"Pressure is increasing"

More and more Styrians are trapped in debt

Many Styrians are no longer able to pay their rent or utility bills.(Bild: Markus Wenzel)

The economic downturn is not only causing the number of corporate insolvencies to skyrocket, record figures are also being recorded in the private sector. We asked the Styrian debt counseling service: What are the reasons for this financial misery? How can debtors get out of the vicious spiral?

A high loan, increased costs for electricity and heating, more expensive food: in difficult economic times, many people are just making ends meet with their income. But when a hefty back payment for operating costs arrives and an unplanned repair for the car becomes due, some slide far into the red, or even into personal insolvency if they lose their job. Last year, more than 1000 Styrians were affected by this personal financial disaster.