Bogotá one of the cities where more people filed for bankruptcy in 2021

According to the firm Insolvency Colombia, in the last year the number of people who availed themselves of this law grew.

The Colombian Insolvency firm revealed that 2021 was one of the years in which the number of people seeking financial procedures, loan negotiations, grew the most. debts and patrimonial liquidations to solve those financial inconveniences.

According to the signature. the Departments where more people sought to benefit from the insolvency law were Antioquia, Bogotá and Valle del Cauca.

Antioquia went from 297 requests to 598 requests in 2021 which doubled the amount. Bogotá went from 796 to 920 applications of insolvency, while Santander remained almost the same going from 162 to 193 insolvency applications and Valle del Cauca went from 388 to 448 insolvency proceedings in 2021”said the director of the firm, Luis Benítez.

More information here: The covid continues to overflow in Bogotá: 7,208 new infections were registered this Thursday

In addition, the firm’s analysis found that men between 45 and 50 years old are the ones who most go to this resource, while women between 50 and 55 years old are the ones who do it the most.

The report also highlighted that Citizens who are heads of households or who have dependents are the ones who most resorted to insolvency procedures (71,29%).

According to the study’s calculations, by 2022 it is estimated that the number of Colombians who will declare bankruptcy will decrease a little but will still be high. In this sense, the firm Insolvency Colombia indicates a 10% increase in applications.

Finally, the report detailed that “as banks stop providing financial relief and people recover financially, insolvency applications will become a timely tool to have better economic stability in households”.

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