BÜRGEL Survey: Debt Barometer 2009
Nine percent more private insolvencies in 2009
In 2009 130,698 federal citizens filed for private insolvency. This corresponds to a rise by 8.65 percent in comparison with the previous year (2008: 120.289). In particular younger people are increasing hit by the current wave of bankruptcies and are at risk of poverty. This was the result of the present survey “Debt Barometer 2009” by the Hamburg financial information agency Bürgel.
It is indeed true that the number of cases of private insolvencies has decreased over the survey period 2009 towards the end of the year: during the fourth quarter of 2009 a total of 33,834 consumer insolvencies were registered – 4.28 percent less than during the previous quarter (3rd quarter 2009: 35,347). However, for 2010 for various reasons Bürgel expects a negative development in consumer insolvencies to more than 137,000 cases.
Top of the list for 2009 in the absolute figures is North Rhine-Westphalia with 26,918 private insolvencies. Just below 20 percent of all cases occur in this federal state. In 2nd place is Lower Saxony with 17,605 insolvencies and in 3rd place Bavaria with 14,860 bankruptcies.
In relation to the number of inhabitants per federal state, Bremen leads with 284 insolvencies per 100,000 head of population, followed by Lower Saxony (222) and Schleswig-Holstein (219). On a federal average 159 private persons per 100,000 head of population had to file to the bankruptcy court. The least number of private insolvencies during the survey period 2009 is registered in Thuringia with 112 cases per 100,000 inhabitants, Bavaria (119) and Baden-Württemberg (129).
In comparison with the previous year the number of cases in 2009 only decreased in three federal states. Here Thuringia comes out best with minus 23.1 percent (2009: 2,530 cases). The figures are also on the decline in North Rhine-Westphalia with minus 5.67 percent (2009: 26.918) and in Berlin with minus 4.26 percent (2009: 5,365). In the meantime the Saarland, with an alarming plus of 57.78 percent more private insolvencies, registers the strongest increase to 2,190 cases. The case figures also soared up in Brandenburg (plus 34.71 percent; 2009: 5,286 cases) and Hamburg (plus 23.13 percent; 2009: 3,572 cases).
Altogether during the previous year 58.59 percent of all private bankruptcies can be allocated to men (share: 76,571 cases). The Bürgel survey records the highest number of private insolvencies independent of gender among the 36- to 45-year-olds (share: 31.9 percent; 41,695 bankruptcies), closely followed by the 46- to 60-year-olds (share: 31.75 percent; 41,499 cases). The group of the 18- to 25-year-olds appears to be problematic. Here 7,038 private insolvencies occurred during the past year – 34.49 percent more cases than in 2008.
Private bankruptcies particularly hit younger groups because their investments in homes and families have to be mastered from a comparatively low income. In addition, statistically the younger consumers have less capital that could help them overcome a crisis caused by financial bottlenecks. Apart from the classical causes of indebtedness (unemployment, separation or the death of a partner, illness or the failure of self-employment), particularly the younger citizens suffer from the results of failed mortgaging and a consumer behaviour that is inappropriate to the income situation. In addition, the rising figures in corporate insolvencies lead to a higher risk of becoming unemployed.
“With this background the outlook for 2010 continues to be negative,” is the forecast by Bürgel Managing Director, Dr. Norbert Sellin who maintains that during the current year more than 137,000 private insolvencies are possible. If this was the case, the figures would even surpass the situation in 2007. This trend is also underlined by a current survey by the DIW, the German Institute for Economic Research. According to this about 11.5 million people – especially young adults – were already considered in 2008 as standing a high risk of poverty.
It is indeed true that the number of cases of private insolvencies has decreased over the survey period 2009 towards the end of the year: during the fourth quarter of 2009 a total of 33,834 consumer insolvencies were registered – 4.28 percent less than during the previous quarter (3rd quarter 2009: 35,347). However, for 2010 for various reasons Bürgel expects a negative development in consumer insolvencies to more than 137,000 cases.
Top of the list for 2009 in the absolute figures is North Rhine-Westphalia with 26,918 private insolvencies. Just below 20 percent of all cases occur in this federal state. In 2nd place is Lower Saxony with 17,605 insolvencies and in 3rd place Bavaria with 14,860 bankruptcies.
In relation to the number of inhabitants per federal state, Bremen leads with 284 insolvencies per 100,000 head of population, followed by Lower Saxony (222) and Schleswig-Holstein (219). On a federal average 159 private persons per 100,000 head of population had to file to the bankruptcy court. The least number of private insolvencies during the survey period 2009 is registered in Thuringia with 112 cases per 100,000 inhabitants, Bavaria (119) and Baden-Württemberg (129).
In comparison with the previous year the number of cases in 2009 only decreased in three federal states. Here Thuringia comes out best with minus 23.1 percent (2009: 2,530 cases). The figures are also on the decline in North Rhine-Westphalia with minus 5.67 percent (2009: 26.918) and in Berlin with minus 4.26 percent (2009: 5,365). In the meantime the Saarland, with an alarming plus of 57.78 percent more private insolvencies, registers the strongest increase to 2,190 cases. The case figures also soared up in Brandenburg (plus 34.71 percent; 2009: 5,286 cases) and Hamburg (plus 23.13 percent; 2009: 3,572 cases).
Altogether during the previous year 58.59 percent of all private bankruptcies can be allocated to men (share: 76,571 cases). The Bürgel survey records the highest number of private insolvencies independent of gender among the 36- to 45-year-olds (share: 31.9 percent; 41,695 bankruptcies), closely followed by the 46- to 60-year-olds (share: 31.75 percent; 41,499 cases). The group of the 18- to 25-year-olds appears to be problematic. Here 7,038 private insolvencies occurred during the past year – 34.49 percent more cases than in 2008.
Private bankruptcies particularly hit younger groups because their investments in homes and families have to be mastered from a comparatively low income. In addition, statistically the younger consumers have less capital that could help them overcome a crisis caused by financial bottlenecks. Apart from the classical causes of indebtedness (unemployment, separation or the death of a partner, illness or the failure of self-employment), particularly the younger citizens suffer from the results of failed mortgaging and a consumer behaviour that is inappropriate to the income situation. In addition, the rising figures in corporate insolvencies lead to a higher risk of becoming unemployed.
“With this background the outlook for 2010 continues to be negative,” is the forecast by Bürgel Managing Director, Dr. Norbert Sellin who maintains that during the current year more than 137,000 private insolvencies are possible. If this was the case, the figures would even surpass the situation in 2007. This trend is also underlined by a current survey by the DIW, the German Institute for Economic Research. According to this about 11.5 million people – especially young adults – were already considered in 2008 as standing a high risk of poverty.
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| 23.02.10 |
| BÜRGEL Survey: Debt Barometer 2009 |
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