Over -indebtedness in Germany sinks: 5.56 million affected 2024!

Over -indebtedness in Germany sinks: 5.56 million affected 2024!

Neuss, Deutschland - Neuss (dpa) - A ray of hope in the dark world of finances: The number of over -indebted people in Germany has dropped this year! According to the Creditre reform business, 5.56 million people are affected - that is 94,000 fewer than in the previous year. This marks the lowest level since the beginning of the evaluations in 2004. The over -indebtedness rate fell from 8.15 to 8.09 percent. Those who cannot meet their financial obligations in the long term is considered to be over -indebted.

But what is behind this decline? Patrik-Ludwig Hantzsch, head of creditreform business research, has a clear explanation: "German consumers are unsettled and are afraid of the future. Therefore they keep their money together." The persistently difficult economic situation, the politics of the federal government, the war in Ukraine and the elections in the United States contribute to this uncertainty. This pronounced savings tendency leads to fewer people fall into debt trap.

challenges for certain groups

Despite the decline, the situation remains tense for many individuals. Lowly earners are particularly struggling with the high energy and food prices. Single women are also affected above average. Interestingly, men are over -indebted more often than women. Creditreform evaluates anonymized data from official registers and online retailers for his “debtor atlas”, with the methodology being changed last year. Therefore, the number of 5.56 million is not comparable to the data before 2023.