The number of consumer bankruptcies has slowed down

The number of consumer bankruptcies has slowed down

In the first half of the year, 19 percent fewer consumers were declared bankrupt than a year ago.

Between January and June this year, the courts positively recognized the applications of 7.3 thousand insolvent citizens. A year ago, as many as 9 thousand people went bankrupt. According to Jaroslaw Nowrotek, president of the Central Economic Information Center, there are several reasons for the decline in the number of consumer bankruptcies. First of all, the situation in the economy is still good. We have low unemployment and wages are rising. As a result, fewer people are falling into a debt spiral. On top of that, financial institutions are more cautious in granting loans and credits.

The youngest bankrupt was 21 and the oldest was 92. The average age was 49. With that said, the highest number of proceedings was among those between 40 and 49 years of age. Men were more often bankrupt than women. The provinces with the highest number of consumer bankruptcies were Silesia (17.5 percent) and Kujawsko-Pomorskie (11 percent).


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