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Debt advice in focus: campaign week for financial education started!
Sustainable financial education is crucial: Debt advice campaign week from June 2nd to 6th, 2025 provides information about options for help and demands for improvement.
Debt advice in focus: campaign week for financial education started!
Today, June 2, 2025, the need for debt advice in Germany has increased sharply. Loud evangelisch.de The central debt advice center in Bonn experienced an increase to 1,300 clients in 2024, which corresponds to an increase of 10% compared to ten years ago. This demand is also reflected in the statistics from the Federal Statistical Office, which reported almost 6,100 consumer bankruptcies in February 2025 - an increase of 4.8% compared to the same month last year. However, experts disagree about the debt counseling services actually offered, while waiting times for advice have now increased to six months.
In recent years, financial challenges have increased for many people, particularly young adults, who are often faced with costs associated with moving into their first home. Experts like Carsten Homann from Darmstadt University of Applied Sciences criticize the population's inadequate financial education and call for suitable measures to improve debt advice. Manuel Pensé from the Resofonds Hessen Foundation emphasizes that the middle class in particular is increasingly in debt, which is accompanied by increased pressure from creditors and, in some cases, even criminal offenses.
Debt advice campaign week
State debt counseling provides free support for people in financial difficulties, but has long waiting times due to high demand. How debtnerberatung.de As explained, good preparation before the consultation appointment is crucial. All relevant documents, income and expenses should be compiled in advance to speed up the process.
Consultation process and alternatives
The advisory process includes analyzing the financial situation, drawing up a spending plan and contacting creditors to reach an out-of-court settlement. If this is not successful or the debts are too high, personal bankruptcy can be initiated. While state advice centers can certify private insolvency, the requirements for the recognition of advice centers vary depending on the federal state. In Berlin, for example, lawyers and tax consultants are considered suitable positions, while charitable institutions such as the Diakonisches Werk or Arbeiterwohlfahrt are generally recognized.
The financial challenges facing society demonstrate the urgent need for comprehensive improvements in financial education and accessible advice. The “Debt Advice Week” could be the first step to draw attention to these important issues and initiate a broad discussion.