Press Overindebtedness often due to an unforeseeable change of personal circumstances

Press release No. 226 of 1 July 2016

WIESBADEN – For nearly one out of five people (19%) who started counselling at one of the 1,400 German debt advice centres in 2015, losing the job had been the main trigger of overindebtedness. "It is striking that, generally, unforeseeable serious changes of personal circumstances beyond the direct control of the overindebted are named as the main trigger," said Dieter Sarreither, President of the Federal Statistical Office, at a press conference on the results of the 2015 overindebtedness statistics in Berlin today. In 15% of the cases, health problems caused financial problems. In another 14%, debt counselling was required as a separation/divorce or the partner's death had financial consequences.

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