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Every fifth client of debtor advisory boards in Austria is under 25 years

moneyEvery fifth person in Austria under 25 years, needs the service of the debtor advisory board.

The beginning of the Austrians to their “debtor career”, already starts before the 20th birthday. A start into life with personal bankruptcy is becoming more and more normality for young people in Austria.

The Upper Austrian college and the debtor advisory board made a study about it now.

92% of the 15 to 18-year-old declared they were raised by parents not to care about money. The careful relation with money is no topic in such families. Parents live beyond their means, and fulfil all childrens wishes, so children won’t disturb their peace.

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