Personal Bankruptcies in Austria: Men and Middle-Aged Individuals Most Affected

Recent data from the Kreditschutzverband von 1870 (KSV1870) reveals a concerning trend in personal bankruptcies across Austria, with men and individuals aged 41 to 60 disproportionately affected. The total debt levels are also on the rise, signaling increasing financial strain for many Austrians.

Gender Disparity in Debt

According to KSV1870, 61% of the 8,766 debt settlement proceedings initiated in the past year involved men [KSV1870]. This pattern is consistent across the country, including in Vorarlberg, where 62% of procedures affected men and 38% affected women. The average debt amount for men entering personal bankruptcy in Vorarlberg is significantly higher, at €112,000, compared to €76,000 for women.

Age as a Factor in Financial Distress

The age group between 41 and 60 represents almost half of all debt settlement procedures nationwide. This demographic is particularly vulnerable, often consisting of formerly self-employed individuals facing financial hardship. Individuals aged 25 to 40 account for nearly 40% of private bankruptcies, while those over 60 represent approximately 10%, and those under 25 only 3%.

Rising Debt Levels

The average debt amount in Austria has increased substantially, reaching €153,000 per case – a 35% increase, or €40,000 more, compared to the previous year [KSV1870]. In Vorarlberg, the average debt per personal bankruptcy is €120,000, slightly below the national average. Generally, older individuals facing bankruptcy tend to have higher debt levels; those aged 41 to 60 carry an average debt of €201,000, while those aged 25 to 40 have an average of €97,000, and those under 25, €48,000.

KSV1870’s Role and Services

The Kreditschutzverband von 1870 (KSV1870) is a leading creditor protection association in Austria, representing over 30,000 members [IKARUS/Mandiant]. The organization focuses on protecting businesses from financial losses and improving their liquidity through credit checks and risk management solutions [KSV1870].