRIF

Germany Managing Director Dr. Frank Schlein the current situation.

The information service provider CRIF goes from again to for the year 2023

100,000 personal bankruptcies in Germany.

Persons who file for personal bankruptcy do not have to go up

be in debt. The majority of those affected have debts overall

of just under EUR 10,000. The median debt level is currently below 18,000

EUR.

Private bankruptcies by federal state: Most private bankruptcies in Bremen,

Lower Saxony and Hamburg

Nationwide there was an average of 116 personal bankruptcies per 100,000 in 2022

Resident. The northern federal states of Germany register in comparison to

more private insolvencies in the southern federal states. Bremen leads the list

188 insolvencies per 100,000 inhabitants, followed by Hamburg with 167 and

Lower Saxony with 154 insolvencies. Well above the national average

there are also the states of Schleswig-Holstein (141), Mecklenburg-Western Pomerania (139)

as well as North Rhine-Westphalia and Saarland (132 each).

Bavaria recorded the fewest personal bankruptcies (74 cases per 100,000

inhabitants), Baden-Württemberg (83) and Thuringia (97). Absolutely standing

the federal states of North Rhine-Westphalia (23,684), Lower Saxony (12,333) and Bavaria

(9,773) at the top of the bankruptcy statistics.

Percentage changes: fewer personal bankruptcies in all 16 federal states

Bremen recorded the strongest change in personal insolvencies with one

Decline of 23.4 percent, followed by Mecklenburg-Western Pomerania with 18 percent

fewer insolvencies and Saarland with a decline of 17.5 percent.

Baden-Württemberg showed a 15.7 percent drop, while Lower Saxony

a decrease of 14.3 percent and Bavaria of 13.9 percent. In

Schleswig-Holstein and North Rhine-Westphalia each had one

double-digit decline in private bankruptcies of 13.3 percent and 13.1

Percent. Hesse had the smallest drop of 2.1 percent

year-on-year change.

A different picture emerges when comparing the current figures with the year

2019 – i.e. before the legal reform and before Corona. In this

In comparison, private bankruptcies nationwide have risen by 10.8 percent.

The most significant increase was in Hamburg when comparing the years 2019 and 2022

with an increase of 23.2 percent. Hesse also recorded significant increases

(plus 22.3 percent), Baden-Württemberg (plus 18.6 percent), Bremen (plus 17.8

percent) and Saxony (plus 16.2 percent).

Personal bankruptcies by age: increase in the age group 61 years and older

A total of 14,907 people aged 61 and over reported in 2022

personal bankruptcy. This is an increase of 1 compared to the same period last year

Percent. However, the number of cases is older compared to 2019

German citizens increased by 57.3 percent.

“For many seniors, income or pensions are no longer enough – they have to

file for personal bankruptcy,” says Dr. Frank Schlein. The number of

Senior citizens who are dependent on basic security because their

pension is not enough, increases continuously. Year-on-year comparison from September

From 2021 to September 2022, the number increased by 12 percent. “Due to the continued high

We expect inflation and the energy crisis in the age group 61 and over

older also increasing insolvency figures in 2023″, according to Schlein.

Compared to the same period last year, the bankruptcy figures are in the rest

Age groups have fallen – most strongly in the 21 to 30 year olds with a minus

of 17.1 percent.

Press contact:

Press contact:

Oliver Ollrogge, CRIF GmbH, Marketing/PR department

Email: mailto:[email protected], Tel.: 040 / 89 803 582

Further material: http://presseportal.de/pm/22285/5452599

OTS: CRIF GmbH

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