Men have higher debts
Western Switzerland in particular is showing a particularly high number of over-indebtedness, because the ratios here are around 10 percent. There are also differences between the sexes: Men are over-indebted much more often than women:
- Men between 46 and 50 years: Overindebtedness rate of 12 percent
- Women between 46 and 50: Overindebtedness rate 8 percent
- Women aged 40 and over: Debt ratio continues to fall
- Men between 40 and 60: debt ratio remains consistently high
Men between the ages of 36 and 40 have the highest debt ratio in Switzerland, whereas women between 26 and 30 are most indebted. This leads to the conclusion that women are more concerned about financial security and rarely take an investment risk. However, this does not apply to women between the ages of 18 and 25, in this age group they are as likely to be in debt as men.
The credit rating suffers
Many Swiss are not aware that creditworthiness suffers from over-indebtedness. They get a negative credit report and often don't know why. The reason for this is, however, simply explained: every loan application is entered in the central register for credit information. Here you will also find information if loans have not been paid on time, if interest on arrears has accrued or if seizures and debt collection have been carried out. This is very difficult for a new loan application. By the way, bad creditworthiness not only has a negative effect on the application for a new loan, but also when applying for a credit card.
A bad credit rating is even noticeable in everyday life: For example, if you want to buy on account when shopping online, you have to go through a credit check. If this is negative, payment by invoice is no longer available.
In summary: Overindebtedness is increasing
More and more men and women in Switzerland are over-indebted, although it can be seen that it is mainly men who fall into the debt trap and find it difficult or impossible to get out of it. They are generally more willing to take risks when it comes to investments, although women are more concerned with financial security. It is also noticeable that women over the age of 40 are less and less in debt, while the corresponding rates for men remain stable.
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Source: comparis.ch
