Most individuals head toward Christmas with financial difficulties and stress already causing them problems. Consumer watchdogs begin the warnings early on with reminders not to overextend and overdraw! The new year, at the latest, is then when this is truly felt and the consequences become apparent.

The average expenditure for Christmas presents for individuals of Salzburg is 400 Euro, which most do not have to begin with. “It’s clear that from February onwards the market starts to become restless and wants to receive money, the grace period ends. From mid-February, beginning of March we receive a large number or requests for debt collection”, says Michael Rieger, CEO of COMMERZ Inkasso.

Important invoices are left untouched
Even if the money is required elsewhere, presents seem to get first preference. “On the other hand we see that electrical and insurance bills are left untouched because people gave Christmas presents the preferential treatment in order to buy them for their kids. This leads them to fall behind and into debt in other areas”, highlights Michael Rieger.