Various reasons – Women often come to private bankruptcy after divorces

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The majority of private competitions are male (61 percent) and usually takes place after independent activities. The average debt amount was 113,000 euros in the previous year, as the Credit Protection Association announced on Monday.

With 77,000 euros, women have on average fewer debts than men with 138,000 euros. “The considerable delta in terms of debt conversion between men and women is also due to the increased professional independence of men. Entrepreneurial debts are often included here, and therefore the debts are considerably higher, “says Karl-Heinz Götze of the KSV.

The reasons why men and women slide into private bankruptcy are different. For example, women overestimate their own economic performance (24 versus 20 percent) and come due to the acquisition of liability (eight versus two percent) instead of men in the private bankruptcy. Such debts usually come from loans, for example to finance the normal house.

For men, the private bankruptcy (32 percent) is often due to former independence, every fifth overries their own economic performance.

“Many women sign guarantees, although they often cannot have or only have a direct influence on the execution of the loan. If there is a divorce, many women can no longer meet their financial obligations and have to go to private bankruptcy, “said Götze.

New rules for private bankruptcy
Private bankruptcy has been adjusted several times in the past. In 2017, the debt duration of seven to five years was shortened and the minimum quota of ten percent was completely abolished. “This made bankruptcy percentages for one digital directions to rule and Gelrives in the direction of the creditor,” the KSV criticized.

He calls for more financial education and that the possibility for private individuals to take themselves within three years should not be expanded.

Source: Krone

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