Some 6.4 million Germans, or nearly ten percent of all adults, are insolvent. They cannot pay their bills and have no opportunity to raise the necessary money in the foreseeable future.
This is the conclusion of the latest report from the Creditreform debt atlas for 2011. The average debt of those affected is €33,700—equivalent to a total debt of €216 billion.
Particularly heavily indebted are young and old people. While the total number of indebted adults declined slightly last year, the number of young people affected has increased dramatically. One in four adults in debt is under 30.
The number of 18 and 19-year-olds in debt has risen by 23 percent compared to last year. Since 2004, when the Creditreform debt atlas was first published, the numbers have exploded by 358 percent. There are currently some 243,000 young people trapped in debt. Full story...
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This is the conclusion of the latest report from the Creditreform debt atlas for 2011. The average debt of those affected is €33,700—equivalent to a total debt of €216 billion.
Particularly heavily indebted are young and old people. While the total number of indebted adults declined slightly last year, the number of young people affected has increased dramatically. One in four adults in debt is under 30.
The number of 18 and 19-year-olds in debt has risen by 23 percent compared to last year. Since 2004, when the Creditreform debt atlas was first published, the numbers have exploded by 358 percent. There are currently some 243,000 young people trapped in debt. Full story...
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