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There is life after debt – but first comes the wave

The corona measures are causing a paradoxical development not only for companies, but also for private individuals. Despite higher debt, the number of bankruptcies is falling. Debt advisors are preparing for a wave – and are looking for staff.


SN/stockphoto graf

The coronavirus can not only endanger health, but also the bank account and thus the standard of living of every individual. Experts therefore expect a significant increase in personal bankruptcies. But nothing of that has been seen so far.

This also surprises Clemens Mitterlehner, the head of the umbrella association for state-recognized debt counseling (ASB Schuldnerberatungen GmbH). “The number of those seeking advice in debt counseling is at a normal level and rather low,” he says. The reason are state aid measures, especially loan deferrals. The deadline for payment …

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