Stuttgart (dpa / lsw) – Despite dramatic increases in energy and food prices, fewer people in Baden-Württemberg are over-indebted than in previous years. According to the credit agency Creditreform, the number of over-indebted people fell by 31,000 to 640,000. The over-indebtedness ratio was 6.95 percent in 2022. That was the second lowest value in Germany after Bavaria. The number of over-indebted people also fell nationwide – but the positive development was deceptive, said Creditreform in the “Debt Atlas Germany 2022” on Tuesday.
“The real burden will be the persistently high inflation and in particular the rising energy costs, which have not yet fully reached the consumer,” said Patrick-Ludwig Hantzsch, head of economic research at Creditreform, according to a statement. These consequences became noticeable with a time delay and long-term effects. “We fear a trend reversal in the coming months. Many of the savings accumulated during the Corona crisis have already been used up again.”
Financial experts speak of over-indebtedness when a debtor is highly unlikely to be able to pay the sum of his payment obligations over a long period of time and he has neither assets nor credit facilities to cover his livelihood.
