Munich. Even if it seems incongruous with this rich city, every twelfth Munich citizen is heavily in debt. Who is particularly affected and in which districts the most debtors live is shown in the debtors atlas for Munich, created by the economics information firm Creditreform.

The report shows that the gap between wealthy and poor districts became larger: for example, in Hasenbergl every fifth citizen is in debt compared to affluent Obermenzing with one in twenty in debt. 8.3 percent of citizens in Munich are stuck in the situation where they cannot pay their financial obligations and have no asserts or other credit facilities to cover them in the foreseeable future. On average, borrowers are just under 37,000 euros in debt. The age group with the highest debt is the 65 - to 70-year-old range. Creditreform figures have surprised financial experts as due to the economic crisis they had expected a dramatic rise in debt ratios. The population appears to have good short-time compensation means at their disposal that prevents the worst case scenarios. The data collected by Creditreform is not only interesting but also useful: the information provided by zip code is an important factor for companies such as banks and mail order companies to calculate the creditworthiness of their customers.