THE FRENCH IN THE RED: INVESTIGATING THE DEBT SPIRAL | M6 | Zone Interdite

It’s a record since the Covid crisis: the number of cases filed with the Banque de France to erase or reschedule debts has risen by nearly 11% in 2024. And the phenomenon no longer affects only the poorest: the middle class, once thought to be safe, is now also concerned. One in five French citizens now finds themselves overdrawn by mid-month. Through the portraits of these families overwhelmed by debt, we will investigate this spiral of overindebtedness.

First come the setbacks: divorce, illness, and especially unemployment. With nearly 67,000 companies placed under receivership or safeguard proceedings last year, tens of thousands of employees lost their jobs. Yet they still have to cover daily expenses while continuing to repay loans that once promised them a better future for their families.

Others have been struggling to make ends meet for too long, even resorting to living on credit. For everyday expenses and leisure, the French rank among Europe’s champions of consumer credit — a trend that shows no sign of slowing down. And now, a new phenomenon has emerged: the spread of “four-installment no-fee payments,” available for purchases starting at just 20 euros! How did some fall into this trap? While purchasing power has risen by 31% in five years, how did things come to this?

For the overindebted, the last hope lies in the hands of courts or the Banque de France commissions. We will follow families — but also judges — who have the power to reschedule, suspend, or even erase debts (more than one billion euros were written off in 2024).

Overwhelmed, some French people make a radical choice: leaving France altogether. We will follow one family who decides to start a new life abroad in order to wipe the slate clean.

Is overindebtedness inevitable? In recent years, more and more French households have been seeking ways out of this vicious spiral: renegotiating loans and subscriptions, or turning to “purchasing power coaches” to better manage their budgets. … Can these tips help them avoid the worst ?