Over-indebtedness in Schleswig-Holstein: numbers are falling, worries remain!

Over-indebtedness in Schleswig-Holstein: numbers are falling, worries remain!

In Schleswig-Holstein there is a ray of hope in the shadow of the debt crisis! The number of over-indebted people fell again in 2024, as the current debtor atlas shows. At a rate of 8.19 percent, the decline is minimal, but it marks an important trend: in 2019, the over-indebtedness rate was an alarming 10.85 percent. But what is behind these numbers? The reasons are diverse and range from economic uncertainty to personal fate.

The regional differences are particularly striking: in the Stormarn district, only 5.28 percent of residents are over-indebted - a real record! In contrast, the districts on the west coast, such as Dithmarschen with 9.78 percent, struggle with significantly higher rates. With a shocking rate of 15.78 percent, Neumünster is at the bottom of Schleswig-Holstein and is one of the most affected cities nationwide. Here one in six adults is caught in the debt trap!

Causes of over-indebtedness

The reasons for these worrying figures are clear: high energy and food prices particularly affect people with low incomes. According to Creditreform, single women are the main victims of this development. The six main reasons for over-indebtedness are alarming: unemployment, separation, illness and more account for over 82 percent of cases. Patrik-Ludwig Hantzsch from Creditreform warns: “German consumers are afraid of the future and are therefore holding on to their money.” This uncertainty, coupled with the weakening economy and the political crisis in Germany, is leading to a decline in consumption and thus further straining the economic situation.

Overall, the debtor atlas shows that over-indebtedness in Germany has reached a new low of 8.09 percent. But while Bavaria shines as a pioneer, Schleswig-Holstein, with its regional differences, remains a worrying example of the challenges that many people in this country have to overcome.