With the rise in private insolvencies last year, the Left party is demanding the creation of a new citizen‑based credit bureau that would help indebted people.
In an interview with the “Rheinische Post” on Wednesday, party leader Jan van Aken explained that this “new Bürger‑Schufa” should function like a debt‑advisory service, guiding people out of debt traps. He stressed that the interests of ordinary citizens must come first, not the profit motives of large corporations.
Van Aken also blasted the current system, saying that many firms deliberately lure consumers into debt because, with the help of the existing Schufa and debt‑collection agencies, they can easily obtain the money owed to them.
The current Schufa is a private commercial credit agency. To address the problem, van Aken urged the federal government to launch an action plan against over‑indebtedness. The plan would include improved options for deferring rent and electricity bills, thereby preventing loss of housing and power shut‑offs. He holds the coalition government partly responsible for the high number of insolvencies, arguing that it is doing too little to curb soaring rents and prices.
According to the information service Crif, Germany recorded 107,816 private insolvencies last year-almost eight percent higher than in 2024.
