Consumer credit and overdrawn accounts make up the largest part of these debts. In 2018, up to 150,000 people with more than 10,000 euros in liabilities each were not able to repay this sum over a long period of time. The Austrian debt report stated that 22.7 per cent of clients of debt counselling services were under 30 years old. The consequences of over-indebtedness can make people ill and destroy their livelihoods. In 2019, more than 10,000 private bankruptcy proceedings were initiated in Austria, with 12.1 per cent of all those affected being 30 years old or younger. At the same time, particularly older people, people with low incomes and people with non-Austrian citizenship often have only limited access to basic financial services such as an account, insurance and a simple loan.
