Around five million people in Germany are over-indebted. Rising living costs, unforeseen crises and inadequate financial education are driving many people into financial difficulties. But how can those affected escape the debt trap and find a sustainable solution?
Sebastian Ludwig, CEO of the coeo Group, talks about the challenges of over-indebtedness in an interview with FOCUS online. He emphasises how important it is to seek professional help at an early stage and to strengthen financial education - both privately and in companies and schools. ‘Over-indebtedness can often be avoided if action is taken in good time,’ explains Ludwig.
Act early instead of waiting
Ludwig explains that a preventative approach is crucial. If you act early, you can often prevent over-indebtedness from occurring. Young adults in particular are affected by financial insecurity.
Fair and flexible solutions for debtors
‘We focus on fair, transparent solutions such as instalment payment agreements and comparison offers,’ explains Ludwig. A budget book or a financial app helps to keep your own financial situation under control. Early advice from debt counselling centres is also an important step towards debt relief.
Together for a sustainable future
The coeo Group helps to find long-term solutions to financial challenges. With digital offerings and specialised programmes, we strengthen financial literacy and provide support in reducing debt.
Read the full article in FOCUS Online
Find out more about the challenges of over-indebtedness and solutions in our interview with Sebastian Ludwig (only in german) on Schuldneratlas zeigt, dass fünf Millionen Deutsche überschuldet sind - FOCUS online.
About the coeo Group
The coeo Group is the leading technology-based debt collection company in Europe. With a clear focus on combining pioneering AI and first-class customer service, coeo sets new standards in the industry and continuously drives the optimisation and further development of receivables management and all other business processes.
Press contact:
Sarah Lehmann
Head of Marketing & Public Relations
Tel.: +49 2133 2463-0
presse@coeo-inkasso.de