New High for Personal Bankruptcies
Individual bankruptcy rises 28% over the year
7th May 2005
Official figures show a new high for personal bankruptcies, up 28% on the previous year.
This comes after a previous record high in the last quarter, with the new figures up 1.6% from that. All told, 13,229 people applied for personal bankruptcy in January to March of this year.
The news comes against a backdrop of consumer debt standing at over £1 trillion, a cooling property market, sluggish retail spending and recent record repossession actions, suggesting a tricky future for the UK economy.
Read More: Guardian Unlimited : Money
|
More on Bankruptcy : Egg plc Posts £40m Loss (News, 31/07/2006), Report Says a Million People Near to Bankruptcy (News, 22/05/2006), Another Steep Rise in Insolvencies (News, 05/05/2006), Bankruptcy Rate Rises in Under 25s (News, 13/09/2005), New Record for Bankruptcy Levels (News, 08/08/2005), See all 10 Bankruptcy stories >>> |
|
More on Consumer Debt: Repossession : Could you lose your home? (Article, 09/02/2006), Coping With Debt (Article, 27/07/2005), Reduce Your Credit Card Debt (Article, 26/07/2005), IVAs a Profitable Business (News, 24/10/2006), Bad Debts Hit Co-op Profits (News, 14/09/2006), HSBC Tightens Overdraft Rules (News, 12/09/2006), Egg plc Posts £40m Loss (News, 31/07/2006), Many Face 'Lifetime of Debt' (News, 25/05/2006), See all 32 Consumer Debt stories >>> |
Home - Bad Credit
