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Private Insolvencies on the Rise
Long-term studies show that the number of private insolvencies is increasing in Austria. Since 2002, their number has tripled.
Private Insolvencies on the Rise / Picture: © Vindobona.org
In 2011, the creditor´s association (KSV 1870) registered 9,596 private insolvencies. A further rise is forecasted. In 2012, more than 10,000 cases are expected.
Especially male are affected, former independently employed persons and people in urban areas. Besides a failed independent employment and a reduction of the personal income, unemployment is the most important reason…
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