Private Bankruptcies in Germany Rise Sharply Due to Cost of Living Pressures

Nearly 100,000 individuals declared insolvency in 2024, with older adults disproportionately affected by inflation and rising expenses.

Germany saw a 6.6% increase in private bankruptcies in 2024, totaling 99,991 cases, according to data from Crif, a Hamburg-based credit reporting agency.
The rise in bankruptcies is attributed to persistently high inflation, driven by elevated energy and food prices following the Russian invasion of Ukraine.
Older adults, particularly those aged 61 and above, experienced the largest increase in insolvencies, with a 10.1% rise as incomes and pensions failed to cover mounting living costs.
Experts predict over 100,000 insolvencies in 2025, as financial pressures on low-income households are expected to intensify due to ongoing cost increases and rising rents.
Bremen recorded the highest rate of insolvencies per capita in 2024, while Bavaria, Thuringia, and Baden-Württemberg reported the lowest rates.