Rush for advice

Personal bankruptcies: More and more cases, stigma remains

The option of personal bankruptcy has been available in Austria since 1995. The numbers have never been as high as in the last three years.

(Bild: stock.adobe.com/stock.adobe.com – Shisu_ka)

The economic downturn is not only causing the number of corporate insolvencies to skyrocket. Record figures have also been recorded in the private sector for years. A Styrian debt counselor reports.

According to the AKV, 761 private bankruptcies were registered in Styria in the first three quarters. This is almost the same figure as in the same period of the two previous years - sad record holders since the introduction of personal bankruptcy in 1995. Both years saw more than 1000 cases in Styria, and this alarming figure is likely to be reached again this year.