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Private Insolvencies: More than 100,000 Austrians Concerned
This year, 7,000 private insolvencies were registered in Austria. According to KSV (Austrian Association of Creditors), much more people are illiquid, though.
Private Insolvencies: More than 100,000 Austrians Concerned / Picture: © Vindobona.org
KSV estimates that the number of persons affected by a private insolvency exceed 100,000. However, only a small fraction really has filed for a private bankruptcy. KSV explains that most insolvent persons do not file for insolvency because of image resaons. In the first eight months of 2012, 7,000 persons were officially registered as insolvent. The size of debt totals about €…
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