Consumer Bankruptcies in Poland in 2024 – Summary and Trend Analysis

The year 2024 was a time of dynamic changes on the market consumer bankruptcies in Poland. The increase in the cost of living, changing interest rates and the economic slowdown have significantly affected the financial situation of Polish households. In response to these challenges, many consumers have decided to use bankruptcy procedures as an element of renewal and a second chance.

In this article, we summarize the most important trends, statistical data and key legal changes that have influenced the number and structure of consumer bankruptcies declared in Poland in 2024. Although the year is still a few moments away, important directions are already visible that may determine the future of this market in the coming years.

Have the growth trends been maintained compared to previous years? Which social groups most often struggled with insolvency? Which regions of the country experienced the greatest scale of the problem? The answers to these and other questions can be found in the further part of the analysis.

Consumer bankruptcy – record increases

In 2024, the number of consumer bankruptcies in Poland rose to record levels, confirming the dynamic development of this phenomenon. According to data from the Central Economic Information Center (COIG), the number of bankruptcies in the first ten months of the year was 17,700, which indicates a possible exceedance of 20,000 cases by the end of December. Below we present a detailed picture of monthly statistics and the main reasons for this trend.

Monthly statistics of consumer bankruptcies

• January: 1,774 cases were registered, which was an increase of 14.9% compared to December 2023. The beginning of the year was characterized by an increased number of applications after the intense holiday season, when many people struggle with mounting debts.
• February: The number of cases rose to 1,874. Rising inflation and problems with repaying financial obligations contributed to this trend.
• March: This month saw one of the highest numbers – 2,029 bankruptcies. This is the result of rising living costs and growing debt among Poles.
• April: The number of bankruptcies stabilized at 1,941, indicating some seasonal stabilization, even though the difficult economic situation did not improve.
• May–June: There were slight declines in these months, with 1,875 and 1,661 cases, respectively. It’s possible that longer days and the holiday season have contributed to fewer bankruptcies being filed.
• July–August: There were 1,731 bankruptcies registered in July, rising to 1,782 in August, reflecting the typical summer surge in spending and debt.
• September: The number of bankruptcies reached the lowest level in the year – 1,563. This was due to some improvement in the financial situation after the summer holiday period.
• October: There was a sharp increase - 1,960 bankruptcies. This month was one of the highest in the whole year, which is attributed to increased costs related to the beginning of the heating season and the new credit cycle.

Forecasts for November and December point to further growth, which could lead to another record annual result.

In 2024 consumer bankruptcy in Poland has become one of the most important support mechanisms for people struggling with financial problems. It is a tool that allows debtors to organize their obligations and start a new chapter in their lives, while also influencing the economy and the condition of society. In this article, we will look at the reasons for opening consumer proceedings, the changes taking place in the following months, and the demographic profile of people who use this institution most often. We will end with an optimistic view of the future of this mechanism.

January - March: Growing number of applications

The first quarter of the year brought dynamic increase in the number of declared bankruptciesi. This was due to the cumulative problems of inflation and the high cost of living that continued to affect society. Many people, especially the middle class, had to face the consequences of taking out variable-rate loans.

In this part of the year, bankruptcy was most often declared by people aged 35-50. These were mainly people working under employment contracts, who were struggling with the loss of financial liquidity due to the rising costs of living and unexpected expenses.

April - June: Stabilization and increase in awareness

In the second quarter of the year, the pace of declaring consumer bankruptcies slowed down somewhat, which can be attributed to growing public awareness of financial management. Educational campaigns organized by public institutions and non-governmental organizations drew attention to the need to build savings and avoid debt spirals.

Reasons:

• Uncontrolled use of credit cards and short-term loans.
• Health problems that led to job loss and the need to cover high medical costs.

There has been an increase in the number of younger people (25-34 years old) filing for bankruptcy. This generation often struggled with low wages, unstable employment, and difficulty repaying debts resulting from living on credit.

July - September: Impact of the holiday season

The third quarter was a somewhat quieter period in terms of the number of bankruptcies being declared. Although the holidays may have temporarily improved public sentiment, many people made the decision to file after carefully analyzing their financial situation.

Reasons:

• Excessive holiday spending that deepened financial problems.
• Rising energy prices and preparations for the heating season.

During this period, bankruptcy was more common among older people, over 60. They were mainly retirees who could not cope with the rising costs of living on limited incomes.

October - December: Record interest

The last quarter of 2024 brought a record number of consumer bankruptcy applications. The reason was the ending of credit holidays for some borrowers and high pre-holiday spending, which put an even greater burden on household budgets.

Reasons:

• The end of the year was conducive to making decisions about financial restructuring.
• The desire to start the new year “with a clean slate.”

A significant group were young people (18-24 years old), often just starting their professional careers, who could not cope with the consequences of impulsive financial decisions.

General reasons for declaring bankruptcy in 2024

There were certain common themes leading to bankruptcy filings throughout the year:

1. Rising inflation: High prices for food, energy and basic services are putting a significant strain on household budgets. Inflation remained elevated in 2024, forcing many people to take out loans that they were later unable to repay.
2. Easier access to bankruptcy procedures: Reforms introduced in 2020 simplified the process of declaring bankruptcy, which led to an increase in the number of people who decide to use this solution. Electronic access to applications and less restrictive requirements contributed to the popularization of this tool.
3. High consumer debt: The popularity of short-term loans and problematic mortgage repayment terms have caused many Poles to fall into a debt spiral. In particular, people aged 30–49 were most at risk of financial problems.
4. Insufficient financial education: Despite growing awareness of financial management, many Poles still make unwise credit decisions. Consumerism additionally fuels demand for loans and credits.

Summary

Although the 2024 consumer bankruptcy statistics may have seemed worrying at first glance, they also had a positive dimension. This mechanism allowed thousands of Poles to sort out their financial situation and start their lives anew. Growing public awareness of budget management and growing interest in financial education give hope that in the future, the number of people forced to declare bankruptcy will begin to decrease.

Thanks to new legal regulations and support from public institutions, consumer bankruptcy in Poland is becoming not only a survival tool, but also a chance for a better tomorrow for many consumers.

Take advantage of expert knowledge

The decision to file for personal bankruptcy is a serious step that requires careful preparation and understanding of complex legal procedures. To increase your chances of a positive review of your case and minimize the stress associated with the entire process, it is worth using the help of experienced specialists.

Experts from office PMR Restructuring offer comprehensive support at every stage of bankruptcy proceedings – from financial situation analysis, through preparation of necessary documentation, to representation in court. By entrusting your case to professionals, you gain the certainty that each step will be carried out in accordance with applicable regulations and the best interests of the client. Contact us today and start the new year 2025 by generally organizing your finances.