The over-indebtedness of private individuals in Germany has risen since 2014 for fourth consecutive year. The economic information Creditreform calculated on basis of its own data that more than 6.9 million citizens over 18 years are over-owed, thus taking a permanently less money than y spend. These are about 65,000 people more than last year. At 0.9 percent, however, increase is lower than in previous years.
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The indebtedness quota is thus 10.4 percent nationwide. It fell slightly compared to previous year as population grew. In eastern Länder it is 10.42 percent (excluding Berlin) for sixth consecutive period above comparative value in West (9.97 percent), and also slightly above federal average. A total of about 5,790,000 people are considered to be over-owed this year in west, in eastern Germany this is about 1,120,000.
Older people in particular
2017 compared to last year, trend has slowed down both in east and in west of Germany. Despite low tempo, comparative figures show that over-indebtedness in West continues to increase faster than in east.
The problem concerns increasingly older people. About 194,000 over 70-year-olds are classified as over-debted. This is an increase of 20,000 cases or 12 percent in previous year. The corresponding indebtedness ratio (1.5 percent; plus 0.16 points) remains clearly below comparative values of or age groups. Over-indebtedness in younger age groups continued to decline – to a quota of 14.06 percent.
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A special evaluation of data according to milieu shows that even this year almost all newly indebted members of middle class belong (4,380,000 and 69,000 furr cases). The number of indebtedness cases from better-earning strata (2017:1,760,000; minus 3,000 cases in comparison with previous year) has decreased slightly in this year as well as in lower-earning strata (770,000; minus 1,000 cases).
The economic information Creditreform does not anticipate lasting relaxation for near future despite still very positive economic conditions. Rar, it can be assumed that indebtedness numbers will increase furr, authors write evaluation.
