With 8,176 debt settlement procedures opened last year, 13 percent more cases were registered than in 2021. “Personal error” (28.1 percent) is the most common reason people in this country slide into private bankruptcy. We show why and explain with an expert what personal insolvency entails and what debt counseling can look like.
According to the Credit Protection Organization (KSV1870), 8,176 so-called debt settlement procedures were opened in Austria last year, which is 13.1 percent more than in 2021. About two-thirds of all private bankruptcies affect men, whose debts average 131,000 euros, while women average ‘only’ 80,000 euros. in chalk.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
