After we talked about the rising debt of the German citizens in our last article, we would like to deal with the subject of late payments in this new article or better: How about the payment behavior of the Germans? If one gives the corresponding credit compass 2015 of the SCHUFA a corresponding belief, then it is with the payment moral nationwide pretty good – with the exception of the Berlin region. Why just Berlin and what the numbers look like there, more on that later.

 

Payment behavior is consistently good

 

 Payment behavior is consistently good

 

First and foremost: Compared to public institutions, Germans are aware of their payment obligations and regularly follow them up. So at least the key message of the credit compass 2015 SCHUFA. In 2014, about 97 percent of all loans expiring this year were repaid by the borrowers on time and within the framework of the agreements reached with the lender. However, there are regional differences, with the federal capital of Berlin being significantly wiped out. According to the credit compass, the Berliners are at the bottom of the list with around 13 percent, who were struggling with payment problems last year – be it paying bills or repaying borrowings. The result is that just those 13 percent have landed with a negative note in the SCHUFA.

 

Loans: fewer applications but higher credit sums

 

 Loans: fewer applications but higher credit sums

 

In times of a so-called low interest rate environment, it seems logical that this is also reflected in the number of loan applications, but here, too, the reality is different. The number of loans taken has declined significantly in the last year, with now more than 7.4 million newly concluded loan agreements. This corresponds to a percentage reduction of at least 4 percent compared to the previous year. At the end of 2014, there were a total of 17.5 million active installment loans nationwide, 200,000 fewer than a year earlier. However, the average amount of loans increased, because last year the value was about 8790 euros loan volume per credit agreement. Whether this can now be assessed positively depends on the point of view – certainly positive for the banks, but whether these figures can be used to derive positive consumer behavior?

 

What loans are taken up for

 

 What loans are taken up for

 

According to current numbers of the Society for Consumer Research GFK, the car is still with 46 percent in the first place as a reason for taking a loan. But also the purchase of new technical equipment or new furniture is a reason for many Germans to borrow.

Our conclusion

 Our conclusion

 

What people ultimately want to take out for a loan: It should be clear that a loan for a defined period of time represents a financial additional burden that has to be borne by the borrower. Only those who have a clear overview of how their financial situation – keyword: budget book – now and in the future looks and can weigh, which financial burdens are still sustainable, protects against the credit trap and the resulting over-indebtedness!