Private households run out of money in the Corona crisis

Corona and changes in the law will increase the bankruptcies of private households by up to 50 percent. Companies should also be affected.

From the middle of the year it will be tight, the bankruptcies of private households will then increase by up to 50 percent, fears the Alpenländischer Kreditorenverband (AKV). In addition to increasing debt due to the Corona crisis, changes in the law are also responsible for the “enormous increase”, said AKV expert Cornelia Wesenauer to Ö1: The opening of insolvency proceedings is made easier.

In the case of company bankruptcies, an increase of 15 percent is expected if state subsidies and deferrals expire.