Continued decline in private insolvencies in Germany

For 2016, Bürgel currently forecast 103,000 private insolvencies. The main reason for the renewed decline is the continued positive development in the labor market.

Bremen is again the insolvency Leader with 56 private insolvencies per 100,000 inhabitants. Bavaria, Baden-Württemberg and Thuringia reported the fewest personal bankruptcies (23 per 100,000 inhabitants, respectively). In five of the states, the trend of declining personal bankruptcy numbers does not appear. In Hesse, private bankruptcies increased most with eight percent.
The main reasons for personal bankruptcies are unemployment and reduced work, income poverty, failed independence, a consumption behavior inappropriate to income, changes in family circumstances such as divorce, or separation and disease.