As in Brandenburg, the number of personal bankruptcies in Berlin fell significantly in the first three months of 2022.
According to a count by the credit agency Crif, the number of private bankruptcies in the federal capital fell by 29.4 percent compared to the first quarter of 2021. In Brandenburg it was 21.9 percent.
According to the experts, the reason for this was a change in the law to exempt the remaining debt after three instead of six years, which came into force at the beginning of 2021.
As a result, affected people waited to file for bankruptcy, leading to a sharp increase in the first three months of 2021.
[If you want to have all the latest news live on your mobile phone, we recommend our app, which you can download here for Apple and Android devices.]
While only 892 insolvency applications were filed in Berlin in the first quarter of 2020, under the new legal situation there were already 1321 in 2021 and again only 933 in 2022.